In a recent Thought Leadership post, Panos Lykidis, MBA, a vice president at The Camden Group, shared 10 rules for hospital and health system leaders to follow when developing physician performance metrics for an alignment strategy.
1. Physicians should be able to influence the metrics. Physicians need to believe they can directly impact the metrics with their behaviors.
2. Clearly explain metric baselines. Be transparent with physicians about the development process and the data sources.
3. Collaborate with physicians to set performance targets. The targets need to be reasonably achievable, as well.
4. Make metrics meaningful to physicians. Focusing the metrics in areas that physicians have expressed interest in or concern about will foster buy-in.
5. Implement significant financial incentives. When physicians meet or exceed difficult performance targets, they should be rewarded accordingly.
6. Have metrics support a larger goal. For example, achieving a series of performance targets would make the cardiac program the best in the state.
7. Measure management's performance. Metrics should have a subset for management for better alignment with goals.
8. Present metrics regularly. Mr. Lykidis says a monthly presentation is better than quarterly.
9. Set a sliding compensation scale and minimum threshold. That way, physicians can be rewarded for progress, not just goal achievement.
10. Evaluate metrics annually. An organization's goals or vision can change, necessitating a change in metrics as well.
1. Physicians should be able to influence the metrics. Physicians need to believe they can directly impact the metrics with their behaviors.
2. Clearly explain metric baselines. Be transparent with physicians about the development process and the data sources.
3. Collaborate with physicians to set performance targets. The targets need to be reasonably achievable, as well.
4. Make metrics meaningful to physicians. Focusing the metrics in areas that physicians have expressed interest in or concern about will foster buy-in.
5. Implement significant financial incentives. When physicians meet or exceed difficult performance targets, they should be rewarded accordingly.
6. Have metrics support a larger goal. For example, achieving a series of performance targets would make the cardiac program the best in the state.
7. Measure management's performance. Metrics should have a subset for management for better alignment with goals.
8. Present metrics regularly. Mr. Lykidis says a monthly presentation is better than quarterly.
9. Set a sliding compensation scale and minimum threshold. That way, physicians can be rewarded for progress, not just goal achievement.
10. Evaluate metrics annually. An organization's goals or vision can change, necessitating a change in metrics as well.
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