Director, Physician Compensation

Sanford Health - Sioux Falls, SD

Part-time - Senior

Sioux Falls, SD

10,001+ employees

Hospitals

About the position

The Director of Physician Compensation at Sanford Health is a pivotal role that provides system-wide direction and management for the compensation and payroll functions of physicians and advanced practice providers. This position is responsible for developing, maintaining, and producing comprehensive provider compensation plans and processes that align with the organization's goals. The Director will assist in achieving standardization across enterprise clinics and oversee the physician compensation system, ensuring timely and accurate financial information for both internal management and external reporting. In this role, the Director will design, develop, research, and communicate compensation plans and benefits for physicians and advanced practice providers, aiming for consistency across all regions. The position also involves mentoring and educating Sanford Health leaders and providers on compensation and payroll policies, procedures, reports, and regulatory requirements. The Director will assess market trends and plan designs to support the administration of physician compensation, leading the development and implementation of incentive plans for advanced practice providers. Additionally, the Director will oversee the annual market review and operating budget process for physician and advanced practice provider compensation and benefits. This includes identifying information systems needs for compensation and payroll functions, participating in the selection of applications, and directing their implementation and management. The role requires monitoring payroll regulations for changes that may impact processes, procedures, or reporting requirements, and assisting in standardizing financial tracking and reporting across regions while meeting operational needs. The Director must possess a strategic mindset, with the ability to design, implement, and evaluate compensation programs, policies, and processes within the organization.

Responsibilities

• Provide system-wide direction and management to physician and advanced practice provider compensation and payroll functions.
• Develop, maintain, and produce provider compensation plans and processes.
• Assist in achieving enterprise clinic standardization and initiatives.
• Oversee the enterprise physician compensation system for accurate financial reporting.
• Design, develop, research, and communicate compensation plans and benefits for standardization across regions.
• Mentor and educate Sanford Health leaders and providers on compensation and payroll policies and procedures.
• Assess market trends and plan design to support physician compensation administration.
• Lead the development and implementation of advanced practice provider incentive plans.
• Oversee the annual market review and operating budget process for compensation and benefits.
• Identify information systems needs for compensation and payroll functions and manage their implementation.
• Monitor payroll regulations for changes impacting processes and reporting requirements.
• Assist in standardizing financial tracking and reporting across regions.

Requirements

• Bachelor's degree in accounting, finance, business, or healthcare administration required.
• Master's degree preferred but not required.
• Minimum of five years' experience in health care accounting, physician compensation, or financial management.
• Three years of leadership/management experience required.
• Knowledge of health care industry accounting principles, practices, and related laws and regulations.

Benefits

• Health insurance
• Dental insurance
• Vision insurance
• Life insurance
• 401(k) retirement plan
• Work/life balance benefits
• Generous time off package