Welcome to our October issue of ProCARE Perspectives. This month we’re highlighting the complexities of provider compensation, the flaws in wRVU calibrations and value/team-based comp strategies.
Summiting provider compensation
Provider compensation is the heart of provider engagement and shapes the direction of organizational strategies. In recent times, due to integrations and private equity acquisitions, managing compensation has become quite a complex task. Chances are, your organization deals with a wide array of specialties and provider types, possibly spread across diverse regions.
Takeaway: Are you investing in the right technical infrastructure to manage these complexities?
wRVU: A nationwide problem
The wRVU methodology is a well-designed scale to value provider time and risk. This makes it a natural fit to use as the main productivity compensation metric, but incorrect wRVU calibrations can lead to compensation discrepancies of up to 25% per provider.
Takeaway: Is your process only looking at modifiers or one claim/CPT line to designate adjustments?
Driving value & team-based strategy across regions
Last month we joined OSF HealthCare in presenting on driving value/team-based strategy across regions at the AAPCP Fall Conference. Highlights of the presentation included the evolution of comp, driving culture change, OSF comp plans/drivers/metrics/incentives, and much more. Learn more about joining AAPCP here.
Takeaway: Can ProCARE help uplevel your incentive compensation and improve retention, productivity and performance like it did for OSF?