Fundamentals of Physician Compensation
1 hour 30 minutes
Get assistance in clarifying and understanding fair market value standards when considering physician compensation.
Many hospitals and/or physicians do not fully understand the regulations that pertain to the Stark Law, Anti-Kickback Statute, or how important it is to understand compensation for a physician at a fair market value level. This topic will provide assistance in clarifying and understanding fair market value standards in considering physician compensation, how to structure physician compensation arrangements which are compliant with the Stark Law and Anti-Kickback Statute and the key factors in considering fair market value assessments in order to avoid violations resulting in potential penalties and fines. If financial arrangements are not fair market value or commercially reasonable severe fines and penalties can be imposed. If the government can prove that the parties intended to induce referrals through such financial arrangements then criminal sanctions, including imprisonment, can also be imposed.
• You will be able to define quality indicators that influence a fair market value when transitioning from volume to value.
• You will be able to describe the implementation of a fair market value process, how to apply benchmark data when considering physician compensation and when it is safe to exceed the benchmark data range.
• You will be able to identify the elements of a fair market value analysis and what services may not be considered commercially reasonable.
• You will be able to recognize if a fair market value assessment is commercially reasonable in relation to the proposed compensation arrangement.