Director of Compensation and Clinical Revenue (Hybrid Remote)

Discover Vanderbilt University Medical Center:  Located in Nashville, Tennessee, and operating at a global crossroads of teaching, discovery, and patient care, VUMC is a community of diverse individuals who come to work each day with the simple aim of changing the world. It is a place where your expertise will be valued, your knowledge expanded, and your abilities challenged. Vanderbilt Health recognizes that diversity is essential for excellence and innovation. We are committed to an inclusive environment where everyone has the chance to thrive and where your diversity of culture, thinking, learning, and leading is sought and celebrated. It is a place where employees know they are part of something that is bigger than themselves, take exceptional pride in their work and never settle for what was good enough yesterday. Vanderbilt’s mission is to advance health and wellness through preeminent programs in patient care, education, and research.

Organization:

Medicine Administration

Job Summary:

The Director of Compensation and Clinical Revenue is responsible for the strategic oversight and administration of the compensation plan, ensuring its effectiveness in recruiting and retaining faculty while optimizing clinical and academic activities. The Director will also be responsible to understand, educate and optimize clinical revenue across the department. The Director will serve as a key Leader for the Department of Medicine and will prepare and deliver clear, concise, and timely reports and presentations to key stakeholders.
This role will involve collaboration and effective communication with the Chair of Medicine, Chief Business Officer, Executive Vice Chair for Clinical Affairs, Associate Director of Business Services, Division Directors, Division Administrators, and other department leaders to drive financial performance and operational excellence.

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Key Responsibilities:

• Compensation Plan Administration:

  • Oversee the administrative functions of the compensation plan, including market surveys and trend analysis.

  • In conjunction with physician leadership, help lead the compensation committee to ensure alignment with recruitment and retention goals.

  • Verify and manage compensation data, addressing inquiries related to the compensation plan.

  • Oversee management of the compensation workbook, including:

    • Monthly RVU loading and verification.

    • Monthly updates to faculty lists, ensuring accurate salary, distribution, and job code entries.

    • Manage monthly salary accruals for all providers, including faculty and staff.

    • Coordinate Quarterly Productivity Adjustments (QPAs), Semi-Annual Research Bonuses, and Patient Satisfaction metrics.

    • Implement and oversee the Annual Quality Incentive program.

    • Generate annual salary letters for all faculty and staff Advanced Practice Providers (APPs).

    • Conduct periodic comparisons to national compensation benchmarks to ensure competitiveness.

  • Educate internal and external stakeholders regarding how the plan works

  • Oversee the development, implementation, and results of the departmental leadership incentive plan

  • Coordinate with institutional stakeholders who pay for Executive Incentives, Directorships, and other externally funded clinical activities to ensure that compensation is aligned with the DOM plan

  • Work with Division Directors and Division Administrators to ensure that faculty who work at the VA are appropriately compensated

• Clinical Revenue Oversight:

  • Develop and implement reports and processes to ensure that leadership understands and optimizes clinical activities

    • Monitor clinical revenue through monthly reviews of actual versus budgeted figures.

    • Evaluate current and proposed clinic operations, providing recommendations for improvement.

    • Review and approve faculty offer letters and proformas.

    • Oversee Key Statistics meetings to ensure data-driven decision-making.

    • Manage allocation reports, making updates as necessary and distributing to divisions on a monthly basis.

    • Oversee monthly salary variances to identify trends and areas for adjustment.

    • Work with Division Administrators as clinical contracts are developed or renewed to ensure that contractee is aligned with departmental and institutional interests.

• Budget Management:

  • Collaborate with the Department of Medicine Associate Director for Business Services and other Financial Leaders to oversee departmental budgets and forecasts, with a