Director of Physician

Summary

Entity: Penn Primary Care (PPC) and Penn Specialty Practices (PSP)

Location: 150 Monument Road

Hours: Per Departmental Needs (Hybrid)

Accountable to the SVP, PMMG Regional Practices, the Director of Physician Compensation will lead a team of physician compensation and finance professionals, providing strategy, planning and consultation related to complex compensation plans and contract management across PMMG Regional Practices. Responsible for designing, researching, developing, modeling, recommending, reconciling, and maintaining the compensation plans for physicians across Penn Medicine Medical Group Regional Practices.

This position will utilize and research compensation surveys and best practice compensation strategies and methods to determine fair market salaries. Productivity measures, by practice, will be collected, reported and used to calculate variable pay. Responsible for providing consultation to Senior Management and Physician Recruitment on salary offers and compensation plans. Partners closely with Finance, Operational leaders, Provider Recruitment, Corporate Compensation and Physician Leadership to align Provider Compensation plans and strategies.

• Create a plan for strategic review and development of compensation plans using best practice methodologies and adhering to the Penn Medicine Medical Group Regional Practices Compensation Philosophy, which includes:
• Alignment in philosophy and components by specialty.
• Balance in plan design and risk/reward combinations.
• Simplicity and transparency to foster engagement with clinicians.
• Sustainability through fiscal responsibility and preparation for changing environments.
• Streamline and create consistent approach to compensation reconciliation and plan modifications.
• Direct the development and maintenance of all physician compensation and employment contracts, including a detailed database of specific incentive programs, renewal terms, FTE allocations, and other applicable compensation provisions provided in employment agreements.
• Maintain central database of all of the compensation models and plan documents.
• Act as a consultant and liaison with compensation committees, Business Development, external consulting firms, and AVP of Corporate Compensation, as needed.
• Ensure guidelines, as established under the Physician Compensation Program Plan Document, are followed. Responsible for maintenance and revisions of Plan Documents, as necessary.
• Evaluate and recommend salaries for role changes or FTE adjustments, outside engagements, and compensation plan for external candidates. Liaise to ensure contract addendums reflect any changes.
• Research and analyze physician group market data and select appropriate aligned benchmarks comparable to Penn Medicine Medical Group Regional Practices, including geographic and specialty specific differences. Align benchmarks across PMMG Regional Practices.
• Utilize and participate in recognized physician compensation surveys, including but not limited to Sullivan-Cotter, MGMA, Hay, Clark’s, and HCS.
• Help standardize the Fair Market Value (FMV) process with the compensation function; work with Physician Recruitment team to provide guidance on proformas, compensation offers, and contract renegotiations based on FMV.
• Provide consultation to Senior Management on market data for physicians and ensure Penn Medicine Medical Group is adhering to Safe Harbor guidelines and fair market value.
• Work with designated legal and Provider Services teams to ensure contracts reflect updates to compensation plans and FTE allocations, inclusive of contract renegotiations.
• Work in close partnership with Corporate Compensation, Hospital Leadership, Human Resources, Operations, and Finance to represent PMMG Regional Practices.
• Performs duties in accordance with Penn Medicine and entity values, policies, and procedures.
• Other duties as assigned to support the unit, department, entity, and health system organization.

Bachelor of Arts or Science (Required)

Education Specialization:

in Compensation, Human Resources, Accounting, Business Administration or related Healthcare field
Equivalent

Experience:

and 5+ years healthcare compensation experience, ideally within provider compensation (physician and advanced practice providers) Experience with productivity and incentive compensation models, external benchmarking, and professional fee reimbursement