SOURCE: BDC Advisors

BDC Advisors

October 21, 2014 15:08 ET

BDC Advisors Recommends Six Steps to a Value-Based Physician Compensation Plan

National Healthcare Consulting Firm Highlights New Physician Comp Model Resulting in Better Systems Strategy and Market Alignment

MIAMI, FL--(Marketwired - October 21, 2014) - Featured exclusively in Becker's Hospital Review, BDC Advisors' "Is Your Physician Compensation Plan Aligned With Value-based Reimbursement?" recommends that physician compensation models that are primarily volume-based must quickly migrate to performance-based plans. By doing so, health systems reward improved population health, better patient engagement and lower per capita costs (the Triple Aim) in an effort to face challenges put forth by new market requirements. 

Since the passage of the ACA in 2010, healthcare reimbursement changes have rapidly evolved from primarily volume-based fee-for-service reimbursement to value-based, risk-sharing accountable care contracts. Failure to align physician compensation incentives with the goals of reform and the health system increase the risk of penalties for overutilization of acute care or diagnostic services that may be encouraged by the old volume-based practice mindset.

"The goal of the physician compensation plan is to encourage and support a transformation of the care model that leads to improved health and outstanding organizational performance. The change must start now. This article provides the guidance and outlines the six steps necessary for a health system to navigate this complex road," said Dr. Phyllis Floyd. Learn more about this topic by downloading the full article.

BDC Advisors is a national healthcare consulting firm headquartered in Miami, which specializes in strategic business planning and business diversification for large integrated healthcare delivery systems, academic medical centers, and managed care organizations. For more information visit www.bdcadvisors.com. Follow us on Twitter @BDCAdvisors.

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