Manager of Physician Compensation

Manager of Physician Compensation

HIGHLIGHTS
Location: Chicago IL
Position Type: Contract
Hourly / Salary: BOE
Residency Status: US Citizen

Our client is looking for a Manager of Physician Compensation to join their team!

• Lead the design implementation and ongoing administration of physician compensation plans ensuring they are competitive and align with the organization's strategic goals.
• Develop and maintain analytical materials that support leadership in reaching a consensus on compensation philosophy and strategy.
• Provide recommendations on compensation models and metrics that drive physician productivity and performance.
• Perform detailed quantitative and qualitative analyses of healthcare and financial data to support compensation program management.
• Conduct ongoing market analysis to ensure physician compensation is within fair market value adjusting compensation structures as necessary to maintain competitiveness.
• Manage the financial aspects of physician contracts including performing monthly and annual incentive calculations to ensure alignment with approved compensation agreements.
• Develop key performance indicators (KPIs) and dashboards to monitor and report on monthly quarterly and annual performance targets.
• Utilize advanced analytics tools such as Tableau and other business intelligence systems to automate and populate dashboards with relevant data for performance monitoring.
• Collaborate with shared services departments (Revenue Cycle HR Strategy Managed Care UCPG BSD) to gain consensus on compensation strategy and implementation.
• Actively participate in leadership meetings and physician compensation committee discussions presenting data and insights to drive decisionmaking.
• Directly manage compensation resources providing guidance in the design and administration of incentives and margin share programs.
• Conduct annual reviews of market data and communicate updated compensation ranges to leadership.
• Ensure that all compensation practices comply with internal policies legal requirements and industry standards.
• Maintain confidentiality and integrity when handling sensitive compensation data ensuring that all decisions are compliant with federal and state regulations.
• Stay current on best practices and emerging trends in physician compensation by engaging with professional publications attending seminars and participating in relevant training.
• Promote the sharing of knowledge and information with staff during team meetings fostering a culture of continuous learning and improvement.

• Advanced proficiency in financial analysis compensation modeling and database management with a strong command of spreadsheet and database programs.
• Excellent written and oral communication skills with the ability to present complex financial data to diverse audiences.
• Strong relationshipbuilding skills with the ability to work collaboratively across departments and with senior leadership.

• Bachelor’s degree in accounting finance business administration or a related field. A master’s degree or relevant certification (e.g. CPA CCP) is preferred.
• Minimum of five years of progressively responsible analytical experience in healthcare or a comparable environment with specific experience in physician compensation.
• Demonstrated experience with hospital or academic medical center physician compensation analytics and governance.

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