Data-Driven Analytics: Modeling Changes to Compensation

Healthcare leadership using data-driven guidance can expertly strive to align provider compensation – often the most significant expense for a practice – with the organization’s core objectives. Providing physicians with up-to-date information regarding their current performance and projected compensation is one of the best ways to ensure transparent communication and motivate change. With the variety of plans and calculation parameters in play today, being able to accurately model proposed physician compensation plans with ease and flexibility is now a critical task.

This timely webinar discusses how to implement a strategic analytics plan to develop consistency in automating, calculating, and modeling physician compensation plans. We’ll share data-driven methodologies and tactics that nurture a trust-centric culture, essential for ensuring physician buy-in. We’ll also explore how to effectively communicate not only current and projected compensation but also actionable insights a provider can take to maximize their performance going forward. You’ll discover the key role data-driven analytics play in modeling and adapting compensation structures.

What You’ll Learn:
● How to project and align physician compensation with critical practice initiatives
● Methods to provide physicians and management with relevant, timely data
● Tactics that foster productivity while emphasizing evolving strategic objectives
● Strategies for mitigating mistrust and dissatisfaction when introducing changes to compensation plans

Who Should Attend:
Healthcare executives, practice managers, billing and revenue cycle professionals, and those eager to harness data analytics to enhance denial recovery.

Join us on June 26 at 12:00 PM Eastern time for this webinar on Modeling Physician Compensation.

Advancing Physician Compensation from Spreadsheets to Strategy

The traditional use of tools like Excel for calculating and creating physician compensation reports is becoming increasingly fraught with complexities and hidden costs. This becomes even more apparent as healthcare practices rapidly transition toward more dynamic and data-driven operational models. Join us for an informative webinar that explores the challenges and real costs of relying on conventional methods for managing physician compensation analytics.

In this session, we will explore the critical need for healthcare organizations to adopt advanced data-driven strategies to model and adapt physician compensation plans accurately. With a focus on aligning provider incentives and the evolving objectives of value-based care, we will discuss innovative methodologies to project and align physician compensation with practice initiatives, ensuring both provider satisfaction and practice financial health.

Key Takeaways:

  • Discover the limitations of traditional tools like Excel in handling the nuances of modern physician compensation plans and the potential risks they pose to accuracy and efficiency
  • Learn how to leverage data-driven analytics to provide timely, relevant data to physicians and management, fostering a culture of transparency and trust
  • Promote productivity through the effective communication of compensation plans and performance metrics
  • Gain insights into the best practices for modeling new compensation structures that align with strategic objectives and value-based care models

Who Should Attend:

This webinar is designed for healthcare executives, financial officers, HR professionals, and anyone involved in the planning, calculation, and communication of physician compensation within healthcare organizations.

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March 2024 Webinar - Advancing Physician Compensation from Spreadsheets to Strategy

Rethinking Physician Compensation in a Data-Driven Practice

Healthcare organizations striving to enhance their data-driven strategies are up against their own unique challenges to keep staff, leadership, and care teams focused on metrics that drive improvement. Successfully managing Provider Compensation – often the largest expense for a practice – is a complex process often tied to KPIs that may not be in sync with current organizational goals. A new way of thinking is needed to bridge the significant gap between analytics and compensation that most practices face today.

In this webinar, we will explore the challenges involved with fostering an organizational culture that is truly data-driven. We will discuss the intricacy and necessity of timely and accurate physician compensation reporting to create organization-wide transparency and trust that nurtures physician buy-in. We will also help practices identify areas where compensation may not align with goals and initiatives and how even minor tweaks to compensation plans can have a major impact on driving the organization forward.

Key topics include:

  • Supporting a culture that fosters your data-driven organization
  • How outdated compensation plan metrics and methodologies can sabotage key practice initiatives
  • The need for physicians and management to have timely, relevant data to keep them on course
  • Overcoming mistrust and dissatisfaction when modifying compensation plans