Hospitals and health systems aren’t the only organizations grappling with how to navigate the transition from volume to value-based care.
Health plans are also feeling the pressure associated with changing reimbursement models, an uncertain regulatory environment and greater industry consolidation as they struggle to control costs and retain members in an increasingly complex and consumer-driven marketplace.
The ability to attract, retain and engage key talent through competitive and customized total rewards programs is essential to maintaining leadership stability in a rapidly evolving marketplace. With over 25 years of health care experience, SullivanCotter leverages deep industry insight and a wealth of proprietary data to help health plans across the country confidently manage their executive and employee compensation strategies. We work with boards and executives alike to analyze best practices, develop comprehensive governance processes and align workforce performance with key organizational objectives.
Our comprehensive services for health plans include:
Executive Compensation and Governance
- Designing, evaluating and implementing executive total compensation programs
- Selecting appropriate and defensible peer groups for compensation benchmarking
- Determining and documenting reasonableness of compensation programs to help ensure compliance with federal and state regulations
- Developing incoming and outgoing executive compensation and benefits packages
Employee Compensation
- Designing competitive cash compensation programs, including salary and incentive programs
- Developing salary administration strategies, including salary structure design and evaluation
- Analyzing programs for external competitiveness and internal equity
Board Compensation and Governance
- Educating board on best practices and regulatory requirements
- Designing, evaluating and implementing board compensation programs
- Researching and facilitating best practices in board governance
Related Information
Navigate today’s evolving health care landscape with strategic workforce insights for your health plan.
Related Resources
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INFOGRAPHIC | 2024 Health Care Staff Compensation Survey
Equip your health care organization with the latest employee compensation insights! Download our infographic to preview the 2024 survey results – including annual compensation, salary increase budgets, and projections as we move forward into next year.
Take Your Organization’s Career Architecture to the Next Level
Job leveling is a critical part of an overall career architecture, helping to clarify role progression and streamline your health care organization’s hierarchy and decision-making processes. In today’s competitive landscape, it’s vital to understand the significance of job leveling and how it can serve as a cornerstone for effective workforce planning and organizational success.