Modern Healthcare | 2019: Annual Executive Compensation Article
Hospitals and health systems focus on annual and long-term incentive strategies to help attract, retain and engage key executives
The industry goals of improving quality, access and satisfaction while also reducing costs remain a top priority in the transition to value-based care. Hospitals and health systems continue to explore bold new ideas impacting who administers care and how it is delivered, and must have executive leadership in place with the skills and experience necessary to lead such transformation.
With qualified talent in short supply as roles and responsibilities expand, a more deliberate approach to attracting, retaining and engaging key executives is required. Aligning pay with performance is critical, and organizations continue to focus on annual and long-term incentive strategies in order to keep pace in a rapidly evolving health care environment.
Learn more from Modern Healthcare's annual executive compensation article, featuring data from SullivanCotter's 2019 Manager and Executive Compensation in Hospitals and Health Systems Survey and insights from Managing Principals Bruce Greenblatt and Tom Pavlik.
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INFOGRAPHIC | 2018 Not-for-Profit Manager and Executive Compensation Survey
Featuring compensation and benefits data from 121 different not-for-profit organizations
Competitive compensation, benefits and talent strategies are essential to delivering on the mission of high-performing not-for-profit organizations. As organizations look to remain competitive in today's complex operating environment, attracting, retaining and engaging key talent is both a top priority and a constant challenge. Access to the right data is critical, and understanding key compensation benchmarks and pay practices can help to address the complexities that mission-based organizations are facing.
View highlights from the results of our 2018 Not-for-Profit Manager and Executive Compensation Survey, which features data from 121 organizations and focuses exclusively on compensation and benefits practices in service and charitable organizations, trade and professional associations, research institutes, health plans, education and more.
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INFOGRAPHIC | 2018 Physician On-Call and Telemedicine Compensation Survey
Featuring complex physician call pay and telemedicine compensation data from over 255 participating organizations
With comprehensive information on 2,372 individual call contracts, SullivanCotter's Physician On-Call and Telemedicine Compensation Survey provides hospitals and health systems with the data they need to help address complex call pay issues, understand emerging trends in telemedicine, negotiate contracts and evaluate physician fair market value.
View highlights from the 2018 results to learn more, and purchase your copy of the survey report!
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INFOGRAPHIC | Unrestricted On-Call Pay for Advanced Practice Providers
Insight into on-call pay practices for Advanced Practice Providers
Advanced practice providers (APPs) continue to be an important resource as organizations strive to meet patient demand. Developing an effective on-call pay approach for APPs helps to increase patient access and support care coverage needs, and understanding the data and benchmarks regarding this premium pay practice is critical. This infographic highlights important unrestricted on-call pay trends and metrics including prevalence, thresholds, hourly rates for call coverage, compensation methods and important considerations in developing or updating your organization's related policies.
Learn more about SullivanCotter's Advanced Practice Provider Compensation and Pay Practices Survey, featuring data from more than 600 organizations on nearly 67,000 individual APPs.
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CASE STUDY | The Value of APPs in Driving Organizational Performance
Advanced practice providers (APPs) are one of the fastest growing workforces in health care.
Not only has the APP workforce more than doubled in the last 15 years, but physician assistants and nurse practitioners are also ranked as the third and fourth best overall jobs in 2018 by U.S. News & World Report. The focus on team-based care continues to intensify and, in order to truly help transform care delivery, the role of APPs must be more clearly defined to better partner with physicians. Health systems and medical groups nationwide seek to drive better performance as the industry transitions from volume- to value-based care, and achieving the strategic goals of access, quality, affordability and provider satisfaction is a top priority.
As one of the top 10 largest children’s hospitals in the country and Arizona’s only pediatric quaternary care hospital for high acuity, complex conditions, leadership at Phoenix Children’s Hospital (PCH) recognized the need to utilize APPs more effectively to help transform patient care delivery.
Learn how SullivanCotter partnered with PCH to develop a comprehensive APP workforce and utilization strategy aligned with system-wide goals and objectives – helping to drive organizational performance while enhancing patient access, quality of care, and APP retention and satisfaction.
This case study outlines their journey and highlights their background the process they utilized, lessons learned along the way and key results to date.
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INFOGRAPHIC | 2018 Benefits Practices in Hospitals and Health Systems Survey
INFOGRAPHIC | 2018 Benefits Practice in Hospitals and Health Systems Survey
Data to to benchmark executive, physician and employee benefits programs
Uniquely focused on only hospitals and health systems, this survey helps organizations address challenges related to executive, physician and employee benefit programs. This includes comprehensive benchmarking data and insights as it relates to optimizing benefit offerings, implementing retirement plans for evolving executive and physician roles, and keeping pace with emerging trends in paid time off allowances, continuing medical education, severance policies, disability programs and more.
View highlights from two different sections of SullivanCotter’s 2018 Benefits Practices in Hospitals and Health Systems Survey, featuring data from more than 200 health care organizations.
AHA Trustee Insights | Key Action Steps for the Compensation Committee
Ensure alignment between executive compensation and key health system objectives
The marketplace for health care continues to evolve, and organizations are increasing the size and scale of their operations in response. New executive positions are emerging and growing in organization-wide impact while selected roles, especially at the subsidiary hospital-level, are narrowing in scope – leaving health care leaders to reconsider whether their current compensation strategy is still the best fit.
To help ensure continued alignment between executive compensation and key organizational objectives, not-for-profit hospitals and health systems must periodically review and update these programs in the context of a rapidly changing health care environment.
Featured in the March edition of the American Hospital Association's Trustee Insights, SullivanCotter highlights important action steps for the compensation committee as they determine if corresponding updates are necessary.
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HFMA | Advanced Practice Providers Optimize Efficiency and Improve Financial Performance
Advanced practice providers (APPs) play a critical role in transforming care delivery
With a looming physician shortage and an ever-increasing population of patients, access to primary care and specialty providers remains a chief concern for health care organizations nationwide. To help meet this demand and avoid potential disruption to quality, service and cost, many hospitals and health systems are rapidly expanding the number employed APPs.
To support the critical role APPs play in transforming care delivery, improving performance and helping to achieve key financial results, organizations must undertake a deliberate and strategic review of the scope of practice, care team role, levels of engagement, governance, and compensation and payment structures for all APPs.
Featured in a recent edition of the Healthcare Financial Management Association’s CFO Forum, learn how SullivanCotter partnered with Phoenix Children’s Hospital to develop a comprehensive APP workforce and utilization strategy aligned with organizational goals and objectives – helping to improve overall financial performance while enhancing patient access, quality of care, and APP retention and satisfaction.
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INFOGRAPHIC | 2018 Advanced Practice Provider Compensation and Pay Practices Survey
With the demand for advanced practice providers (APPs) on the rise, organizations are looking for better ways to attract, engage and retain the best talent.
As health care evolves, APPs play a critical role in helping to achieve greater access, lower the cost of care and address the growing physician shortage. Understanding trends in compensation, pay practices, productivity, work effort and more is critical as health care organizations develop comprehensive strategies to manage and utilize their growing APP workforce.
View highlights from SullivanCotter's Advanced Practice Provider Compensation and Pay Practices Survey, featuring data from more than 600 organizations on nearly 67,000 individual APPs.
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PODCAST | Governing Health: Executive Compensation Trends
Board Engagement and Expertise
In a rapidly evolving health care environment, establishing executive compensation and related pay practices remains a critical responsibility of the Board of Directors. These decisions are complex, highly regulated and require heightened board engagement and specialized expertise.
In this edition of the Governing Health Podcast Series, Michael Peregrine, Partner, McDermott Will & Emery, welcomes two of the leading voices on executive compensation trends and practices in health care: Ralph DeJong, Partner, McDermott Will & Emery and Tim Cotter, Chairman and Managing Director, SullivanCotter.
This episode includes a discussion of:
- Latest executive compensation reports
- Evolving use of metrics, data and performance outcomes
- Development and maintenance of incentive plans
- Post-merger compensation trends
- Relationship between talent management, retention and compensation
- Impact of the Tax Cuts and Jobs Act
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HFMA | Health Care Executives with Unique Skills are Leading Total Rewards Trends
Evolving Executive and Physician Leadership Talent Requirements
SullivanCotter’s Bruce Greenblatt, Principal, and Kim Mobley, Managing Principal, are featured authors in the Winter 2019 issue of HFMA’s Strategic Financial Planning newsletter.
As healthcare organizations continue to operate in a complex and uncertain environment, the following trends are impacting executive and physician leadership talent requirements and total rewards:
- Consolidation activity as organizations expand geographically and increase their scale and service offerings
- Disrupters outside the healthcare sector, including private equity and technology organizations
- Changing payment models with more revenue at risk that often result in lower margins and capital
- Care systems are streamlining operations and clinical activity to realize the promise of larger scope and scale
- Value-based models focus on expanding access, providing a superior patient experience, and delivering high-quality and cost-effective care
To recruit, retain, and engage highly effective leadership in today’s marketplace, organizations must implement competitive total rewards programs. It is important to design rewards strategies that align:
- Executive and physician leadership talent
- Total rewards with market trends and benchmarks
- Total rewards with performance
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Modern Healthcare | New CMS Star Ratings Ignore Socio-Economic Factors
Assessing CMS Star Ratings
In a December issue of Modern Healthcare, SullivanCotter helps to analyze how the inconsistent application of peer groups between CMS’s new star ratings and the Hospital Readmissions Reduction program are creating sizable discrepancies in reported performance. By not risk-adjusting hospitals by peer groups based on their dual-eligible population in the latest preview of the CMS star ratings, hospitals with the largest percentage of dual-eligible stays fared worse than others in the readmissions category - hurting their overall star rating.
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ACHE | Healthcare Changes and New C-Suite Roles
Evolving C-Suite Roles in a Rapidly Changing Health Care Environment
In this article featured in the November/December issue of ACHE’s Healthcare Executive magazine, SullivanCotter’s Mark Rumans, MD, Chief Medical Officer, and Christina Terranova Asselta, Managing Director, discuss how health systems have created and defined new C-Suite roles and changed their leadership teams to adjust to the rapidly changing health care environment.
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INFOGRAPHIC | 2018 Health Care Staff Compensation Survey
Focusing on compensation and pay practices across the entire health care organization
Health care continues to evolve at a rapid pace, and organizations must balance the need to manage labor expense with the ability to compete and perform in an increasingly competitive talent market. This requires greater focus on compensation and pay practices across the entire health care workforce, including not just executives and providers but staff and other professionals in administrative, nursing, service and supervisory roles as well.
View highlights from SullivanCotter's 2018 Health Care Staff Compensation Survey, featuring data from nearly 600 organizations on 58,000 different health care professionals.
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INFOGRAPHIC | APP Leadership Practices and Structures
Supporting APP retention and engagement
Advanced practice providers (APPs) comprise one of the fastest growing workforces in the United States and are integral to effective and efficient health care delivery.
Organizations are seeing the need for leadership structures and practices to help support this important workforce.
Looking to gain additional insight? Contact us to learn more about developing effective APP leadership practices, structures and compensation strategies to help support your growing APP workforce.
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Split-Dollar Life Insurance: Risks, Benefits and Key Considerations
Delivering cost-effective executive benefits
Health care organizations are facing increased pressure as they try to recruit and retain top talent. At the same time, the onset of the 2017 Tax Cuts and Jobs Act and the introduction of a 21% employer-paid excise tax on compensation over $1 million for top-paid executives has left some hospitals and health systems asking the following question: Is there a more cost-effective way to deliver compensation and benefits?
These challenges have triggered renewed interest in split-dollar life insurance, although limited adoption rates have been observed to date based on SullivanCotter’s 2018 Benefits Practices in Hospitals and Health Systems Survey. While, under certain circumstances, split-dollar life insurance has the potential to reduce costs for the employer while delivering a similar or greater benefit for the executive, it is a much more complex approach than cash-based compensation structures and carries risks that must be carefully evaluated.
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INFOGRAPHIC | 2018 Hospital-Based Physician Compensation and Work Effort Survey
Emerging Trends in Hospital-Based Physician Compensation and Work Effort
Featuring data from 45 health care organizations, this survey provides insight into the issues specific to hospital-based specialties, clinical work effort and the related compensation structures.
View highlights from this year's results and learn more about our Hospital-Based Physician Compensation and Work Effort Survey.
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INFOGRAPHIC | 2018 Physician Compensation and Productivity Survey
Benchmarking physician compensation and pay practices
As health care organizations nationwide look to optimize clinical care and ensure financial stability in a highly complex environment, physician compensation programs are evolving to address changing models of care, the need for organizational alignment and a competitive market to talent.
View highlights from SullivanCotter’s 2018 Physician Compensation and Productivity Survey, featuring data from nearly 750 organizations covering more than 167,000 individual physicians and advanced practice providers.
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Employers Choose Bonuses Over Raises
SullivanCotter Featured in the Wall Street Journal
In today's competitive talent market, organizations are looking for ways to attract and retain talent while controlling costs. The increasing use of incentives over traditional raises in base pay is trending across all industries. As health care organizations continue to focus on driving performance and enhancing organizational alignment, incentive compensation remains a key component of competitive total rewards programs. SullivanCotter was proud to contribute to this recent article, published in the Wall Street Journal, highlighting this shift in pay practices.
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INFOGRAPHIC | Physician Executive Compensation
Emerging Compensation Trends for Physician Executives
Health care leaders with strong clinical backgrounds are in high demand as the focus on value-based care intensifies. As a result, there are more opportunities than ever before for physicians to move into executive positions at hospitals, health systems and medical groups across the country.
Gain additional insight from SullivanCotter's Physician Executive Compensation Survey and Medical Group Executive Compensation Survey.
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