Assignment: Bangor Family Case
In order to ensure that a physician practice performs well financially and operationally one aspect that must be considered is the compensation methodology chosen to pay the physician. This methodology could be based on financial factors such as revenue or net income produced. Alternatively, the model could be based on productivity or quality/patient satisfaction of some combination of the above. This following assignment will involve you taking a closer look at these methodologies and determining which you believe is best among the choices given. Although there is not necessarily one correct answer, finding the methodology that fits best for the physicians is very important in ensuring best or desired performance by the physician.
Before beginning this assignment, please listen to the podcast below, provided by Dr. Budd.
Click the link below to listen to the podcast. To download the podcast, right-click on the link, click Save Link As..., and save it to your computer.
Bangor Family Case
Read the Bangor Family Case in your course pack, and view the following Productivity Data compiled by your instructor: (ATTACHED With Assignment)
Productivity Data (Productivity Data is also attached as an Excel Spreadsheet)
Then, prepare a case briefing in which you answer the following questions:
- Review physician compensation under each of the four compensation systems described above. Briefly describe to a colleague unfamiliar with these methods how each works.
- Identify the strengths and weaknesses of each model.
- Recommend the system that you believe is best for Bangor Family Physicians. In addition, discuss why managing a physician practice and maintaining the appropriate amount of productivity can be a significant challenge for any organization or group of individuals.
Your paper should not exceed 500 words.
All sources, including course materials, must be cited in text in APA style. Remember that course materials need not be included in your references page, but all other references must be.