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Aligning compensation for physicians and advanced practice providers with organizational strategies and goals
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We guide our clients in establishing fair, attractive and rational physician and advanced practice provider (APP) compensation programming that supports overall organizational wellbeing.
Creating a balanced physician and advanced practice provider compensation program
In this time of transformation within healthcare, improving quality and operational efficiency requires a physician and advanced practice provider compensation program that supports your organizational goals, and aligns with the key drivers of performance for your organization. Offering deep experience with providers and healthcare organizations nationwide, Gallagher is dedicated to creating successful relationships between you and your providers. Our experienced consultants are uniquely qualified to address the complexities of provider compensation in today's healthcare landscape. Our physician and advance practice provider consulting team offers:
- Physician compensation fair market value and commercial reasonableness assessments
- Physician and Advanced Practice Provider compensation model design
- Provider surveys & analytics
- Physician leader compensation review and development
- Medical staff development plans
- Provider engagement strategy
Finding standards for reasonable physician compensation
The current regulatory climate offers no shortage of complications for you to navigate. The regulatory environment requires you to establish reasonable compensation deemed fair market value (FMV) when entering into physician financial arrangements. These include employment, directorships, call payments, professional services agreements, and co-management agreements. If you have not addressed these issues within your compensation agreements, you may be at risk for significant fines, penalties and even criminal judgments for failure to comply with federal and state laws.
Gallagher's Physician Compensation and Valuation team can help. We have completed more physician and advanced practice provider compensation fair market value assessments for healthcare organizations than any other healthcare consulting company in the nation. Our seasoned consultants serve as expert healthcare witnesses for related legal cases. We will work with you to ensure your arrangements are consistent with fair market value and are commercially reasonable. With the largest databases on physician and advanced practice provider compensation arrangements in the industry, and our vast experience, you can trust that your consultants will provide comprehensive guidance needed to navigate the evolving regulatory environment.
Robust data to support your compensation strategies
Every physician practice is different, and there are no one-size-fits-all physician compensation solutions guaranteed to work in every application. We work with you from the board room to the back office to understand your needs. We analyze and provide compensation solutions for all levels of your provider organization, to include compensation model designs, fair market value assessments, and more.
Developing physician leadership
Enabling well-prepared and well-supported physician leadership at all levels and locations is essential to ensure your organization’s long-term viability and performance. Considering that one-third of all physicians are expected to retire in the next 10 years—and given a projected 150,000 doctor shortage over the next 15 years—it is critical for you to attract and retain skilled physicians and physician leaders. Gallagher can help you stand apart from the rest when it comes to developing your physician leaders. Our physician leadership programs are customized to your organization and may include:
- Physician Leadership Academies: We help you design, develop and operate programs to promote your physician leaders' development and educational experiences.
- Medical Directorships: Gallagher helps you implement and improve your medical directorships to lead specialty clinics, referral networks, continuing education programs, and more.
- Physician Leader Compensation: We help you align compensation with organizational goals and objectives, developing an effective roadmap to help you attract and retain the best physician leaders.
- Physician Engagement: At Gallagher, we help you understand what drives your physicians' engagement (or lack thereof) so you can create processes and initiatives that can deliver a marked difference in engagement levels.
Serving the healthcare spectrum with physician and advanced practice provider services
Gallagher has been providing physician and advanced practice provider compensation consulting services for decades across the healthcare industry – including community and children’s hospitals, academic medical centers, large integrated networks, clinics and community health centers. We understand that no two organizations’ needs are alike. We create custom solutions for clients to achieve business goals; attract, retain and engage top talent, and maximize human and organizational performance. Gallagher offers the knowledge, guidance and insights that help healthcare organizations thrive and face the future with confidence.
Meet our Physician Compensation and Valuation Leaders
Physician Compensation and Valuation
- Access to national and regional data through Gallagher, one of the largest national survey databases
- Physician and APP compensation model design
- Physician leadership programs to build and retain top talent
- Physician-executive compensation review and development
