HealthCare Appraisers, Inc. announces the release of the latest version of its Physician Employment Calculator.
The Physician Employment Calculator is a sophisticated web-based program that determines the fair market value of physician employment arrangements. Introduced in 2014 and in use by over 300 hospitals across the U.S, the Physician Employment Calculator has been used to assess the FMV of thousands of physician compensation arrangements.
With its intelligent web-based “data gathering” front end, the Physician Employment Calculator prompts the user to enter relevant data for each arrangement including the physician’s specialty and qualifications; attributes of the local market; the specific compensation model being used; additional services being provided (such as medical director duties, midlevel supervision and excess call coverage); and the physician’s historical and/or expected productivity.
The calculator then uses sophisticated algorithms to mirror the analysis that HealthCare Appraisers uses in its traditional valuation models. While the Employment Calculator typically opines favorably on most tested arrangements, a simplified pathway is created to allow expedited secondary analysis by HealthCare Appraisers’ team of valuation professionals of those arrangements that are not supported by the calculator.
“The Physician Employment Calculator was developed to provide speed, cost effectiveness and defensibility to the physician employment process,” stated Albert “Chip” Hutzler, JD, a Partner with HealthCare Appraisers. “It has been a genuine success in assisting our clients with regulatory compliance,” he continued.