Medical Director Compensation Increasingly Tied to Value, Quality
As healthcare delivery moves toward value-based reimbursements, medical directors at physician practices are increasingly shouldering duties tied to monitoring quality metrics such as patient safety and satisfaction, a new survey from the Medical Group Management Association shows.
"As we understand the industry is moving towards a value-based reimbursement model we are seeing that permeate and migrate into compensation methodologies as well, for many good reasons, " says Todd B. Evenson, director of data solutions for Englewood, CO-based MGMA.
The survey found that 40% of medical directors report duties that include monitoring quality metrics.
"It is a strong tactic for many organizations to align compensation methodologies with reimbursement methodologies, " Evenson says. " As we look toward the value-based environment, obviously quality and cost are the two biggest components in that equation. We have a snapshot in time with this survey, and my expectation is that it would continue to evolve as the industry moves closer towards more providers getting paid based on value versus a production level. "
The survey includes responses from 1,422 medical directors in 239 medical organizations, including 142 single-specialty practices and 97 multispecialty groups from all across the nation. Among the respondents,
- 54% worked in physician-owned practices
- 27% worked in hospital- or integrated delivery system-owned practices
- 17% were in some other ownership model
- Ebola: Health Officials Try to Quell Front Line Fears
- Reducing Readmissions Starts with Better Collaboration
- Readmissions: No Quick Fix to Costly Hospital Challenge
- Ebola: A New Normal in Dallas
- Defensive Medicine Still Prevalent Despite Tort Reform
- Partners HealthCare M&A Deal Under Scrutiny
- 'Overtreatment' Debate Circles Back to Lung Cancer Screening
- Health Literacy Month Gets a Boost from Payers
- How Educated Nurses Save Money
- How Telehealth Pays Off for Providers, Patients