Analysis: Chief HR Executives Earn most in Healthcare
A recent study of human resource executives at S&P 500 companies shows healthcare and technology have the highest paid execs in HR, according to a recent Equilar report, which featured independent commentary from Allegis Partners. Among the Equilar 500, a sample of the largest U.S.-listed companies by revenue, median total direct compensation for HR executives increased from $1.6 million in 2015 to $1.7 million in 2016. The healthcare sector saw the largest increase in median total direct compensation from $1.9 million in 2015 to $2.2 million in 2016, which is the highest pay overall of all sectors. By comparison, tech executives saw an increase from $1.8 million in 2015 to $1.9 million in 2016, following healthcare as the next highest-paid HR leaders.
Revisiting Your Sexual Harassment Policy During the #MeToo Uprising
Unlawful sexual harassment, long a problem in the workplace, has become the most visible employment issue in corporate America. Victims of sexual harassment are emboldened to speak up, as they should. In turn—and in remarkable numbers—business leaders in many industries are being called out for alleged bad behavior and forced to step down. The resulting emotional turmoil, business disruption, and injury to personal reputations are causing significant damage to businesses, internally and externally, and to many individuals involved. What should concerned businesses be doing? Consider the following action steps: Review the existing anti-harassment policy and audit the effectiveness of complaint reporting; Identify vulnerabilities by harnessing complaint data, both historical and current; Consider conducting an anonymous employee survey to determine whether unreported and still-festering harassment issues pose continuing legal risks; Make necessary or desired adjustments not only to the company's existing anti-harassment policy and complaint-reporting procedures; and Schedule and spend time on leadership "buy-in" before rolling out the updated policy.
Health Care Employers Stepping up Compensation, Benefits to Keep Workers
Despite the pending health care regulatory changes impacting reimbursements - not to mention the prolonged uncertainty in the markets - health care organizations have continued to add employees in 2017, according to the U.S. Bureau of Labor Statistics, and many healthcare professionals are receiving pay increases as demand for them increases, according to the Health eCareers 2017-2018 Salary Guide.
Medscape 2017 Physician Lifestyle Report: Race and Ethnicity, Bias and Burnout
What Physicians Told Us About the Issues This year's Medscape Lifestyle Report included responses to questions on physicians' race or ethnicity and whether these relate to burnout, bias, and health. Provider Burnout Tied to Lower Levels of Patient Safety.
MGMA Data Finds Non-Academic Hospital System Physicians Earn As Much As $123,000 More Than Their Academic Counterparts
As part of Medical Group Management Association's 2017 MGMA DataDive Physician Compensation and Production Survey, MGMA examined compensation for physicians in academic versus non-academic institutions. Among the noteworthy differences, is earnings of nearly $123,000 more for non-academic hospital system physicians. When comparing physicians that work in an academic setting versus a hospital/IDS-owned practice, compensation differences are present across the board. With the greatest differential, specialty care physicians in non-academic hospital systems make $122,795 more than those physicians in an academic system for full-time, fully clinical physicians. Primary care physicians earn $57,129 more.
Five Ways to Protect Your Healthcare Revenue Cycle When Integrating Physicians into Your Health System
A 2015 study by the American Medical Association showed that almost 33% of physicians work directly for a hospital or in a practice with some hospital ownership - a 12% increase in just two years.1 Here are five ways to protect your healthcare revenue cycle when integrating physicians into your health system: Break down silos and communicate regularly; Scale resources intelligently; Use technology to manage and monitor financial performance; Gather and use business intelligence; and Enforce compliance.
Nurses Say They Have To Work Extra Shifts On Top Of Full-Time Hours Just To Get By
Mounting financial pressure is leading nurses to take on additional work or leave the profession entirely, according to the Royal College of Nursing's latest employment survey. In the annual survey, which polled over 7,000 members, almost a quarter (23%) said they had to do extra paid work on top of their full-time hours to make ends meet, while a similar proportion said they were thinking of leaving the job because of money worries.
Average Hospital CIO Earns $322k: 4 things to Know about Health IT Compensation
Hospital and health system CIOs reported an average base salary of $322,000 in 2017, according to the 2017 National Healthcare IT Compensation Survey. For the report, Integrated Healthcare Strategies collected data on 874 healthcare organizations, including healthcare systems, subsidiary and independent hospitals, clinics and medical groups, and other healthcare providers. Here are four things to know: Leadership-level IT position salaries increased roughly 3 percent over the last 12 months; Annual incentives, which are commonly provided to those holding leadership roles, often target 15 to 35 percent of the base salary; Organizations plan to increase IT staff, manager and executive salaries by an average of 2.8 percent over the next 12 months; and Although differences in total wage increases among various staff level positions were relatively small (0.3 to 0.5 percent), EHR and enterprise resource planning positions were on the higher end of the receiving spectrum.
Equity-based Employee Incentives in the USA
There are two main types of employee share options: incentive stock options (ISOs) and non-qualified stock options (NQSOs). This article outlines the rules relating to each scheme.
SAVE THE DATES
Featured Webinar: ASHHRA Workforce Planning from a Health System Perspective
Wednesday, December 6, 2017
1:00 PM - 2:00 pm CT
Presented by the American Hospital Association
Among the many issues facing health care leaders, not least among them is the question of who will be the workforce to provide care for a growing, diverse and aging population in the future. Myriad workforce issues are impacting patient care across the country and they will only continue to be exacerbated as transformation continues and pressures mount amid the dynamics of a changing payment and delivery system. There is a critical need to elevate and integrate workforce discussions with strategic planning now by highlighting key workforce challenges and identifying solutions through innovative approaches and opportunities. Our speakers will discuss their challenges and successes around strategic workforce planning and development from their respective health systems.
Featured Webinar: People Analytics: Recalculating the Route
Wednesday, December 7th, 2017
1:00 pm - 2:00 pm CT
In times of uncertainty, your people are the key to the stability and success of your organization. Value-based care requires an environment in which employees are engaged, passionate, and empowered to deliver quality care and positive business outcomes. Join us for a Kronos-sponsored webinar, where Deloitte Consulting's Chip Newton, Managing Director and Healthcare Sector Leader will discuss trends in people analytics and it's increasing role in driving operational and patient outcomes. Understand the drivers of this shift; Understand new uses for data to drive business results; Identify the operational and patient care outcome people effect; and Learn how Workforce Management strategies and solutions make a difference.