Physician Compensation Analyst

General Summary

The Physician Compensation Analyst conducts data collection and analysis involved in making recommendations regarding physician base salary program. Ensures physicians are paid in a timely and accurate manner and physician contracts are precise and consistent. Recommends program and system solutions to address changing needs. Performs a variety of project oriented tasks and supports the routine monthly physician compensation calculations and data integrity of production reporting.

Responsibilities

• Drafts physician contracts based on the area of specialty and the predetermined business model. Ensures consistency and fairness based on regulations and fair market value.
• Maintains physician contract renewals in advance of the expiration date to properly renew and/or extend relationships.
• Maintains physician mid cycle contract reviews.
• Prepares and submits annual compensation survey data to national survey vendors; reviews survey results and prepare summaries of that data to meet current compensation formula and management needs.
• Responsible for evaluating market and economic trends; identifying variances and developing recommendations; analyzing costs of proposed recommendations.
• Updates compensation formulas and/or develop compensation formulas and modeling based on management direction.
• Prepares and reviews the monthly accounting entries and annual/mid-year physician compensation calculations.
• Aids the organization with the preparation of the annual budget related to physician compensation and benefits by preparing subsidiary schedules and analyzing data for reasonability compared to current expenses and known changes.
• Analyzes the impact of annual changes to the CMS RVU tables impacting physician compensation and summarizes any major changes for Finance to share with the Physician Compensation Committee.
• Utilizes Microsoft Excel, Access and analysis services reporting tools to review and analyze production data to ensure accurate physician reporting and respond to physician and management inquiries.
• Serves as a professional resource and provides consultative services and guidance.
• Maintains documentation on all pay plans in an organized system.
• Ensures regulatory compliance with all programs, contracts, and policies.
• May be cross-trained to provide support and back-up for staff and leadership compensation processes.

Required Education, Credential(s) and Experience

• Education: Bachelor Degree Accounting; Bachelor's degree in Human Resources, Finance, Business, or Healthcare related field
• Credential(s): Experience: Required: Five (5) years of relevant healthcare experience relating to physician compensation, human resources/payroll areas, finance, or government regulations.

Preferred Education, Credential(s) and Experience

• Education: Master Degree Business Administration
• Credential(s): Experience: To view a full list of all open position at Bayhealth, please visit: https://apply.bayhealth.org/join/