Physicians expect about 50 percent of their total compensation in the next 10 years to come from value-based payment models, according to the "2014 Survey of U.S. Physicians" from Deloitte.
The survey, which tapped more than 560 physicians, found that most physicians (78 percent) still prefer traditional payment models to value-based payment models. This may be because more than half of the physicians surveyed (52 percent) reported receiving 10 percent or less of their compensation from performance bonuses or incentive payments in the last 12 months. Many physician respondents (78 percent) are also concerned about being penalized for factors out of their control in a value-based payment model and for not receiving credit for quality improvements not included in performance goals, according to the report.
Despite this reluctance for value-based payment models, the physicians surveyed identified the following skills as critical to future success in medicine.
- Interpersonal/communication skills — 91 percent
- Broadened health IT skills — 80 percent
- Leadership and management skills, including strategic planning and financial management — 74 percent
- Employment contract negotiation skills — 71 percent
- Financial and actuarial skills — 64 percent
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