Medical Practice Management
Aug 01

Making your compensation pay plan work

If you are looking to change your physician compensation formulary, try to take an objective approach to analyzing and possibly renovating your formula. Remember that compensation plans that work should:

  • support practices’ organizational goals
  • incorporate work or production incentives
  • compare reasonably to average incomes in similar practice settings
  • reflect practices’ unique situations
  • pay for physician and administrative governance and leadership
  • provide fairly for part-time physicians and staff
  • comply fully with regulations (particularly the Stark laws)
About Reed Tinsley, CPA

As a top advisor to physicians, I help increase practice profits by delivering hands-on, expert medical accounting/tax support, practice counsel, and revenue-building strategies. Read more →