Sr. Physician Compensation Analyst

The Physician Compensation Analyst, Sr. serves as a subject matter expert on provider compensation providing consultation to assigned department(s), analyzing compensation issues, and preparing alternatives and recommendations. Designs, recommends, and implements new or modifications to existing pay practices and structures to ensure market competitiveness, internal equity, and compliance with Fair Market Value regulations and compensation plan documents.

The Senior Provider Compensation Analyst consults, advises and assists practice management in providing leadership and direction by performing a combination of the following: compensation reporting / management; budget development, forecasting and auditing; management and auditing of funds flow between VCUHS, VCU and MCVP; alignment and data analysis with external benchmarks such as AAMC and Clinical Practice Resource Center. Provides oversight to ensure all technical aspects of the collection, analysis, and reporting of provider compensation-related data is accurate, audited, communicated, and produced in a timely manner.

The Senior Provider Compensation Analyst manages all aspects of the MCVP clinical recruitment to include: evaluating productivity metrics for all MCVP physicians and clinical providers, developing budget forecasts and evaluating staffing opportunities. Additionally, the Senior Provider Compensation Analyst manages all aspects of the pre-hire process for the MCVP clinical teams to include employment agreement review, offer letter alignment with MCVP, VCUHS and SOM guidelines and appropriate alignment with the designated HR and credentialing platforms for appropriate onboarding.

This team is fully remote, with the exception of a two-hour on-site meeting in Richmond, VA once a month. Candidates residing in the following authorized states may work remotely and join the monthly meeting virtually, or may choose to relocate to Virginia: VA, MD, TN, NC, FL, SC, TX, WV, GA, KY, AR, AL, KS, MI, MO, OH.

Operational:

Serves as a subject matter expert providing specialized provider compensation and provider productivity knowledge to Department Administrators and leadership.

Provides strategic guidance in the design and implementation of competitive compensation programs, policies and practices; Provides expertise on pay models to achieve alignment between practice revenues, quality, and expenses, as well as market competitiveness; Participates in and assists with the compensation plan review and approval process; Develops and presents complex provider compensation analysis based on established models and contracts;  Remains current on provider compensation trends used in updating compensation models; Leads in conducting compensation reviews as directed by MCVP and department leaders

Recommends resolutions to the Provider Compensation Steering Committee and offers guidance to Department Administrators, Providers, Department Chairs and Division Chiefs.

Leads the compensation team in developing, updating, and maintaining compensation policy, program, and procedure documentation.  Recommends compensation process improvements.

For staff development purposes, provides mentoring, project guidance, and training for Provider Compensation Analysts. 

Prepares and conducts training on physician compensation related matters to other Department Team Members, organizational Team Members and Leadership.

Prepares highly accurate monthly provider performance reports for faculty, divisions, and departmental leaders; Prepares cash illustrations/profiles as needed and for new faculty in the Comp Plan and annually thereafter; Prepares salary reconciliation documents to assist Payroll with retroactive pay adjustments and to communicate adjustments to providers; Reviews all provider payout requests generated by clinical departments to ensure compliance with previously approved compensation scenarios.

Leads process of generation and distribution of annual employment agreements.

Financial Management

Develops the MCVP budget for provider compensation; forecasts future trends; identifies productivity optimization opportunities.

Guides assigned departments in the development of the department’s compensation thresholds; models various options for pay practices & productivity.

Aligns provider productivity & funds flow reporting between department, SOM research teams, SOM educational teams and GME teams.

Validates all funds flow activities for assigned departments.  Establishes and monitors appropriate controls to ensure alignment with the budgeted funds flow.

Data Management and Analytics:

Leads the development and maintenance of systems and processes that support overall MCVP Administration, provider compensation plans and policies; Oversee