Provider Compensation Analyst

Centra Health

Full-time

Hospitals

About the position

The Provider Compensation Analyst plays a crucial role in analyzing and managing compensation data for Centra Medical Group's providers. This position is responsible for ensuring competitive and equitable pay structures, conducting data analysis, and collaborating with various departments to support compensation strategies that attract and retain talent.

Responsibilities

• Collects, analyzes, and interprets market data to build and maintain compensation models for physicians and providers.
• Implements compensation plans for new hires in conjunction with the Director of Provider Compensation.
• Collaborates with team members and senior leaders to develop term sheets for physicians and Advanced Practice Providers (APPs).
• Consults on compensation arrangements and meets with physicians and APPs to discuss these arrangements.
• Creates multiple compensation projection models for individual providers, conducting sensitivity analyses and reviewing commercial reasonableness, FMV, and business risk considerations.
• Communicates and compiles data as requested by Fair Market Value appraisers/consultants.
• Presents compensation arrangements/offers in weekly committee meetings to senior leaders.
• Documents and maintains electronic records/files of physician compensation models detailing methodology and decisions.
• Assists with quality review for all provider term sheets and contracts.
• Updates term sheet benchmarking data continuously to ensure accuracy and usefulness.
• Collaborates with finance, legal, compliance, and other departments to collect and disseminate information relevant to provider compensation.
• Reviews and initiates process improvement projects for increased efficiency of the department.
• Oversees the collection and submission of market survey data for all providers.

Requirements

• Bachelor's Degree in Business, Business Administration, Economics, Accounting, Finance, or Statistics.
• At least three (3) years of experience in accounting, compensation, and/or analytics.
• Highly skilled in Excel with advanced functions.
• Demonstrates systematic and precise attention to detail and accuracy.
• Strong abilities in analysis and critical thinking, with effective communication of research and recommendations.

Nice-to-haves

• Completion of or active enrollment in a Master's Degree in Business Administration (MBA) or related Health Care Management Master's Degree.