Advanced practice providers (APPs) are an important part of the care team, and an essential part of any comprehensive provider compensation program is an APP compensation design plan that engages and motivates your nurse practitioners and physician assistants to provide high-quality care to an organization’s patients.
For some APPs, particularly those in the primary care setting, that could mean a compensation plan that closely aligns with your employed physician compensation plan for primary care physicians, which may reward physicians and APPs for productivity (wRVUs or professional collections), panel size and panel management, patient satisfaction, clinical quality outcomes, or other performance-based incentive metrics important to the organization.
For other APPs, that could mean a salaried compensation model that rewards years of service or experience, with some additional incentives for productivity, quality outcomes, patient satisfaction, or other performance-metrics that align with the incentives in your employed physician compensation plans so both your physicians and APPs are aligned in focusing on these metrics.
When you engage VMG Health on an APP compensation design project, VMG will work with your organization’s leadership to understand the benefits and drawbacks of the current APP compensation plan, the organization’s current physician compensation plan, and the organization’s vision for a new compensation plan. Then, VMG will work with your organization to design conceptual models that align with your organization’s vision, and with your organization’s leadership to develop an effective communication and implementation strategy that will ensure a seamless transition to the new compensation plan.