[Hiring] Senior Physician Compensation Analyst @MedStar Health

Role Description

Provides leadership and management for the physician compensation and contract administration function for MedStar's employed physicians and Advance Practice Clinicians (APC's). Implements compensation plans/models and measures the effectiveness of physician compensation plans to ensure the overall physician strategy is supported. Responsibilities focus on the implementation of a system-wide physician compensation strategy and model through participation in plan development implementation and ongoing operational management. Identifies staff FTE budget variances and budget variance resolution with MMG operations management. Under the direction of the Physician Compensation Director is involved in all aspects of physician compensation determination and supervises contract administration regulatory compliance and fair market value assessments.

Primary Duties and Responsibilities

• Contributes to the achievement of established department goals and objectives and adheres to department policies, procedures, quality standards, and safety standards.
• Complies with governmental and accreditation regulations.
• Provides routine reports and support to physicians, physician leadership, and other relevant stakeholders regarding compensation levels including development of projections of compensation.
• Communicates physician compensation issues to Practice Administrators and physician leaders and offers recommendations to implement changes as they occur.
• Educates and answers questions regarding changes to compensation methodologies and/or regulations.
• Supports the selection, training, and onboarding of Physician Compensation Analysts.
• Acts as primary liaison between employed physicians, MMG management, and third parties with regard to physician compensation issues, coverage agreements, corporate overhead allocations, and other financial matters impacting physician compensation.
• Develops and maintains reliable, timely, and efficient processes for managing physician compensation arrangements and contracts.
• Develops management tools and metrics to monitor the performance of physician compensation relative to the budget.
• Establishes a sophisticated system for capturing, tracking, and reporting of individual physician productivity measures.
• Maintains contract files and reports useful and appropriate to assure contract compliance including timely renewals and amendments.
• Monitors the components of compensation plans and provides information relating to fair market value and reasonable compensation.
• Plans, develops, and implements policies related to physician compensation methodologies and contract compliance.
• Assists in the development of physician compensation arrangements that align with organizational objectives and meet regulatory requirements.
• Works closely with MMG senior leadership, practice management, and corporate functions to administer physician compensation plans and to respond to ad hoc compensation information from stakeholders.
• Participates in meetings and on committees and represents the department and business unit in community outreach efforts.
• Participates in multi-disciplinary quality and service improvement teams.

Qualifications

• Bachelor's degree in business administration, finance, or healthcare administration required.

Requirements

• 5-7 years work experience in financial analysis, accounting, or related field required.
• 2 or more years experience within a large integrated medical group working directly with physician compensation, employment contracts, and regulatory issues required.
• Managerial experience preferred.

Knowledge Skills and Abilities

• Critical thinking and problem-solving.
• Ability to analyze and present complex data to a variety of audiences.
• Ability to maintain relationships with all stakeholders including physicians, hospital and medical group administration, and compensation staff.
• Effective written and verbal communication skills.
• Proven knowledge of regulatory compliance and legal requirements for physician agreements and payment practices.
• Working knowledge of various computer software applications.

Benefits

• This position has a hiring range of USD $73,278.00 - USD $139,984.00 /Yr.