Successfully implementing a performance-based compensation plan. The secret is in the development process.
A performance-based compensation plan can effectively turn around a troubled physician practice. While no one plan will work for all practices, a particular development and implementation process has proven successful for a number of them. The process involves an inclusive approach designed to achieve the highest possible level of consensus among the physicians, identification of appropriate performance criteria and development of incentives to produce the desired behaviors.
Stern
J M
JM
ZA Consulting, LLC, 166 Forbes Rd., Suite 101, Braintree, MA 02184, USA. jstern@zaconsulting.com
D004650:Employee Performance Appraisal / Q000191:economics*; D004651:Employment / Q000191:economics; D005376:Financial Management; D010816:Physician Incentive Plans / Q000191:economics*; D011216:Practice Management, Medical / Q000592:standards*; D019984:Quality Indicators, Health Care; D012456:Salaries and Fringe Benefits; D014481:United States