1 in 3 Medical Directors in Line for Bonus Pay
The report stated that there is an "explosion of physicians in medical directorship and being involved in leadership positions." Independent contractors accounted for 54% of the medical directorships, while 46% were employed physicians.
Generally, hospitals are "putting much more time and money into medical leadership positions," Chad Stutelberg, executive vice president and practice leader for physician services at HIS, told HealthLeaders Media. "Twenty years ago, all of these guys would have been independent contractors, because physicians weren't employed by hospitals."
Over time, as hospitals move from fee-for-service toward value-based care, Stutelberg anticipates increasingly advantageous medical director contracts for physicians, especially in the form of bonuses.
While 34.7% of the organizations offered a medical director performance bonuses this year, 65.3% did not. But more than 25% reported they are considering implementing a bonus for medical directors, an increase from 19.4% last year, according to the survey. It would not be surprising if the actual bonuses climb the next year, Stutelberg said.
- MU Compliance Announcement Sparks Concern, Confusion
- New G-Codes to Pay Doctors for Broad Array of Non-Face-to-Face Care
- Scary Financial Challenges for 2014
- MGMA Urges 'End-to-End' ICD-10 Testing
- 1 in 5 CT Screenings for Lung Cancer Results in Overdiagnosis
- Telehealth Improves Patient Care in ICUs
- CMS Sets 2014 Pay Rates for Hospital Outpatient and Physician Services
- LifePoint Bolsters Presence in Michigan's Upper Peninsula
- States Rejecting Medicaid Expansion Forgo Billions in Federal Funds
- Douglas Hawthorne—A Chance to Do Something Big