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)
