pay for performance


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pay for performance

,

PFP, or, P4P

The use of specific indicators of health care efficiency or quality to increase or decrease the funds paid to health care providers for the services they render.
References in periodicals archive ?
The related report, "Driving Growth & Talent Retention through Pay for Performance," investigates how compensation organizations at leading global companies are rewarding top performers and retaining talent in today's environment of shrinking resources and increasing talent competition.
8220;The existence of a pay for performance strategy alone is not a differentiator between high- and low-performing organizations - most organizations, regardless of market performance, reported that they are using some sort of pay for performance strategy,” said David Wentworth, a i4cp Senior Analyst and author of the report.
This report was an ardent motivator in promoting the adoption of new, safe practices related to quality and pay for performance.
We don't want pay for performance to initiate yet another broken system.
And some feel that pay for performance does have negative effects, as well, such as causing rifts among physicians who achieve performance goals and those who don't (18 percent) and demoralizing physicians who fail to meet the goals (17 percent).
With companies under growing pressure from shareholders to strengthen the governance of their executive compensation programs, our survey results clearly underscore the complexity of designing, analyzing and disclosing pay for performance.
Successful implementation of pay for performance is a multi-step process involving demonstrating need, aligning with corporate goals, deploying appropriate technology, communicating to and training all employees, and measuring and improving results, according to the study.
The money available for pay for performance should be used to educate us about "best care/error-free" medical care.
Engaging physicians in pay for performance should not be taken lightly by a hospital.
The Summit features a faculty of over 100 national experts presenting over 75 substantive sessions focusing on value-driven healthcare, transparency, financial incentives and pay for performance to enhance healthcare quality, efficiency and cost effectiveness.
To help compensation organizations understand how other industries and high-performing companies deploy their pay for performance systems, research and consulting firm Best Practices, LLC conducted a study that used evidence-based benchmarks to evaluate incentive systems with the goal of identifying strengths, gaps and improvement opportunities.
Welcome to the world of physician pay for performance.