Jeremy Goldberg is a Data Specialist at MD Ranger.
Tell me how you first got involved with MD Ranger.
I first heard about MD Ranger through the Claremont Colleges alumni network. While Allison and I didn’t actually go to the same school(her at Scripps, and me at Pitzer), I saw the job posting when I was a senior and applied. I actually got the job offer just a couple days before my graduation. It was the best graduation present I could have gotten.
What do you love about MD Ranger?
MD Ranger is a really close knit team. We are all constantly working together on a myriad of projects. I am allowed to wear many hats and help in many different areas. I can improve in many areas personally and help the company in many different ways.
What do you find most challenging about your work?
One of the hardest things is trying to keep coordinated with all the ongoing projects. Being a close team is great but it can also have its challenges.
In your opinion, what are some of the greatest challenges that healthcare organizations face when it comes to physician contracting?
One of the biggest challenges is knowing where to look for the right information. There is so much information out there and so many surveys it can sometimes be hard to know where to look. Having a single source of information and having solid procedures set up showing what to look for can really help ease this process.
What do you do in your spare time?
I do a lot of volunteer work in my free time and COVID has provided many opportunities. Most recently I was volunteering with the American Red Cross at a wildfire disaster shelter. At the beginning of the pandemic, I was helping at a Skilled Care Facility with COVID positive patients. I also volunteered as a navigator at a COVID testing site that had upwards of 20% positives in some weeks in August.
Before the pandemic, and hopefully after, I volunteer as a field medic at concerts and music festivals with Rock Medicine. I can’t wait to get back to live music. I also volunteer as the Junior Branch Advisor for the San Francisco Chapter of an international peace group, CISV. I got to led a delegation of 14 year olds to Germany in the Summer of 2019.
What might someone be surprised to know about you?
I broke my neck my senior year in college during a springboard diving incident. Luckily I didn’t need surgery and made a full recovery. And I set the school record my junior year so I still had a good diving career
We still don't know the full impact COVID will have on healthcare organizations in the long term or short term for that matter. We are hearing about 50 to 80 percent declines in patient volume in the short term and estimated annual declines of 15 to 20 percent depending on the specialty. However, I also think there will be long-lasting changes in how PSAs and a physician compensation are structured as a result of the crisis.
Given the dramatic drop in volume over the past three months, we may see continued shifts away from independent practice and PSAs with clauses to protect against circumstances out of the physician’s control. The impact on value-based payments models is yet to be seen. Although there may be pressure to move away from productivity-based payment and incentives, the financial pressure is being felt across the industry will make it difficult to significantly change the emphasis on productivity. I also think we will see a surge in physician retirements and mergers with larger groups.
Perhaps the most immediate and dramatic change is the integration and success of telemedicine. As physicians and patients have engaged in thousands of virtual visits, contracts and payment models have been evolving to respond. We expect to see a lot of analysis to set appropriate compensation and productivity standards as telehealth is more fully integrated into physician practices in reimbursement.
MD Ranger is delighted to announce the publication of Gallagher's sixth annual Physician Compensation and Production Survey.
WHAT’S NEW IN 2020
- Physician compensation and production data on 6 new specialties, including:
- Hematology/Oncology: Neuro
- Neurology: Neuromuscular
- Ophthalmology (Nonsurgical)
- Surgery: Plastic and Reconstruction (Oculo)
- Surgery: Transplant (Kidney)
- Surgery: Trauma (Burn)
Physician Specialties. The 2020 Physician Compensation and Production Survey represents data for 148 different physician specialties, up from 145 specialties in 2019.
Number of Physicians. Data was received on 68,470 physicians, up from 56,625 physicians in 2019 (a 21% increase from 2019).
Administrative Payments. Of the survey respondents who provided a breakout of total cash compensation by component, approximately 19.7% included a separate administrative component of cash compensation. Across all specialties, the average administrative payment was approximately 12.4% of total cash compensation for those who reported a separate administrative payment.
Advanced Practice Provider (“APP”) Supervision Payments. For the survey respondents who provided a breakout of total cash compensation by component, across all specialties the average APP supervision payment earned by physicians was approximately $9,827. It is important to note that this figure does not take into account the number of APPs supervised, or the method of payment (i.e., fixed stipend, payment per Work RVU, revenue less expense, etc.).
Call Coverage Payments. Of the survey respondents who provided a breakout of total cash compensation by component, approximately 12.9% included a separate call coverage component of cash compensation. Across all specialties, the average call coverage payment was approximately 7.8% of total cash compensation for those who reported a separate call coverage payment.
We've seen firsthand how fast a situation has evolved over the course of the pandemic. So, your organization and its leadership should be ready to respond quickly, decisively and of course effectively to whatever changes could head your way. That being said, a methodical and consistent approach to COVID-related arrangements is very important.
Consider the simplest policy or procedures to promote that consistency. Having the right resources at hand whether that be current market rate benchmarks or robust time reporting products, streamlined negotiations and monitoring. Everyone's situation is different so you need to evaluate what resources are needed to respond to the crisis and then, just keep reassessing to see if things are working for your organization. An official board-approved policy that enables management to act quickly and in the best interest of the community and organization can provide important structure and documentation for COVID-related contracts and amendments.
Other important ways to engage your board are frequent, regular reports to the board that itemize the organization's plans and actions. We also recommend creating a board and management task force to monitor actions taken under COVID and provide oversight. Leadership should consistently monitor the financial impact of COVID-related activities on the organization. And lastly, hospital leadership should be communicating very clearly defined expectations of board members and of management to respond to situations that arise as a result of the crisis.