An academic medical center with a large cardiology service line sought a more consistent and efficient approach to managing a mix of simple and complex provider compensation arrangements.
Situation
With a growing number of cardiology providers, the organization faced challenges in maintaining consistent fair market value (FMV) documentation and compliance across the service line. Some compensation arrangements were straightforward, while others required nuanced evaluation due to unique responsibilities or market dynamics. Leadership was seeking a streamlined process that could reduce the administrative burden while still ensuring regulatory alignment. The goal was to establish a scalable, specialty-specific FMV strategy that balanced automation with expert oversight.
Solution
VMG Health assessed all cardiology compensation arrangements and proposed a tailored service line package leveraging FMV-MD®, a technology platform designed to automate FMV opinions. The platform efficiently generated instant FMV support for standard arrangements, while more complex, highly compensated provider scenarios were identified for further review. VMG Health’s valuation experts provided additional due diligence on these cases at a discounted rate, ensuring each arrangement received the appropriate level of attention without exceeding budget.
Success
As a result of the new FMV workflow, the academic medical center now has complete FMV documentation across its cardiology service line. The implementation of FMV-MD allowed the organization to increase efficiency, improve compliance consistency, and significantly reduce valuation costs. VMG Health’s blended solution of automation and expert review delivered an estimated $34,000 in savings, while positioning the center for ongoing success in managing specialty compensation programs.
Contributor:
Mary Beth Riley
