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New Comp Model

Learn About the New Compensation Model

Since the spring of 2023, the Physician Compensation Advisory Council (PCAC) worked with internal and external partners to create the new compensation model. In December, the Compensation Committee of the CentraCare Board approved the new model which will go live with guardrails on July 1st, 2024. From January 1st through June 30th, 2024, clinicians will be able to measure their current performance against the new model. Learn more below.

A New Compensation Plan for Clinical Partners Learn more about changes that will begin July 1, 2024 Railway track in the evening in sunset. Panoramic view on the railroad switch. Image chosen for the new compensation model for Clinical Partners
A Primer on Understanding Your Impact Statement Graphic image for the recorded webinar on reading a compensation impact statement
Your Questions Continuously Updated with Answers Image of FAQ for the new compensation plan for Clinical Partners
Live and Recorded Sessions to Understand Your Compensation Impact Statement Illustration of a calendar icon with the month of January

Background

Value-Based Care contracts are changing the healthcare industry and driving much of the change in the new compensation model. Click on the content below to learn from PCAC members Ben Haeg, MD, and Sean Wherry, MD, about how the new compensation plan addresses currently uncompensated work, embraces team-based care, and takes into account risk-adjusted panels for primary care physicians. You can also revisit the Clinician Compensation Forum, led by our compensation consultants at ECG in the fall of 2023, for a more background information.

NEW COMP MODEL Learn Key Drivers of the Comp Model Changes Graphic for an Interview Excerpt of STATIM Podcast EP1 on the New Compensation Plan
Illustrated graphic to promote the STATIM podcast episode on the New Comp Model
Watch Recorded TEAMs Meeting and Powerpoint Deck ALT2 graphic for the TEAMs presentation and powerpoint deck on the New Compensation Model