Centra Health - Lynchburg, VA
posted about 2 months ago
The Provider Compensation Analyst plays a crucial role in ensuring that Centra Medical Group remains competitive and equitable in its compensation practices for healthcare providers. This position involves conducting extensive data mining related to both national and local compensation trends, which is essential for developing compensation models that align with the organization's business needs. The analyst will be responsible for analyzing and interpreting market data to build and maintain these models, which are vital for recruiting and retaining top provider talent. The role requires minimal oversight, allowing the analyst to work independently while still collaborating with various stakeholders within the organization. In addition to data analysis, the Provider Compensation Analyst will implement compensation plans for new hires in collaboration with the Director of Provider Compensation. This includes developing term sheets for physicians and Advanced Practice Providers (APPs) and providing consultation services regarding compensation arrangements. The analyst will also be tasked with creating multiple compensation projection models for individual providers, conducting sensitivity analyses, and ensuring that all compensation arrangements are commercially reasonable and compliant with Fair Market Value standards. The position requires strong communication skills, as the analyst will present compensation arrangements and offers in weekly committee meetings with senior leaders. Maintaining accurate electronic records of compensation models and methodologies is also a key responsibility. The analyst will assist in quality reviews of provider term sheets and contracts, ensuring that benchmarking data is continuously updated for accuracy and relevance. Collaboration with finance, legal, compliance, and other departments is essential for integrating and disseminating information related to provider compensation. Additionally, the analyst will oversee the collection and submission of market survey data, contributing to process improvement initiatives aimed at enhancing departmental efficiency.