HR PHYSICIAN COMPENSATION ANALYST
The Sr. Compensation Analyst for Providers’ Comp leads the development, design and administration of compensation programs for providers (Physicians and Advanced Practice Providers) in Methodist Medical Group and PASD. Continuously evaluates market pay data and industry trends, and reports findings to maintain competitive and cost effective pay practices. Documents fair market value and commercial reasonableness.
Your Job Requirements:
- Bachelor’s Degree required.
- Major in Business, Economics, Finance, Accounting or Health Administration preferred.
- 5 years experience in compensation principles, practices and analysis.
- Health care experience, including experience in designing and implementing physician compensation models and aligning with health system strategies highly desired.
- High proficiency skills in Microsoft Excel, compensation management software and financial systems.
- Excellent critical thinking and analytical skills.
- Strong understanding of Stark, Anti-Kickback Statute, FMV concepts and competitive market benchmarking.
- Working familiarity of tax laws, equal employment opportunity laws, and pay equity regulations.
- Typical professional office environment, and potential for work-from-home some days.
Your Job Responsibilities:
- Conducts market pay assessments of individual jobs and/or medical practice groups, using available competitive market data resources, internal equity comparisons and professional knowledge/experience.
- Document results and provides cost impact analysis (projections) for any proposed compensation changes.
- Develops and administers compensation structures, models, incentive programs and processes based on professional category (physician, nurse practitioner, physician assistant, etc.) and medical practice type, these may include value-based provider compensation, income guaranty, ER or after hours call, etc.
- Provides advice and guidance to senior leadership regarding these structures, models, programs and processes.
- Prepares a compensation package recommendation for prospective new providers, which may include sign-on bonus, relocation reimbursement, student loan repayment and other components.
- Ensures compliance with employment agreements regarding compensation and produces associated reports as needed.
- Ensures provider compensation models and practices are effective, well understood, market competitive, compliant with applicable state and federal laws and regulations, and aligned with Methodist Medical Group/PASD physician compensation philosophy and with strategic objectives.
- Assesses competitive market (medical groups, employers of professional medical providers) regarding supplemental or specialty benefits programs; advises senior leadership regarding such offerings and assists in obtaining competitive proposals from vendors.
- Reports to medical group and HR leadership, keeps up to date re significant issues/developments and assists in communications regarding total compensation which are clear, concise and informative.
- Provides expertise to management and staff; and serves as an internal consultant while providing training for management personnel as needed.
- Works collaboratively in all aspects of physician/APP recruitment.
- Participates in medical group budget process and conducts or assists in audits as requested.
- Coordinates with Human Resources and Payroll staff to maintain data system elements affecting compensation, including job and position codes, job titles, pay grades/ranges and premium pay components.
- Other Job duties as assigned.