Physician Compensation
In this episode, we talk about physician compensation. It isn't just about the dollars and cents; it's a deep exploration of motivation—both financial and otherwise. We discuss the critical impact job satisfaction, recognition, and work environment can have on the adoption of value-based care. Understanding that healthcare is a team sport, we discuss the importance of aligning incentives across the entire office, from front staff to physicians, to cultivate success and tackle the ever-present specter of burnout. It's an intricate dance of balancing interests, from the patients who seek quality care, to the payers who demand efficiency, to the providers who deserve fair compensation.
Ask us a question for Dr. Hart & Katila Farley RN to answer about VBC here.
Our guests for today’s show are:
Joni Wyatt Director Healthcare Advisory for Kassouf
You can connect with her here.
Craig Worland, Chief Operating Officer at Southeast Primary Care Partners.
You can connect with him here.
Wren Keber, Principal at ECG Management Consultants
You can connect with him here.
Lisa Soroka, founding member of The Marblehead Group, LLC
You can connect with her here.
Andrea Hurteau, Principal Consultant, Winston Healthcare Advisors
You can connect with her here.
Episode Outline:
(05:51 - 07:25) Value-Driven Compensation Models in Healthcare
(14:06 - 15:19) Non-Financial Incentives for Job Satisfaction
(24:36 - 28:30) Driving Value-Based Care Through Incentives
(30:04 - 30:37) Expanding Practice Through Incentives
(32:03 - 33:12) Incentive Alignment in Physician Compensation
(35:45 - 36:59) Compensation in Hybrid Medical Models
(40:46 - 42:39) Designing Compensation Plans for Value-Based Care
(46:21 - 48:23) Patient Satisfaction and Provider Communication
(49:54 - 50:48) Alignment and Burnout in Value Care
(01:01:39 - 01:02:41) Workflow and Resource Concerns in Healthcare
