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