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Physician Compensation Fair Market Value |
Hospitals must base all payments to physicians on the fair market value of the services for which they are paid. Hospital compensation committees, mindful of Sarbanes-Oxley considerations, want solid support in reviewing all physician compensation arrangements. It's often best to use the benchmarking services of an impartial third party in establishing the fair market value of compensation.
DGA consultants help healthcare organizations and their legal counsel to document and determine fair market value of physician compensation, and to structure equitable compensation for employed physicians.
We have extensive experience in benchmarking physician compensation on a hospital-wide basis and on a departmental basis, and have determined fair market compensation for newly created medical directorships and other physician/administrators.
Our services include:
- Applying innovative approaches to keep financial arrangements in compliance while meeting hospital goals and physician expectations
- Developing position descriptions, productivity and level of effort agreements and monitoring systems
- Translating administrative, supervisory and teaching (AS&T) activities for physician faculty and administrators into fair and reasonable compensation ranges
- Determining service levels and fair market value for contracting hospital-based physician services
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