Manager Provider Compensation

2 weeks ago

Lynchburg, United States Centra Health Full time
Job Description

The Provider Compensation Manager reports to the Director of Compensation and oversees all activities of provider compensation analysts to create compensation plans for physicians and advanced practice professionals in accordance with all policies and procedures.

Responsibilities

Manages all day-to-day activities of the department of provider compensation analysts to ensure that the department meets established standards and timelines.

Collects, analyzes, and interprets market data in order to build and maintain compensation models for physicians and providers that meet business needs as well as to recruit and retain provider talent with minimal oversight.

Coordinates with Provider Recruiting staff to ensure timely provision of compensation offers to provider candidates.

Collaborates with team members and senior leaders to develop term sheets for physicians and Advanced Practice Providers (APPs); provides compensation consultation services, as needed.

Consults on compensation arrangements and meets with physicians and APPs to present and discuss compensation arrangements as needed.

Creates multiple compensation projection models for individual providers while conducting sensitivity analyses and reviewing commercial reasonableness, FMV, and business risk considerations.

Communicates and compiles data as requested by Fair Market Value appraisers/consultants.

Assists in presentation of compensation arrangements/offers in weekly committee meetings to senior level leaders.

Documents and maintains electronic records/files of provider compensation models detailing methodology and explanation of decisions.

Conducts accuracy and completeness review for all provider term sheets.

Updates term sheet benchmarking data on a continuous basis to ensure data is accurate and useful.

Demonstrates through knowledge of provider compensation fair market valuation principles and methods.

Oversees the collection and submission of market survey data for all providers in conjunction with the Director of Provider Compensation

May perform other duties as assigned or requested and job specification can be modified or updated at any time

Qualifications

Required Education: Bachelors Degree preferably in Business, Business Administration, Economics, Accounting, Finance or Statistics; Excel certification of proficiency in pivot tables, Vlookup, Hlookup, Macros.

Preferred Education: Completion of or active enrollment in Masters of Degree in Business Administration (MBA) or related Health Care Management Masters Degree

Required Experience: At least 2 years' experience in provider compensation and/or contracting. Highly skilled in Excel demonstrated by using advanced Excel functions. Demonstrates systematic and precise attention to detail and accuracy. Skilled proof-reader. Relentlessly pursues quality and accuracy. Strong abilities in analysis, critical thinking and able to effectively translate and communicate research and recommendations. Ability to effectively communicate, meet timelines and stay organized on a consistent basis.

Preferred Experience: Experience in writing provider contracts.

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