Base salary/base pay is often derived from what factors?
Base pay is derived from factors such as market data or internal comparison for a defined period. This model may or may not incorporate merit into the base calculation.
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Give one example of how productivity incentives can backfire?
Experts warn, however, that productivity incentives can backfire. Hamot Health Foundation, a hospital network in Erie, Pa., that employs 30 primary care physicians, guarantees a base salary of about $100,000 for a workweek of less than 28 hours.
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How much is a physician permitted to receive in gifts, items, services, etc, per year, and what are the conditions attached to those non-monetary compensations?
Phase I of the final regulations creates a “non-monetary compensation up to $300” exception to Stark II.
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How often should practice-based charges be processed?
24-48 hours.
How would you use marketing to introduce yourself to the medical community?
Announcements, an open house, yellow page ads, dinner with key physician leaders, and/or a marketing piece profiling the physician, the physician’s specialty, education/training, family, etc.
I understand technical revenues generated by an office practice contribute more significantly to the overall practice expenses than does professional revenue, but how are those fees generated?
Laboratory, x-rays, MRIs, chemotherapy, procedures, etc.
Most compensation plans use a variation on one of three basic models. One model is called “equal-share”. List two other models and explain how they are used to determine compensation.
Most plans use a variation on one of three basic models: pure salary arrangements that base wages on industry data; equal-share arrangements in which physicians split evenly what remains after expenses;
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Nonpayment of an expected reimbursement is call what?
Bad Debt
On average, physician work RVUs make up 55% of the total RVUs of a service, with work being composed of what elements?
Physician work represents the effort of the physician in providing professional service. On average, physician work RVUs make up 55% of the total RVUs of a service.
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Organizations continue to set fee schedules in a manner that optimizes revenue, but what are the risks and why?
Fee schedules are great tools for generating revenue, but increasingly difficult compensation work-effort measures.
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