Overview

The VP of Provider Compensation role will have overall responsibility for the development, implementation and administration of Provider compensation programs. He (she) will be responsible for ensuring the accuracy of all data collection, analysis and reporting functions required to support the Physician and Advanced Provider compensation plans.

Millennium Physician Group is searching for an individual with excellent written and communication skills; who is confident and articulate when meeting with Providers to explain compensation programs and responding to inquiries from Providers. He (she) will perform other related accounting, financial and administrative functions as required by the department.

Essential Key Job Responsibilities include the following. Other duties may be assigned.

• Assist with the development, implementation and administration of Provider compensation models.
• Ensure physician / advanced practice provider compensation models and practices are effective, well understood, and compliant with applicable state and federal laws and regulations, and aligned with Millennium's physician / advanced practice provider compensation philosophy and with strategic objectives.
• Ensure success of the physician compensation strategy through effective recruitment, selection, management, retention and development of the Provider Compensation Team (PCT).
• Foster a collaborative team-based environment that brings together multiple disciplines in pursuit of continuous improvement and employee engagement.
• Review the accuracy of all internal reports prepared by the PCT that are used to analyze and create Provider compensation reports
• Lead the development and enhancement of key performance indicators and other metrics to be able to assess the reasonableness of Provider compensation expense on a monthly and YTD basis versus budget and prior year amounts.
• Coordinate the implementation of Heisenberg II Provider Compensation Platform (in process).
• Meet with providers to discuss and review the compensation programs/reports and answer any inquiries.
• Enhance the process of reviewing compensation reports with Providers under guarantee to ensure a smooth transition to the production compensation plans.
• Identifies opportunities to create efficiencies in accounting and reporting associated with Physician and Advanced Provider compensation plans.
• Oversee the reconciliation of compensation-related general ledger accounts to maintain accuracy.
• Oversee the review of journal entries associated with compensation activity.
• Document and implement accounting controls by analyzing current controls; and recommending and implementing changes thereto.
• Oversee the annual financial audit as it relates to Provider compensation expense and accruals.
• Assist the Treasurer in presentations with the Physician Executive Council, Physician Executive Committee, Provider POD meetings, Advanced Providers and Specialist Providers, and internal constituents concerning Provider compensation matters.
• Perform other related accounting, financial, or administrative special projects and tasks as may be required from time to time by the Treasurer or Chief Financial Officer.

Qualifications

Required Education and Experience

• Bachelor's degree required: In Accounting or Finance; Master's degree (or an equivalent combination of education and/or additional job-related experience) is a preferred.
• Minimum of ten (10) years of provider compensation work experience that would demonstrate attainment of requisite job knowledge/abilities preferably within a large medical center, medical group, or complex health system, along with accounting and finance experience related to the physician practice industry.
• Minimum of seven (7) years related management/leadership experience.
• Strong accounting, financial analysis and reporting background.

Required Licensure and Certifications

None Specified

Supervisory Responsibilities

Directly supervises employees on the Provider Compensation Team. Carries out supervisory responsibilities in accordance with the organization's policies and applicable laws. Responsibilities include interviewing, hiring, and training employees; planning, assigning, and directing work; appraising performance; rewarding and disciplining employees; addressing complaints and resolving problems.