Director of Physician Compensation NEW

Penn Medicine - Bala Cynwyd, PA

Full-time - Director

Bala Cynwyd, PA

Ambulatory Health Care Services

About the position

The Director of Physician Compensation at Penn Medicine is responsible for leading a team that develops and manages compensation plans for physicians across the Penn Medicine Medical Group Regional Practices. This role involves strategic planning, consultation, and collaboration with various departments to ensure fair and competitive compensation aligned with best practices and organizational goals.

Responsibilities

• Create a plan for strategic review and development of compensation plans using best practice methodologies.
• Direct the development and maintenance of all physician compensation and employment contracts.
• Maintain a central database of all compensation models and plan documents.
• Act as a consultant and liaison with compensation committees and external consulting firms.
• Evaluate and recommend salaries for role changes or FTE adjustments.
• Research and analyze physician group market data and select appropriate benchmarks.
• Standardize the Fair Market Value (FMV) process with the compensation function.
• Provide consultation to Senior Management on market data for physicians.

Requirements

• Bachelor of Arts or Science in a related field such as Compensation, Human Resources, Accounting, or Business Administration.
• 5+ years of healthcare compensation experience, ideally within provider compensation.

Nice-to-haves

• Certified Compensation Professional
• Experience with productivity and incentive compensation models.
• Medical coding experience.
• Knowledge of hospital billing systems.

Benefits

• Comprehensive compensation and benefits program including prepaid tuition assistance.