According to the report, the raise should make the hospital a better competitor in attracting residents. The incentive program for quality improvement, which is new this year, would allocate $750,000 for a bonus pool payable to residents who help with cost-cutting and quality measures.
The program is expected to base bonuses on reduced clinical wait times, less overuse of lab tests and other financial and quality measures. The program is patterned on a similar program for residents at the University of California San Francisco Medical Center.
Residents also voted to approve salary increases of 2 percent every six months and improved benefits to offset the costs of medical education.
Read the Crain’s New York Business report on Maimonides Medical Center.
Read more on compensation:
–California Hospital CEO Receives 4% Pay Raise Following Committee Recommendation
–4 Factors That Determine Hospital Executive Compensation
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