Senior Director - Provider Compensation

Job Description

Education Qualifications:

• Bachelor’s Degree in Finance, Business or related field
• Master’s or CPA preferred
  
  

Years of experience required:

• 8-12 years healthcare experience, including leading and developing provider comp models aligned with organizational strategic initiatives

Licensure/Certification Qualifications:

N/A

Job Summary:

The Senior Director of Provider Compensation is responsible for providing strategic leadership to support Essentia’s mission. This role will shape the vision for physician and APP compensation for Essentia, ensuring a strategic design that fits Essentia’s mission and values with the goal of achieving best practice in the near-term future state. The Senior director will report to the SVP, Financial Operations and be accountable for leading and developing a team responsible for administering all provider compensation programs at Essentia Health. This position also supports the Essentia Physician and Provider Compensation Committee (EPPC) working closely with the EPPC Chair and Provider Workgroup members, this position will develop, implement, and administer provider compensation strategies, models, and programs. The Sr. Director will develop compensation plans and incentives, direct the preparation of compensation models, document fair market value and commercial reasonableness, administer provider contracts and associated reporting, create and maintain policies and best practices, and monitor industry trends involving provider compensation. Additionally, this person will ensure provider compensation models and practices are effective, well understood, compliant with applicable state and federal laws and regulations, and aligned with Essentia's provider compensation philosophy and with strategic objectives.

The Sr. Director of Provider Compensation is a significant leadership role within Essentia and requires proven experience and success in leading the development of “best practice” provider compensation standards and managing the compensation review process across multiple geographies throughout the organization. The Sr. Director will have accountability for system oversight of provider compensation plans and will require an understanding of the National Labor Relations Board and Union negotiations. Additional responsibilities include planning, development, and implementation of specific pay practices to ensure legal compliance with company policies, state, and federal regulations. The Sr. Director will need to demonstrate the ability to inform and influence market leadership by developing and nurturing strong relationships with Essentia physicians, APPs, and Executives to drive successful execution of key strategies.

Primary Accountabilities:
• Leading strategic design of provider compensation models that aligns incentives to support organizational performance
• Developing, implementing, and administering provider compensation strategies, models and programs
• Developing communication strategy and making presentations on provider compensation to Board, Provider Leadership, EPPC, and executive leadership. Communicating with and educating providers on various compensation plans and models, including proposed changes. Providing guidance and support to providers on compensation and performance related issues.
• Responsible for the development of the annual operating budget for provider compensation for all employed providers by individual provider at the detailed compensation level
• Supports the EPPC by organizing meeting agendas in collaboration with Chair, providing research, guidance, insights, analysis and recommendations to the Committee.
• Participates in the development of FMV compensation, and reasonableness testing and FMV variation
• Creating policies and procedures that support solid compensation philosophies and are in alignment with organizational needs and industry best practices
• Monitoring industry trends
• Establishing solid audit processes
• Ensuring models are effective and understandable as well as compliant with federal and state regulations
• Designing plans to support the organization’s ability to attract, reward and retain top talent
• Providing analysis and support to compensation committee and other stakeholders
• Developing and leading strategic initiatives and committees
• Communicating strategies and initiatives
• Developing provider dashboards and educational material providing insight into individual compensation models and metrics as well as productivity reporting
• Administering contracts and reporting results
• Critical thinking and analytical skills
• Highly proficient in Microsoft Excel and financial systems
• Strong verbal and written communication as well as presentation skills
• Strong interpersonal skills
• Able to lead and influence the work of others
• Exhibits a wide degree of creativity and latitude
• Maturity to tolerate pressure
• Strong understanding of Stark, Anti-Kickback Statutes, FMV and benchmarking concepts
• Familiarity of tax laws, equal employment opportunity laws and pay equity regulations

Leadership Expectations
• Strong commitment to the Mission and Values of Essentia Health.
• Proven capability to build a cohesive, high-functioning team across the network working in partnership with other organizations.
• Responsible for the development of staff to create leadership and skillsets necessary to take on roles of increased accountability.
• Lead transformation through effective change management and communication strategies utilizing key stakeholder input, educational and training materials and presentations.
• Build and maintain relationships with key stakeholders to understand their requirements for financial data and analysis
• Develop clear, insightful presentations to system, market, and provider leaders based on financial and clinical information addressing strategic impacts and supporting special projects