In Latin, locum tenens means “holding the place.”[1] The term was first used in medieval times to describe the use of clergy to temporarily staff Catholic churches when priests weren’t available. In healthcare, locum tenens emerged in the 1970s as a way to describe the use of temporary physicians in rural markets where local physicians […]
Private equity is increasingly prevalent in the physician practice space, leading to complex arrangements. Richard Chasinoff, Director at Veralon and Michele Masucci, Partner at Nixon Peabody discuss the structure of the management service organization (MSO), the financial, transactional, and regulatory climate and the unique legal and compliance challenges on AHLA’s Speaking of Health Law Podcast. […]
Community and academic physicians increasingly work together in the same health system, with many health systems including an academic medical center (AMC) and its faculty practice plan (FPP). Approximately 20 percent of hospital mergers involve academic medical centers (AMCs) and non-academic providers—resulting in an increasingly blended physician workforce. In this context, disparate physician compensation packages […]
Anesthesia provider shortages aren’t new, and they aren’t limited to certain geographic regions, but they are getting worse—and it’s time to consider new responses. By 2033, the shortage of anesthesiologists nationwide is expected to reach 12,500, according to an often-cited American Association of Medical Colleges (AAMC) report. From 2016 to 2021, the number of anesthesiologists […]
Before the early 20th century, there were virtually no physician specialists in the United States. Today, the list of physician specialties continues to expand as medical knowledge grows with new discoveries and advancements in technology. Now, healthcare leaders must consider: How does this super-specialization affect physician compensation? Specialization and Sub-Specialization Historically, physicians were generalists, but […]
The First Wave 2021 was the big year for WRVU changes associated with CMS’s extensive and far-reaching updates to the Medicare Physician Fee Schedule (MPFS). The changes, designed to ultimately be budget neutral, restructured reimbursement to increase payments to cognitive specialists (such as primary care and other medical specialties) and reduce reimbursement to procedure-based specialists. […]
It’s not easy to determine if there is equity in provider compensation across your organization, given the many departments, specialties, and roles—but it’s essential. Consider the following hypothetical: A local news source reports a 30% pay discrepancy between your male and female maintenance employees performing the same work. Chances are you would rather not have […]
It’s time to stop playing “kick the can” when it comes to physician compensation in hospitals and health systems. When the 2021 Medicare Physician Fee Schedule (MPFS) sought to restructure physician reimbursement by increasing payment to cognitive care specialists such as primary care physicians and reducing reimbursement for procedure-based specialists, it was a move designed […]
As one of the largest health system cost centers and one with significant regulatory implications, physician compensation should be top priority. A comprehensive approach to physician compensation enables the organization to recruit and retain physician talent, align physician incentives with those of the organization to drive performance, and maintain an infrastructure to mitigate risk associated […]
In the final days of 2020, Congress passed, and the President signed into law, the latest coronavirus relief package. This additional round of COVID relief legislation contains welcome news for health care providers: a one-time, one-year increase to physician fee schedule payments for 2021. The legislation creates a 3.75 percent increase in Medicare Physician Fee […]