The Economics of Healthcare: Understanding Physician Compensation

Thursday, May 12, 2022

8:00 AM – 5:00 PM

Location: Room 353

Learning Objectives:

Explain the general economics of healthcare, specifically how dollars flow from governmental and non-governmental payers directly and indirectly (through health systems) and then directly and indirectly to physician compensation.
Summarize the basic differences, advantages, and disadvantages of various practice models including private group practice, academic and non-academic employed, and private equity funded.
Determine how physicians can influence their own compensation within each practice model.
Distinguish important aspects of employment agreements and discern what, when, and how to negotiate.
Identify how to increase an individual’s influence within a group or employer by demonstrating value added and how to address general resource issues that affect productivity (e.g. advanced practitioners, centrally employed staff and equipment).

Following a general introduction to the economics of clinical practice and various practice models (e.g. private group practice, academic and non-academic health system employment, and private equity funded), the specifics of various compensation arrangements, bonuses, benefits and other aspects of total compensation will be reviewed in detail. Indirect aspects of compensation models including topics such as funding and use of advanced practitioners in a practice, and expense structures will also be discussed. Breakout sessions will allow individualized discussions appropriate to practice setting (Academic, Health System Employed, Independent Group Practice).

The target audience includes residents, fellows, young urologists and established physicians considering future employment opportunities. This course may also be of interest to Advanced Practice Providers and physician/non-physician managers of urologic practices.

Presentations:

8:00 AM – 8:30 AM

Registration
8:30 AM – 8:40 AM

Welcome & Introduction of the AUA Institute for Leadership & Business
Course Director: John D. McConnell, MD – Wake Forest Unv Baptist Med Ctr
8:40 AM – 9:15 AM

General Healthcare Economics That Affect Physician Compensation
Course Director: John D. McConnell, MD – Wake Forest Unv Baptist Med Ctr
9:15 AM – 10:05 AM

Complexity of RVU-Based Compensation: The Good, The Bad, The Ugly
Faculty: Mark Painter, CEO, BA – PRS Consulting LLC
10:20 AM – 11:10 AM

Understanding Overhead Costs and the Impact of Practice Efficiency
Faculty: Twila J. Puritty, MBA – Wichita Urology Group
11:10 AM – 12:00 PM

Round Table Discussion: Case discussions/exercises (Academic, Health System Employed, Independent Group Practice)
12:00 PM – 1:30 PM

Lunch Break
1:30 PM – 2:15 PM

Strategies for Seeking Employment and Negotiating Compensation
Faculty: Brad Douglas Lerner, MD
2:15 PM – 2:45 PM

Critical Aspects of Employment Agreements Beyond Compensation
Faculty: Jennifer Ulanda Miles-Thomas, MD – Urology of Virginia
3:00 PM – 3:30 PM

Legal Aspects of Employment and Contractual Agreements
Faculty: Johnjerica Hodge – Katten Muchin Rosenman
3:30 PM – 4:15 PM

Know Your Value
Course Director: Kenneth A. Berger, MD,JD – Tri-State Memorial Hospital
4:15 PM – 5:00 PM

Round Table Discussion: Practice Setting Application (Academic, Health System Employed, Independent Group Practice)
5:00 PM

Wrap-up/Course Adjourns
Course Director: John D. McConnell, MD – Wake Forest Unv Baptist Med Ctr
Course Director: Kenneth A. Berger, MD,JD – Tri-State Memorial Hospital