Would anyone be interested in participating in a zoom discussion about production-based pay? Our practice would really benefit from hearing how this model has worked in your practices or, if your practice is new to this, what questions have come up with implementing the change? Our practice is beginning to roll out this model based on Paul and Chip’s methodology and there have been a few questions from providers that I am not sure how to answer. One question is whether the base compensation changes at some point or if it remains the same? Is it correct to assume that when a provider goes out on medical leave, a bonus is not likely? How did practices handle production-based pay during COVID?
I would be very interested in a zoom call to hear what others are doing. Another method that I have been considering is incentive based targets quarterly, rather than a percentage of what they produced.
You might appreciate this presentation Alex Meyer gave at our Users’ Conference this summer about Compensation Models.
I haven’t looked in a bit, but I’ve given a similar talk many times where I walk through a the “compensation quadrants” of what employed clinicians really want (high revenue/high obligation; low revenue/low obligation, etc.) and how what they want changes over time - it addresses some of the questions you’d have about the base salary changing, for example.
I would love to be on this zoom to learn because our providers have bounced around that topic.
If you create a zoom, send me an invite to email@example.com
Thanks, everyone. I appreciate you sending that presentation, Chip. My email address is firstname.lastname@example.org. If you haven’t already, please send me your email address and and availability, and I’ll get the zoom set up. )I can be available most any time of day with some notice.)