At Becker's 13th Annual Meeting recently, a panel discussion focussed on shifts occurring within physician employment, how health systems are approaching physician contracts and what changes could be coming down the pipeline in the coming years.
Changes in Physician Contracting
There have been a variety of changes to physician contracting recently, such as shorter contracts and an increased focus on value-based components. Organizations have made efforts to build recruitment pipelines and offer incentives to retain existing physicians. California's ban on non-compete contracts has also forced organizations to get creative with their retention strategies.
Transition to Value-Based Care
Health Systems and providers are moving away from fee-for-service models towards value-based care. This is something that health systems have been working on for a while, but there are still some challenges and questions when it comes to compensation. Organizations like Optum are at the forefront of this shift and are working to figure out how to incentivize physicians to participate in value-based care. The trend towards team-based compensation is also gaining traction as it encourages collaboration among providers.
Importance of Physician Leadership and Fairness in Contracts
Logan and Clay discussed the importance of physician leadership in implementing quality initiatives and compensation models. Scott discussed how Marshfield Clinic is focusing on engagement scores and creating an office of physician and APC relations to better serve their employees. He also touched on the importance of transparency and fairness when it comes to contracts.
Retention Strategies
The panel discussed the difficulty of retaining physicians due to the current generation's willingness to move around for higher salaries. To close this gap, organizations should focus on creating a formal retention program that focuses on work-life balance, burnout, administrative support and practicing at the top of their license.
Note: This is an AI generated transcript, not edited by a staff writer and is solely intended for educational purposes. If you have any questions/concerns, reach out to events@beckershealthcare.com
This panel was live on 04/04/2023 at the event listed here.
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