Cone Health
Director Provider Compensation
Cone Health, Greensboro, North Carolina, us, 27497
Overview:
The Director Provider Compensation provides strategic direction and general compensation design, planning and implementation of the provider compensation plans. Serves as a consultant to senior management regarding provider compensation policies, programs, and issues. Provides routine reports and support to physicians and other relevant stakeholders regarding compensation levels. Is available to educate and answer questions regarding changes to compensation methodologies and/or regulations. The leader is also responsible for administration of approved provider compensation plans. Directs the activity of the provider compensation staff.This position is hybrid with an expectation that some work may be completed virtually. Position requires regular onsite meetings with teams and committees.Talent Pool: Corporate Services/Professional, Physicians & Providers, Facilities & OperationsResponsibilities:Compensation Design, Implementation and Communication: Leading the process for developing, transitioning, evolving and implementing the provider compensation model (including base pay, variable pay and incentive pay); Directs the development of communications associated with provider compensation activities; Develops, prepares and updates policies and procedures affecting provider compensation; Responsible for preparation, facilitation, administration and documentation of provider compensation related meetings, committees and forums (i.e. Executive Compensation Committee, Compensation Sub-Committee and all new compensation model related forums).Compensation Administration: Provides oversight for the financial modeling and calculation of provider compensation and incentive plans; Directs the analytical support and reporting related to the management and maintenance of the provider compensation plan, including Clinical Compensation, Incentives and Bonuses, Outside Income/Stipends, Contractual Salaries and Salary Guarantees, and Support for FMV review; Insures data management incorporates use of appropriate and validated source systems, efficient data collection tools, integrity of data sources, etc.; Insures appropriate confidentiality of data sources at all times; Directs the annual salary process for physicians; Maintains benchmark data for use in provider compensation; Develops redundancies to validate and verify compensation reconciliations.Compliance: Collaborates with legal counsel and health system leadership to ensure observance of organizational policies, Stark law, Anti-Kickback legislation, etc.; Is a subject matter expert for the organization regarding rules, regulations, standards, and emerging trends impacting physician compensation arrangements; Works with Internal Audit related to review of the plan administration.Leadership & Strategic Direction: Manages relationships with external provider compensation vendors and consultants; Counsels dyad leadership as to the effective administration within provider compensation guidelines; Provides recommendations to Cone Health Medical Group (CHMG) Executive Team for requests for exceptions to the approved compensation model; Directs the activities of professional staff; Provides direction and support of direct reports to ensure effectiveness and efficiency; Establishes work standards; Selects, trains, develops and evaluates direct reports; Provides exceptional service to customers by anticipating needs, following standard work, proactively communicating and providing consistent timely and accurate information; Supports decision making related to provider compensation ? including recommendation and appropriate documentation to streamline communication and decisions; Serves as the primary point of contact for the organization related to physician compensation and contract administration; Exhibits professional behavior and represents the organization?s mission and vision.Market Analysis: Manages the compilation of provider compensation data for submission to local, regional and national salary surveys and directs the analysis of information to determine the organization?s competitive position; Manages the provider salary administration programs including market pricing and development and maintenance of formal job grades and salary ranges where applicable; Responsible for understanding and sharing changes and trends occurring in the provider compensation market; Conduct market analysis, such as community need assessments, programmatic need assessment, feasibility studies, and call burden analysis as needed; Provide analysis to validate recruitment needs; Develop contracting parameters for new physician hires.Budgeting: Manages the annual provider salary planning budget and review process.
Qualifications:EDUCATION:
Required: Bachelor's degree in Business, Accounting, Finance or Human ResourcesPreferred: Master's degree in Business or Healthcare Administration
EXPERIENCE:
Required:5 years of relevant finance, human resources, or physician compensation experieneDemonstrated finance leadership or equivalent public accounting experience3 years of relevant leadership experience
LICENSURE/CERTIFICATION/REGISTRY/LISTING:
The Director Provider Compensation provides strategic direction and general compensation design, planning and implementation of the provider compensation plans. Serves as a consultant to senior management regarding provider compensation policies, programs, and issues. Provides routine reports and support to physicians and other relevant stakeholders regarding compensation levels. Is available to educate and answer questions regarding changes to compensation methodologies and/or regulations. The leader is also responsible for administration of approved provider compensation plans. Directs the activity of the provider compensation staff.This position is hybrid with an expectation that some work may be completed virtually. Position requires regular onsite meetings with teams and committees.Talent Pool: Corporate Services/Professional, Physicians & Providers, Facilities & OperationsResponsibilities:Compensation Design, Implementation and Communication: Leading the process for developing, transitioning, evolving and implementing the provider compensation model (including base pay, variable pay and incentive pay); Directs the development of communications associated with provider compensation activities; Develops, prepares and updates policies and procedures affecting provider compensation; Responsible for preparation, facilitation, administration and documentation of provider compensation related meetings, committees and forums (i.e. Executive Compensation Committee, Compensation Sub-Committee and all new compensation model related forums).Compensation Administration: Provides oversight for the financial modeling and calculation of provider compensation and incentive plans; Directs the analytical support and reporting related to the management and maintenance of the provider compensation plan, including Clinical Compensation, Incentives and Bonuses, Outside Income/Stipends, Contractual Salaries and Salary Guarantees, and Support for FMV review; Insures data management incorporates use of appropriate and validated source systems, efficient data collection tools, integrity of data sources, etc.; Insures appropriate confidentiality of data sources at all times; Directs the annual salary process for physicians; Maintains benchmark data for use in provider compensation; Develops redundancies to validate and verify compensation reconciliations.Compliance: Collaborates with legal counsel and health system leadership to ensure observance of organizational policies, Stark law, Anti-Kickback legislation, etc.; Is a subject matter expert for the organization regarding rules, regulations, standards, and emerging trends impacting physician compensation arrangements; Works with Internal Audit related to review of the plan administration.Leadership & Strategic Direction: Manages relationships with external provider compensation vendors and consultants; Counsels dyad leadership as to the effective administration within provider compensation guidelines; Provides recommendations to Cone Health Medical Group (CHMG) Executive Team for requests for exceptions to the approved compensation model; Directs the activities of professional staff; Provides direction and support of direct reports to ensure effectiveness and efficiency; Establishes work standards; Selects, trains, develops and evaluates direct reports; Provides exceptional service to customers by anticipating needs, following standard work, proactively communicating and providing consistent timely and accurate information; Supports decision making related to provider compensation ? including recommendation and appropriate documentation to streamline communication and decisions; Serves as the primary point of contact for the organization related to physician compensation and contract administration; Exhibits professional behavior and represents the organization?s mission and vision.Market Analysis: Manages the compilation of provider compensation data for submission to local, regional and national salary surveys and directs the analysis of information to determine the organization?s competitive position; Manages the provider salary administration programs including market pricing and development and maintenance of formal job grades and salary ranges where applicable; Responsible for understanding and sharing changes and trends occurring in the provider compensation market; Conduct market analysis, such as community need assessments, programmatic need assessment, feasibility studies, and call burden analysis as needed; Provide analysis to validate recruitment needs; Develop contracting parameters for new physician hires.Budgeting: Manages the annual provider salary planning budget and review process.
Qualifications:EDUCATION:
Required: Bachelor's degree in Business, Accounting, Finance or Human ResourcesPreferred: Master's degree in Business or Healthcare Administration
EXPERIENCE:
Required:5 years of relevant finance, human resources, or physician compensation experieneDemonstrated finance leadership or equivalent public accounting experience3 years of relevant leadership experience
LICENSURE/CERTIFICATION/REGISTRY/LISTING: