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Compensation Consultant

Job ID: 213502
Category: Human Resources
Work Type: FT
Location: Bala Cynwyd, PA, United States
Work Schedule: Per Departmental Needs

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Description

Penn Medicine is dedicated to our tripartite mission of providing the highest level of care to patients, conducting innovative research, and educating future leaders in the field of medicine. Working for this leading academic medical center means collaboration with top clinical, technical and business professionals across all disciplines.

Today at Penn Medicine, someone will make a breakthrough. Someone will heal a heart, deliver hopeful news, and give comfort and reassurance. Our employees shape our future each day. Are you living your life's work?

Entity: (CCA) /Penn Primary Care (PPC) and Penn Specialty Practices (PSP) 

Department: Regional Physician Admin

Location: 150 Monument Road

Hours: Per Departmental Needs

Mainly remote with some travel

Job Summary:

Responsible for researching, developing, modeling, recommending and maintaining the compensation for physicians and Advanced Practice Providers across Penn Medicine Medical Group (PMMG) Regional Practices. This position will utilize and research compensation surveys and best practice compensation strategies and methods to determine fair market salaries. Productivity measures, by practice, will be collected, reported and used to calculate variable pay. Responsible for providing consultation to Physician Leadership, Senior Management and Physician Recruitment on salary offers and compensation matters. This position reports to the Senior Director of Physician and Advanced Practice Recruitment and partners with Finance, Operational leaders, HR and Corporate Compensation to align compensation plans and strategies.

Accountabilities:

• Establish base and total cash compensation levels utilizing best practice compensation methodology and adhering to the PMMG Regional Practices Compensation Philosophy. Work closely and consult with the Physician and APP Recruiters to provide guidance on salary offers and compensation plans for new hires.

 • Utilize and participate in recognized physician compensation surveys, including but not limited to Sullivan-Cotter, MGMA, Hay, Clark’s, and HCS. 

• Design, model, and recommend compensation strategies and models for general and specialty physicians. Analyze compensation and productivity data and history to ensure validity of data for integrity. 

• Provide consultation to Senior Management on market data for physicians and ensure PMMG is adhering to Safe Harbor guidelines and fair market value.

• Develop reference and communication materials that provide clear understanding of the Physician compensation programs.

 • Research and analyze physician group market data and select appropriate benchmarks comparable to PMMG Regional Practices, including geographic and specialty-specific differences.

 • Maintain responsibility for job evaluation process, consulting with managers who are creating or revising positions to develop job descriptions that meet internal standards and that reflect essential functions and minimum requirements; reviewing job descriptions for content and may request revisions by management to clarify or enhance the quality and consistency of descriptions.

 • Responsible for creating and maintaining the physician and advanced practice provider professional job descriptions ensuring they comply with Penn Medicine standards and programs, where appropriate.

• Work closely with key customers in the development of new or alternative pay programs, aligning those programs to retention and recruitment priorities. 

• Serve as a professional resource and provide consultative services and guidance around policy and systems to management; provide training on compensation related programs such as performance review, merit pay and incentive systems, wage and hour training and other related topics. 

• Maintain central database of all of the compensation models and plan documents. • Work and advise Physician leadership as to the development, measurement, and calculations of quality, productivity, and other various incentives. 

• Act as a liaison with external consulting firms related to compensation consultation and market data. 

• Ensure guidelines as established under the Physician Compensation Program Plan Document are followed. Responsible for maintenance and revisions of Plan Documents, as necessary.

 • Respond to inquiries, as necessary, involving the interpretation and applicability to circumstances noted in any of the guidelines in the Program. 

• Maintain reference materials and database of employee information for use by Physician Recruitment. 

• Evaluate and recommend salary changes for employee promotion or demotion or FTE change and the hiring rate for experienced outside candidates. Liaise with key stakeholders to ensure contract addendums reflect any changes. 

• Performs duties in accordance with Penn Medicine and entity values, policies, and procedures 

• Other duties as assigned to support the unit, department, entity, and health system organization

Education/Experience:

Required - Bachelor's Degree in Compensation, Human Resources, Accounting, Business Administration, or related healthcare field And 7+ years experience in healthcare compensation or an HR related field, ideally within provider compensation (physician and advanced practice providers) 

Preferred- Experience with incentive compensation models and professional billing and charges

We believe that the best care for our patients starts with the best care for our employees. Our employee benefits programs help our employees get healthy and stay healthy. We offer a comprehensive compensation and benefits program that includes one of the finest prepaid tuition assistance programs in the region. Penn Medicine employees are actively engaged and committed to our mission. Together we will continue to make medical advances that help people live longer, healthier lives.

Live Your Life's Work

We are an Equal Opportunity and Affirmative Action employer. Candidates are considered for employment without regard to race, ethnicity, color, sex, sexual orientation, gender identity, religion, national origin, ancestry, age, disability, marital status, familial status, genetic information, domestic or sexual violence victim status, citizenship status, military status, status as a protected veteran or any other status protected by applicable law.

   Current UPHS employees must apply HERE
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