Welcome to our January 2024 issue of ProCARE Perspectives. This month we’re highlighting clinician burnout (yes, still), smart comp models, and value-based care barriers
Clinician burnout costs exceed that of turnover
Studies continue to show high levels of burnout and emotional distress among medical students and physicians. This research reveals that the systems are spending the most money – not on turnover and the clinicians who leave – but on the burnt out clinicians who stay.
Changing the way providers are valued, motivated and awarded can improve provider satisfaction and reduce burnout. Interested? Let’s talk!
Smart comp models: the future of compensation
Focusing solely on production-based incentives neglects to consider the crucial organizational aspects beyond mere output. While production remains a vital component, it fails to encompass the broader spectrum of factors influencing provider performance and system success. Industry leaders are shifting to holistic compensation approaches that consider value, teamwork, and adaptable models to address these limitations.
Takeaway: How can your organization embrace a more holistic approach to compensation?
Breaking barriers to value-based care
A key challenge organizations face in shifting to value-based models is compensation and technology limitations. ProCARE empowers clients to easily manage complex models and breathe new life into their compensation strategies. From fine-tuning compensation models by adding or reducing measures for specific specialties or departments to adjusting funding pool mechanisms and modifying thresholds and targets to ensure greater alignment with FMV and organizational goals.
This flexibility ensures that compensation models remain dynamic and responsive to evolving healthcare requirements.
Takeaway: Is it time to breathe new life into your compensation approach? Get started with an introductory call today.