New group compensation functionality added for growing Provider Performance Management Technology™ platform
MINNEAPOLIS, July 26, 2022 /PRNewswire/ — Clinician Nexus, a clinical workforce technology company, announced enhancements to its innovative Provider Performance Management Technology™ (PPMT™) that allow for unique insight into the composition of physician pay arrangements within academic practice settings. PPMT is a comprehensive physician compensation software solution that engages the clinical workforce and informs leaders through transparent performance-based compensation administration, reporting, and analytical capabilities.
PPMT currently allows organizations utilizing group compensation models to automate the aggregation of the group’s total earned compensation and then distribute pay to physicians based on client-defined rules such as full-time equivalent status, individual contributions, and other factors. Building on this existing functionality, PPMT now permits authorized stakeholders such as Department Chairs and Division Leaders to adjust recommended pay distribution under a specified set of parameters. This provides physician leaders in academic medical centers with added flexibility to help better support the tripartite mission of education, research, and high-quality patient care while also rewarding physicians based on special circumstances.
“These critical enhancements help to streamline decision-making and provide greater flexibility within an automated system to easily implement necessary adjustments each pay cycle. More importantly, it improves transparency and reinforces the unique mission of academic medical centers – where managing departmental compensation can be highly complex – through an improved review and approval process across multiple leadership levels,” said Jason Tackett, a managing principal in SullivanCotter’s Physician Workforce Practice. SullivanCotter is a leading independent consulting firm in the assessment and development of total rewards programs, workforce solutions, and data products for the health care industry and not-for-profit sector.
PPMT helps health care organizations to improve and engage their physician and advanced practice provider workforce through a greater understanding of overall departmental compensation while also combining this with detailed analysis and reporting at the individual provider level.
“With customizable solutions designed to support each stage of the clinical workforce lifecycle – from planning and training to measuring, rewarding, and driving performance – Clinician Nexus is focused on helping clients to deliver best-in-class patient care. PPMT is a critical piece of the puzzle as organizations look to align provider compensation with performance and drive meaningful results, and we continue to make vital system improvements in order to help clients achieve these goals,” said David Schwietz, chief information officer, Clinician Nexus.
For more information on these enhancements or our entire suite of Provider Performance Management Technology, visit www.cliniciannexus.com or contact us at 888.254.3503.
Clinician Nexus enables health care organizations to build thriving clinician teams with industry-leading technology products, workforce and compensation analytics, and automated workflow solutions. Backed by extensive technical expertise and industry-leading data, we deliver innovative approaches to help clients to plan, educate, and engage their clinical workforce at every stage of the lifecycle. We are committed to providing our clients with outstanding guidance and support as they focus on shaping the future of health care.
Contact: Becky Lorentz
SOURCE Clinician Nexus