Physician Compensation Planning
A national shortage of pediatric subspecialty physicians, escalating compensation costs, and the increasing inadequacy of professional collections to support physician salaries has put greater emphasis on compensation plan design. The optimal plan design requires an understanding of the complex pediatric clinical practice environment, the recognition of teaching and research foci, and the importance of aligning divisional, group-wide, and system-wide incentives.
ECG has unrivaled experience in compensation planning for pediatric physicians in a variety of primary academic and private practice settings. Our experience is continually strengthened through conducting proprietary compensation and production surveys for physicians for more than ten years, including our annual National Pediatric Subspecialty Physician Compensation, Production, and Benefits Survey . By combining these surveys with our consultants’ in-depth analysis of cutting edge trends and methodologies, we help clients make informed compensation arrangements for each project.
Selected Projects
Developing a strategic plan for a freestanding children’s hospital. Expand Minimize
ECG assisted a large freestanding children’s hospital in developing a 3-year strategic plan. The resulting plan identified key strategies and tactics to allow for the fulfillment of the potential of the existing clinical and academic programs, provide for the expansion of key service lines, and implement the most effective approach to address market demand and competition both locally and regionally.
Defining a hospital-within-a-hospital strategic plan. Expand Minimize
Creating a pediatric heart center strategic plan and a pediatric cardiovascular service line structure. Expand Minimize
ECG assisted a freestanding children’s hospital in conducting an analysis of its current cardiovascular programs and services, market share, competition, and finances. Through this analysis, we were able to identify the hospital’s critical strengths, weaknesses, opportunities, and threats regarding cardiac services. Our guidance resulted in the creation of a pediatric cardiovascular service line and a service-specific strategic plan that encompassed hospital and physician services, as well as clinical and academic programs.
