In June, the Medical Group Management Association released the results of a questionnaire that ranked members' most pressing practice management challenges. In this edition of “Practice Makes Perfect,” we'll tackle No. 7 on that list: Maintaining physician compensation levels in your practice.
Your organization might be working to stabilize operating costs or investing in new technology to better monitor patient populations. Perhaps you are exploring new payment mechanisms and are beginning to incorporate quality and patient-satisfaction components into physician compensation. MGMA data recently identified these new measures and examined their ties to physician compensation plans for the first time. Although there are many challenges to maintaining physician compensation levels in this environment, there are also many ways to mitigate potential issues. Consider these four ways to help maintain physician compensation levels: