Analyst - Physician Compensation
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POST DATE 8/19/2016
END DATE 7/19/2017
Northwestern Memorial Healthcare
JOB DESCRIPTIONThe Physician Compensation Analyst reflects the mission, vision, and values of NM, adheres to the organizations Code of Ethics and Corporate Compliance Program, and complies with all relevant policies, procedures, guidelines and all other regulatory and accreditation standards.
The Physician Compensation Analyst works collaboratively with NM physician business unit operational leadership to carry out the guiding principles of the NM physician compensation plan. The Physician Compensation Analyst is responsible for regularly producing accurate and insightful reports and analyses in a timely and efficient manner. The Physician Compensation Analyst will provide analytical support for a) the development of financial, production, compensation and operational targets and models as they relate to physician performance, and, b) the coordination of the development, implementation, monitoring, and updating of the NM physician compensation plan.
Physician Compensation & Performance:
* Maintain dynamic model that will allow for regular refinement / analysis of physician compensation plans, including various scenarios and plan changes.
* Work with Service Group and Department leadership on ad-hoc analyses designed to support discussions and decisions related to individual physicians compensation and performance.
* Assist with regular Service Group / Department-led validation of compensation plan outputs.
* Assist NMG Payroll with the interpretation of compensation plan results, ensuring timely and accurate payments.
* Coordinate with NM BI/Analytics to perform regular quality control analyses, ensuring accurate NMG physician compensation calculations and other model outputs.
* Maintains physician confidence by keeping information appropriately confidential.
* Using organizational guiding principles and industry best practices, support the development and implementation of compensation plans for NMHC employed physicians.
* Support continual enhancement of analytics and reporting for the physician compensation plan, including actual versus budgeted performance, trending analysis, and comparisons to recent internal and external benchmarks.
* Support creation and maintenance of uniform methodology and database to accurately capture physician demographic information.
* Support incorporation of relevant physician performance metrics in to physician-level reporting platform to inform/influence the physician compensation plan.
* Assist with physician contractual agreement review for new and existing providers using physician compensation guiding principles.
* Support monthly physician compensation plan process, ensuring data is timely and accurately captured in the compensation tool.
* Support financial modeling of NMHC physician group acquisition targets.
* Support proposed physician compensation structure and fair-market value for new growth and strategic initiatives, as needed.
* Three (3) or more years of health care finance, analytics, or financial analysis experience.
* Bachelors degree in Accounting, Finance, or related field.
* Advanced knowledge of Microsoft Office programs, particularly Microsoft Excel.
* Strong analytical and problem-solving skills.
* Strong verbal and written communication skills.
* Masters degree in a relevant analytical field.
* Understanding of and experience working with relational databases.
* Experience in academic medical center preferred.
* Experience in administration of physician compensation plans.