by
Karin Chernoff Kaplan, Managing Director
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Before the early 20th century, there were virtually no physician specialists in the United States. Today, the list of physician specialties continues to expand as medical knowledge grows with new discoveries and advancements in technology. Now, healthcare leaders must consider: How does this super-specialization affect physician compensation? Specialization and Sub-Specialization Historically, physicians were generalists, but […]
by
Karin Chernoff Kaplan, Managing Director
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The First Wave 2021 was the big year for WRVU changes associated with CMS’s extensive and far-reaching updates to the Medicare Physician Fee Schedule (MPFS). The changes, designed to ultimately be budget neutral, restructured reimbursement to increase payments to cognitive specialists (such as primary care and other medical specialties) and reduce reimbursement to procedure-based specialists. […]
by
Karin Chernoff Kaplan, Managing Director
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It’s not easy to determine if there is equity in provider compensation across your organization, given the many departments, specialties, and roles—but it’s essential. Consider the following hypothetical: A local news source reports a 30% pay discrepancy between your male and female maintenance employees performing the same work. Chances are you would rather not have […]
by
Karin Chernoff Kaplan, Managing Director
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It’s time to stop playing “kick the can” when it comes to physician compensation in hospitals and health systems. When the 2021 Medicare Physician Fee Schedule (MPFS) sought to restructure physician reimbursement by increasing payment to cognitive care specialists such as primary care physicians and reducing reimbursement for procedure-based specialists, it was a move designed […]
by
Karin Chernoff Kaplan, Director
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As one of the largest health system cost centers and one with significant regulatory implications, physician compensation should be top priority. A comprehensive approach to physician compensation enables the organization to recruit and retain physician talent, align physician incentives with those of the organization to drive performance, and maintain an infrastructure to mitigate risk associated […]
by
Karin Chernoff Kaplan, Director
and
Richard Chasinoff, Principal
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In the final days of 2020, Congress passed, and the President signed into law, the latest coronavirus relief package. This additional round of COVID relief legislation contains welcome news for health care providers: a one-time, one-year increase to physician fee schedule payments for 2021. The legislation creates a 3.75 percent increase in Medicare Physician Fee […]
by Jessica E. Stack, Senior Manager
What do you need to know about hospital physician deals now? How did this pandemic change the landscape? What are the specific valuation considerations in this post COVID environment that you need to be aware of for upcoming deals? Watch the video!
Physician employment agreements now commonly include compensation for services beyond basic clinical services; they may also provide compensation for medical directorships, teaching, on-call payments, and so on. We have found that physicians transitioning to hospital employment are generally accepting of clinical compensation models that include a base salary coupled with productivity and quality incentives. However, […]
by Jessica E. Stack, Karin Chernoff Kaplan, Stu Schaff
Healthcare Financial Management
August 2015
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A health system’s efforts in deploying strategic network initiatives will be effective only if its leaders understand the unique factors affecting multi-provider networks.