Aligning physician compensation with strategic goals
Bunkers, B.; Koch, M.; McDonough, B.; Whited, B.
Healthcare Financial Management Journal of the Healthcare Financial Management Association 68(7): 38-45
2014
ISSN/ISBN: 0735-0732 PMID: 25076636 Document Number: 674728
In 2012, Mayo Clinic Health System (MCHS) had 13 different physician compensation models among its operating units, with most based on productivity metrics. MCHS aimed to transition all physicians to a single compensation model that would facilitate its integration with Mayo Clinic and promote physician engagement with emerging value-based payment models. The new model, which was implemented this past January, incorporates quality metrics, provides physicians with regular reports of their performance, and already has resulted in greater physician attention to outcomes, safety, and patient experience.