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
The Governance Institute | Academic Health Focus
A comprehensive review of current compensation practices can serve as the foundation for driving performance in an increasingly complex operating environment.
Proactive Workforce Planning: Grounded in Data
Featured in Fierce Healthcare, SullivanCotter’s President and CEO, Ted Chien, outlines the importance of utilizing robust data and benchmarks to build a more resilient workforce model that helps support the delivery of high-quality care and enhance financial sustainability.
INFOGRAPHIC | 2022 Workforce Metrics Benchmark Survey
Utilizing data from SullivanCotter’s 2022 Workforce Metrics Benchmark Survey – which includes information on 10 job families, 6 career level stages, and 3 demographic groupings – organizations can reevaluate their employee workforce planning and distribution efforts to help offset rising costs and create a more sustainable workforce architecture.