Healthcare Flux Alters Compensation Mix
"Because you are going to change how you operate you are probably going to change how you are structured organizationally, which means that jobs are going to change," Otto says. "We are seeing that with certain clients where they have changed operating models, how they are organized, what the jobs are going to look like both now and what they see them turning into in the future and if people are successful at doing that they are going to be in demand."
Otto says healthcare leaders understand that these new demands have changed the way they will be compensated.
"The CEOs who I talk and work with view this as the world they have been living in for a while and we aren't going to go back to the way it was where the heavy lifting of cash compensation increases was coming year over year out of base salary and not out of incentives," he says. "Those days are gone."
John Commins is a senior editor with HealthLeaders Media.
- 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
- Resisting the Healthcare Consolidation Frenzy
- 1 in 5 CT Screenings for Lung Cancer Results in Overdiagnosis
- LifePoint Bolsters Presence in Michigan's Upper Peninsula
- Give Nurses in Wheelchairs a Chance
- Telehealth Improves Patient Care in ICUs
- CMS Sets 2014 Pay Rates for Hospital Outpatient and Physician Services