Compensation Modeling and Strategies
One of the most important issues facing any medical practice is how to allocate the profits it generates. In designing an appropriate compensation system for your practice, you need to balance the need for fairness to all of the doctors with the complexity of the system. These goals can often be in conflict with each other. Further, in today’s rapidly changing world of medical economics, a system that worked in previous years may not make sense today.
At ORBA, we have been working with medical groups in designing their compensation systems for more than 35 years. While the ultimate design of the system is, of course, up to the doctors in the group, we develop models that will show the effects of various proposed systems. Based on our experience, we then advise you of systems that are the most successful in various practice scenarios. This allows you to choose a system that provides the fairest compensation methodology for your medical team.
- Health Care
- Accounting Systems & Financial Reporting Review
- Buy/Sell Analysis and Due Diligence
- Employee Benefit Plans
- Fair Market Value Analysis
- Internal Control Evaluations
- Long-Term Care – Skilled Nursing and Assisted Living Facilities
- Personal Financial/Retirement Planning
- Practice Valuations