Using Organizational Philosophy to Create a Self-Sustaining Compensation Plan Without Harming Academic Missions.

Using Organizational Philosophy to Create a Self-Sustaining Compensation Plan Without Harming Academic Missions.

Acad Med. 2017 Aug;92(8):1133-1137

Authors: Leverence R, Nuttall R, Palmer R, Segal M, Wood A, Yancey F, Shuster J, Brantly M, Hromas R

Abstract
PROBLEM: Academic physician reimbursement has moved to productivity-based compensation plans. To be sustainable, such plans must be self-funding. Additionally, unless research and education are appropriately valued, faculty involved in these efforts will become disillusioned, yet revenue generation in these activities is less robust than for clinical care activities.
APPROACH: Faculty at the Department of Medicine, University of Florida Health, elected a committee of junior and senior faculty and division chiefs to restructure the compensation plan in fiscal year (FY) 2011. This committee was charged with designing a new compensation plan based on seven principles of organizational philosophy: equity, compensation coupled to productivity, authority aligned with responsibility, respect for all academic missions, transparency, professionalism, and self-funding in each academic mission.
OUTCOMES: The new compensation plan was implemented in FY2013. A survey administered at the end of FY2015 showed that 61% (76/125) of faculty were more satisfied with this plan than the previous plan. Since the year before implementation, clinical relative value units per faculty increased 7% (from 3,458 in FY2012 to 3,704 in FY2015, P < .002), incentives paid per faculty increased 250% (from $3,191 in FY2012 to $11,153 in FY2015, P ≤ .001), and publications per faculty increased 15% (from 2.6 in FY2012 to 3.0 in FY2015, P < .001). Grant submissions, external funding, and teaching hours also increased per faculty but did not reach statistical significance.
NEXT STEPS: An important next step will be to incorporate quality metrics into the compensation plan, without affecting costs or throughput.

PMID: 28746136 [PubMed - in process]

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