Physician Compensation Analyst

Physician Compensation Analyst - 16826If you care about the opportunity to grow, to make a difference, to build a future and a life, then we just might have the career for you. Care to talk?Bayhealth Medical Center is Central and Southern Delaware's healthcare leader with hospitals in Dover and Milford, as well as stand-alone Emergency Department in Smyrna and a hybrid Emergency Department and Urgent Care in Milton. We offer various practice settings throughout Kent and Sussex Counties. Bayhealth Medical Center Kent Campus is 90 minutes from Philadelphia, Washington, DC and Baltimore. Our Sussex Campus is 30 minutes to the Delaware beaches and relaxation in the sand!Bayhealth Medical Center offers a competitive salary and comprehensive benefits package (for eligible positions) including:Generous Paid Time Off and Paid HolidaysMatching 401(k)/403(b) PlansExcellent Health, Dental, and VisionDisability and Life Insurance optionsOn Site Child CareEducational ReimbursementHealth Care and Dependent Care Flex Spending AccountsPlus, an array of Voluntary Benefits to include Critical Care Coverage and more!Location: Human Resources BuildingStatus: Full Time 80 HoursShift: DaysSALARY RANGE: 82,950.40 - 128,564.80 YEARLYGeneral Summary:The Physician Compensation Analyst conducts data collection and analysis involved in making recommendations regarding physician base salary program. Ensures physicians are paid in a timely and accurate manner and physician contracts are precise and consistent. Recommends program and system solutions to address changing needs. Performs a variety of project oriented tasks and supports the routine monthly physician compensation calculations and data integrity of production reporting. Projects include the submission and analysis of compensation survey data used as the basis for physician compensation; review of appropriate RVU (relative value unit) assignment; review of quality metrics and conversion factors; and researching and responding to physician and management queries regarding physician compensation and production. Draft and document any changes in the Physician Offer Letter and/or Physician Amendment letter as well as track all budgetary related items.Responsibilities:1. Drafts physician contracts based on the area of specialty and the predetermined business model. Ensures consistency and fairness based on regulations and fair market value. 2. Monitors and maintains physician contract renewals in advance of the expiration date to properly renew and/or extend relationships. 3. Monitors and maintains physician mid cycle contract reviews. 4. Prepares and submits annual compensation survey data to national survey vendors; reviews survey results and prepare summaries of that data to meet current compensation formula and management needs. Responsible for evaluating market and economic trends; identifying variances and developing recommendations; analyzing costs of proposed recommendations. 5. Updates compensation formulas and/or develop compensation formulas and modeling based on management direction. 6. Prepares and reviews the monthly accounting entries and annual/mid-year physician compensation calculations. 7. Assists the organization with the preparation of the annual budget related to physician compensation and benefits by preparing subsidiary schedules and analyzing data for reasonability compared to current expenses and known changes. 8. Validates physician quality and metric statistics and any applicable bonus criteria. 9. Analyzes the impact of annual changes to the CMS RVU tables impacting physician compensation and summarizes any major changes for Finance to share with the Physician Compensation Committee. 10. Utilizes Microsoft Excel, Access and analysis services reporting tools to review and analyze production data to ensure accurate physician reporting and respond to physician and management inquiries. 11. Serves as a professional resource and provides consultative services and guidance. 12. Maintains documentation on all pay plans in an organized system. 13. Ensures regulatory compliance with all programs, contracts, and policies. 14. May be cross-trained to provide support and back-up for staff and leadership compensation processes. 15. All other duties and special projects as assigned within the scope and range of job responsibilities.Required Education, Credential(s) and Experience:Education: Bachelor Degree Accounting; Bachelor's degree in Human Resources, Finance, Business, or Healthcare related fieldCredential(s):Experience: Required: Five (5) years of relevant healthcare experience relating to physician compensation, human resources/payroll areas, finance, or government regulations.Preferred: Experience in healthcare industry accounting, reporting, or billing. Familiarity with CPT codes, CMS Relative Value Units (RVU) production reporting, and Fair Market Value analysis.Preferred Education, Credential(s) and Experience:Education: Master Degree Business AdministrationCredential(s):Experience: