Director of Physician Compensation

Penn Medicine - Bala Cynwyd, PA

Full-time - Director

Bala Cynwyd, PA

1,001-5,000 employees

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 stakeholders to ensure fair and competitive compensation structures that align with organizational goals and best practices in the healthcare industry.

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.
• Ensure guidelines under the Physician Compensation Program Plan Document are followed.
• Evaluate and recommend salaries for role changes or FTE adjustments.
• Research and analyze physician group market data and select appropriate benchmarks.
• Help standardize the Fair Market Value (FMV) process with the compensation function.
• Provide consultation to Senior Management on market data for physicians.
• Work with designated legal and Provider Services teams to ensure contracts reflect updates.

Requirements

• Bachelor's degree in a related field such as Compensation, Human Resources, Accounting, or Business Administration.
• 5+ years of healthcare compensation experience, ideally within provider compensation.
• Experience with productivity and incentive compensation models, external benchmarking, and professional fee reimbursement.
• Certified Compensation Professional preferred.
• Excellent analytical and written and verbal communication skills.
• Attention to detail, accuracy, and urgency in meeting deadlines.

Nice-to-haves

• Medical coding experience.
• Knowledge of hospital billing systems.

Benefits

• Tuition reimbursement
• Comprehensive compensation and benefits program