Deloitte Physician Compensation
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Deloitte Physician Compensation
The healthcare industry is facing aging populations, labor shortages, and increasing U.S. healthcare costs. These forces are simultaneously elevating the value of physicians while complicating compensation and retention strategies. The Deloitte Physician Compensation Application simplifies the complex process of determining physician compensation by bringing it seamlessly into Workday.
Through the app, compensation managers can create custom metrics-based formulas for calculating physician compensation. In addition, an optional feature can be implemented based on client-specific requirements. Using API calls or file uploads, this feature enables the app to pull data related to a specific physician, such as relative value units (RVUs) or other metrics from the electronic medical record (EMR) system or other outside sources and seamlessly integrate it with core Workday data.
Business Benefits
Healthcare leaders are seeking ways to attract and retain physicians and to streamline administrative processes. This Workday Extend app supports these objectives by eliminating the need to perform compensation calculations in spreadsheets and then input the results into Workday.
In summation, the Deloitte Physician Compensation Application enables healthcare administrators to save time, control costs, and produce better retention outcomes by allowing them to calculate physician compensation and track related metrics directly in Workday without using spreadsheets.
More specifically, it enables users with these capabilities
Add or remove compensation components for a physician
Calculate compensation based on logic
Provide physicians with a consolidated view of their compensation and the metrics used to calculate it
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