Exec Director, Physician Compensation

Title: Executive Director of Physician Compensation

Location: Fountain Valley, CA

Department: Finance

Status: Full-time

Shift: Day

Pay Range*: $186,029/annually - $227,702/annually

MemorialCare is a nonprofit integrated health system that includes four leading hospitals, award-winning medical groups – consisting of over 200 sites of care, and more than 2,000 physicians throughout Orange and Los Angeles Counties. We are committed to increasing access to patient-centric, affordable, and high-quality healthcare; your personal contributions are integral to MemorialCare's recognition as a market leader and innovator in value-based and other care models.

Across our family of medical centers, we support each one of our bright, talented employees in reaching the highest levels of professional development, contribution, collaboration, and accountability. Whatever your role and whatever expertise you bring, we are dedicated to helping you achieve your full potential in an environment of respect, innovation, and teamwork.

Position Summary

The Executive Director, Physician Compensation (“EDPC”) is responsible for leading MemorialCare Medical Foundation’s (“MCMF”) physician compensation governance, strategy, policies, procedures, practices, benchmarking, fair market valuation (“FMV”), compliance with federal and state laws and regulations (including Stark and anti-kickback statutes), modeling, analyses, reporting, and administration of MemorialCare Medical Group (“MCMG”), MemorialCare Independent Physicians (“MCIP”), and MCMF’s independent contracted physicians. The EDPC leads the governing bodies and working groups responsible for physician compensation. The EDPC partners with executive and physician leaders to ensure physician compensation models are competitive and incentivize activities, behaviors, to meet MCMF’s clinical quality and financial performance objectives. The EDPC develops and maintains the infrastructure, systems, processes, and personnel necessary to ensure timely, accurate, consistent, and durable administration of physician compensation. The EDPC manages the performance, quality, and deliverables of the physician compensation team and consultants, and is responsible for developing and adhering to the department’s budget. The EDPC is the subject matter expert on physician compensation, productivity, and benchmarking, and applies that expertise and leadership to lead the physician compensation function, mentor and develop team members, and inspire confidence with stakeholders

ESSENTIAL FUNCTIONS

• Chairs the Physician Compensation Executive Committee (“PCEC) to ensure the effective governance an oversight of physician compensation strategy, policies, procedures, practices, benchmarking, FMV, and compliance with state and federal laws and regulations. The EDPC ensures issues are duly prepared and concisely framed to enable effective deliberation and decision making. Ensures complete and accurate meeting minutes and supporting documentation of each PCEC meeting.
• Chairs and/or oversees leadership of various physician compensation working groups to work through issues and proposals regarding physician compensation. Ensures timely deliberation of issues and facilitates decision making within existing policies, procedures, and practices. Escalates issues and proposals to the PCEC as needed for adjudication. Ensures issues and proposals escalated to the PCEC are duly prepared, clear, and concise.
• Leads the development of physician compensation strategies with key stakeholders and staff members to ensure physician compensation is competitive and incentives activities, behaviors, and performance to meet MCMF’s clinical quality and financial performance objectives. Develops strong relationships with key stakeholders to ensure their participation and feedback in physician compensation strategies.
• Leads the development, documentation, and implementation of physician compensation policies, procedures, and practices in conjunction with key stakeholders and staff members.
• Leads the periodic renegotiation of the MCMG and MCIP physician services agreements (“PSA”), with collaboration and support from the PCEC.
• Provides guidance and oversight of physician compensation modeling and terms for PSA negotiations conducted by the network management team.
• Leads the development, documentation, annual updates, and appropriate application of physician productivity and compensation benchmarking data and derivative tools in accordance with existing policies and best practices. Manages staff members and outside consultants to ensure benchmarking analyses and reports are completed timely, accurately, and in accordance with existing policies and best practices.
• Leads engagements with outside consultants to timely and accurately complete periodic FMVs as needed. Manages staff members in support of FMV engagements.
• Ensures physician compensation rates, models, and outcomes are compliant with MemorialCare FMV guidelines and federal and state laws and regulations. Maintains membership and engagement with key trade groups (e.g., MGMA, AMGA, AAPCP, HFMA, etc.) to keep current on emerging and new laws, regulations, and best practices. Develops and maintains strong relationships with strategic advisors and consultants (e.g., ECG, SullivanCotter, etc.) to keep current on emerging and new laws, regulations, and best practices, as well as to maintain access to expertise and consultants.
• Oversees physician compensation modeling, sensitivity analyses, and analytical workflows. Ensures source data and workflow processes and logic are complete and accurate, and ensures appropriate controls, processes, procedures (including QA), and practices are developed and followed.
• Proactively communicates and coordinates with key stakeholders and team members as needed to facilitate common understanding, action, follow-up. and closure.
• Plans, prioritizes, directs, and supervises the work activities of physician compensation team and external consultants. Works to continually refine, streamline, and automate upstream, instream, and downstream workflows, ultimately to improve the efficiency, accuracy, timeliness, and reliability of deliverables.
• Mentors and develops staff. Creates a safety culture, a culture of learning and collaboration.
• Ensures the timely and accurate disbursement of physician compensation, including base pay, periodic incentive payments, and ad hoc payments (e.g., excess shifts, moonlighting shifts, etc.).
• Lead and direct the annual budgeting process for the MCMG and MCIP PSAs.

16)Meets weekly with the MCMF CFO to coordinate work and ensure strategic objectives are prioritized and completed timely.

*Placement in the pay range is based on multiple factors including, but not limited to, relevant years of experience and qualifications. In addition to base pay, there may be additional compensation available for this role, including but not limited to, shift differentials, extra shift incentives, and bonus opportunities. Health and wellness is our passion at MemorialCare - that includes taking good care of employees and their dependents. We offer high quality health insurance plan options, so you can select the best choice for your family. And there’s more... Check out our MemorialCare Benefits for more information about our Benefits and Rewards.

Minimum Requirements

Qualifications/Work Experience

• Minimum of 5 years of director or higher-level leadership experience in healthcare or finance.
• Minimum of 3 years experience leading a team of 3 or more staff.
• Demonstrated expertise in complex financial analysis.
• Demonstrated expertise presenting to and working with executive teams.

Education/Licensure/Certification

• Bachelor’s degree in quantitative discipline, e.g., business, accounting, finance, economics, engineering, mathematics, physics, etc.
• Master’s degree in business administration, healthcare administration, or a quantitative discipline.