Senior Physician Compensation Analyst

MedStar Health; Maryland; On-site; USD 73,000 - 140,000; Full time

Job summary

MedStar Health seeks a leader to manage physician compensation and contract administration for employed physicians and APCs. You will develop and implement system-wide compensation models and monitor budget and compliance to support the physician strategy.

The role includes supervising Analysts, providing routine compensation reports, maintaining contracts, and ensuring regulatory compliance in collaboration with MMG leadership and corporate functions.

Qualifications

• Bachelor's degree in business administration, finance or healthcare (degree field clearly stated).
• 5–7 years of financial analysis or accounting experience required.
• 2+ years in physician compensation, employment contracts, and regulatory issues.
• Managerial experience preferred.

Responsibilities

• Leads physician compensation and contract administration for employed physicians and APCs.
• Implements compensation plans/models and measures effectiveness to support strategy.
• Generates reports and projections of compensation for physicians and stakeholders.
• Maintains contract files and ensures timely renewals and compliance with regulations.
• Collaborates with MMG leadership and other functions on compensation initiatives.

Skills

Financial analysis

Regulatory compliance

Education

Bachelor's degree

Job description

About the Job

General Summary of Position

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 provide information relating to fair market value and reasonable compensation.
• Plans develops and implements policies related to physician compensation methodologies and contract compliance.
• Develops and contributes to the achievement of established department goals and objectives and adheres to department policies procedures quality and safety standards.
• 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.

Minimal Qualifications

Education

• Bachelor's degree in business administration finance healthcare administration required

Experience

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

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