Physician Compensation

Instructor: Frederick J. Wenzel
Webinar Id: 800465

Duration: 90 Minutes

  • Recorded
  • Only for one participant ?
  • Price $179.

Overview:

Physician compensation has been one of the most widely discussed topics among healthcare professionals. There are many ways of compensating physicians most of which are currently based on the relative value system (RVU) established by CMS. The differences in compensation systems varies all the way from equal distribution to very complex formulas that involve work RVUs, quality measures, administration, teaching, research, community service and a myriad of other factors.

These systems will be explored during the presentation and there will be commentary on how these compensation systems will be driven by reimbursement especially that from Medicare and Medicaid in the future. The pros and cons of various methodologies will also be presented. Emphasis will be placed on the culture of the organization and its influence on compensation along with the values that have been established by the professionals.

Why should you attend: There will be significant stresses and strains on physician compensation during the next several years. Evidence for that has already been demonstrated as reimbursement systems begin to tighten. Reimbursement from both Medicare and Medicaid has leveled off and more than likely will be decreased in the future. Compensation systems for integrated systems are also going to be impacted by the needs of the larger organization. Leaders and managers must understand the various forces that will come to bear in an environment that is becoming increasingly hostile to the professional.

Areas Covered in the Session:

  • The history of compensation
  • Compensation methodology
  • The pros and cons of various approaches
  • The impact of organizational structure
  • The influence of values of the organization especially quality
  • Compensation in single speciality and multi-speciality groups
  • Reimbursement and its impact both present and future
  • Summary and discussion

Who Will Benefit:
  • CEO's
  • Medical Directors
  • Compensation Managers
  • CFO's
  • COO's

Speaker Profile
Frederick J. Wenzel MBA, FACMPE is Executive Fellow and Adjunct Professor at the Opus College of Business at the University of St. Thomas. (1996-to date) He holds a Visiting Professor appointment in Marketing at the Graduate School of Business of the University of Colorado. He is a graduate of the University of Wisconsin and the Graduate School of Business of the University of Chicago.

He served as Executive Director of the Marshfield Clinic Research and Education Foundation for sixteen years and then Executive Director of the Marshfield Clinic for seventeen years. He now serves on the Clinic's National Advisory Council and is Advisor to the President of the Clinic. He was Executive Vice President and CEO of the Medical Group Management Association of Englewood Colorado from 1993-1996 and continues to work with that organization on committees and task forces. He served on the Commission for Accreditation for Health management Education where he completed two years as chair of the Commission. He also serves on the Boards of The Marshfield Clinic Health System (Marshfield Wisconsin), University of Wisconsin Medical Foundation (Madison WI), Health Quality Partners Doylestown PA, and Fairview Physician Associates Minneapolis MN. He is on the Editorial Board of Medical Practice Management.


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