Physician Compensation Analyst

Job Description

Job Description

SUMMARY OF RESPONSIBILITY :

The Physician Compensation Analyst (PCA) provides information and analysis to determine appropriate and reconcile physician / provider compensation in accordance with the compensation plan(s).

The PCA will collect, interpret, and analyze (including benchmarking) data to inform key business decisions for SoNE Health support key financial and clinician compensation administration functions, and complete ad-hoc projects as determined by senior leadership.

Will conduct ongoing consolidated performance reporting and variance analysis and recommend solutions to address variances.

The PCA will work collaboratively with system leaders to ensure physician services compensation and annual operating plans are aligned with SoNE Health goals.

Essential Functions :

• Perform a wide range of clinician compensation functions, including creating reports, extracting data and analysis tasks.
• Support compensation processes, including monthly compensation calculations, quarterly compensation reconciliations, payroll and auditing processes, employment agreement, and systems maintenance.
• Processes network incentive / performance payments across providers and incorporates into compensation calculations and reconciliations per compensation plan.
• Support the administration of clinician compensation processes, including developing notices, conducting complex compensation analytics, and monthly clinician productivity reporting, including predictive modeling around potential compensation or practice changes.
• Partners with departmental leaders, finance, legal, and HR to address issues and conduct collaborative problem-solving.
• Directly conducts benchmarking, competitive market analysis, job evaluation, and internal pay for performance analyses.
• Participates in salary surveys to ensure that physician compensation practices are competitive with market trends and consistent with internal compensation and recruitment strategies.
• Develop data visualizations, presentations, communications, and materials related to the implementation of compensation programs and processes.
• Performs financial modeling & benchmark analyses to advise decision-making for clinical and operational leadership to maintain market competitiveness and alignment with budgetary and regulatory requirements.
• Advises upon and supports the implementation of special initiatives, including addressing changing market demands for compensation and the communication of various compensation programs / practices with a focus on change management.
• Partners with Manager and team members to develop standard deliverables related to internal & external processes.
• Supports regulatory review process (including Fair Market Value) for clinical service lines, as needed.
• Ability to resolve escalated issues arising from clinicians or operations and requiring coordination with other departments.
• Collaborate with cross-functional teams including analysts, payroll, and field & staffing operational teams to ensure effectiveness of variable compensation programs.
• Assists in managing compensation, job, and position data, data integrity, reporting and automation, participants in system integrations and processes.
• Conducts data analysis, financial modeling, performance metric tracking and research projects, including pay equity analysis.
• Assists with salary planning, salary surveys, merit pay, compensation training and audit processes.
• Coordinate compensation processes and projects.
• Maintain complete confidentiality in handling sensitive compensation information and everything connected to SoNE Health.
• Reviews compensation data and job descriptions for consistency and accuracy with HR.

Other Functions :

Performs other duties as assigned.

The duties listed above are intended only as illustrative of the various types of work that may be performed. The omission of specific statements of duties does not exclude them from the position if the work is similar or a logical assignment to the position.

Qualifications

• Bachelor's Degree or equivalent accounting, finance, business, health care administration or related field
• 5 years of relevant experience. Progressively responsible work experience in finance with heavy emphasis on financial modeling and analytics, related to compensation.
• Strong analytical skills and metric management with an ability to execute analysis and recommend outcomes based on interpretation of data.
• Prior experience with database management preferred.
• Advanced Microsoft Excel skills required.
• Experience with Incentive or commissions systems and tools a plus.
• Problem solving skills, critical thinking, and decision-making skills.
• Ability to learn, adapt, and lead a team with influence.
• Strong relationship management skills with experience in partnering and building credibility.
• Very detail oriented individual with strong organizational skills and the ability to multi-task in a fast-paced environment
• Strong verbal, written, and listening communication skills; executive presentation skills.
• Ability to prioritize and adhere to strict deadlines.
• Self-determined with the ability to work independently and multitask in a fast-paced environment.
• This job requires a high level of mental awareness.
• Must be able to conduct themselves in a professional manner via phone, e-mail, business letters, etc.

Preferred

• Preferred Master's Degree or equivalent
• Familiarity with provider compensation plans, compensation, and productivity (e.g., wRVUs) benchmarking, and regulatory requirements (such as Fair Market Value and Stark Law).

This is a base line requirement for me not preferred .

Healthcare industry experience, including but not limited to, hospitals and physician practices. This is a base line requirement for me not preferred .

PHYSICAL AND MENTAL REQUIREMENTS :

The Physical demands and work environment characteristics described here are representative of those that must be met by an employee to successfully perform the essential functions of the job.

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• Regularly required to use hands to finger, handle or feel objects, tools, or controls; reach with hands and arms; and talk or hear.
• Frequently is required to walk and sit.
• Occasionally required to stand; climb or balance; and stoop, kneel, crouch or crawl.
• Ability to lift and / or move up to 20 pounds.
• Vision abilities required by this job include close vision, color vision, peripheral vision, depth perception and ability to adjust focus.
• The dexterity necessary to utilize a computer keyboard on a regular basis is essential.

ADDITIONAL REQUIREMENTS :

• As a condition of employment at SoNE HEALTH, all employees must reside in New Hampshire, Rhode Island, Maine, Vermont, Connecticut, or Massachusetts.
• For the safety and well-being of our employees, all employees are required to be fully vaccinated for influenza.
• If you will be working in a remote or hybrid capacity, we require a stable internet connection. We recommend that you have an internet service provider with speeds of at least 30Mbps download / 5Mbps upload.

A DHERENCE TO THE SoNE HEALTH C ODE OF CONDUCT :

• Code of Conduct : Employee will understand and follow the guidelines and standards outlined in the SoNE HEALTH Code of Conduct and demonstrate an understanding of the SoNE HEALTH Mission, Vision and Core Values.
• Policies and Procedures : Employee will comply with all SoNE HEALTH policies and procedures relevant to their role, including those related to compliance, safety and confidentiality.
• Regulatory Requirements : Employee will ensure actions and behaviors are in accordance with applicable laws, regulations, professional standards, policies, procedures and the Code of Conduct.
29 days ago