Deficiencies in Fair Market Value Surveys
The evolution of our value proposition for our clients today is centered on facilitating the physician call committees and working through the burden of call scoring process. What the BOCS recognizes and places a priority on is the relative value of the burden of call that is unique to an individual hospital and medical staff.
We find that commercially available FMV surveys are inadequate in terms of the application of Fair Market Value to a specific hospital. Additionally, FMV survey data does not directly recognize the issue of “call burden” which is the core issue involved in call compensation.
The BOCS creates the opportunity to group specialties in proximity of their burden and justifies distributing a hospital’s budget in a way that reflects FMV but is not totally dependent on commercially available FMV data. The result of our methodology is a more truly “fair” compensation structure that is inclusive and representative of the unique needs and call compensation budget of each of our clients.
It is my hope, and the mission of MaxWorth Consulting, to create a broad-based awareness that a real alternative does exist that will achieve alignment between the hospital’s need for consistent and reliable emergency department call coverage and the physicians interest in being fairly recognized for this vital community service. However, it is important to note, as our friend Dan Mulholland says…no hospital should “try this at home without close adult supervision”.
If you have any questions or would like to discuss this topic further please contact us by email at [email protected] and we will notify the post author of your request.