According to Cary Edgar, "the key is to balance simplicity and effectiveness. Many bonus plans are far too complex-leading to a lack of understanding and impact."
Phoenix, Arizona (PRWEB) March 31, 2017
This webinar will address the pros and cons of implementing a productivity-based bonus plan for PT/OT providers and how to create and implement a bonus plan.
More specifically, the following questions will be answered:
- What is the typical compensation package for PT/OT providers and how does a bonus plan fit into this package?
- What risks need to be addressed before and after implementing a bonus plan?
- Should bonuses be determined on a group or individual basis?
- What factors should be used to determine bonus amounts?
- How often should bonuses be paid? Monthly? Quarterly? Annually?
- Should PT/OT support staff members be included in the bonus plan?
- Should PT/OT Directors be bonused differently and, if so, how?
- What are examples of bonus plans that work?
SPEAKER: Cary B. Edgar, JD, is the president of PT Management Support Systems LLC (PTM) which provides physical and hand therapy development, management and consulting services to orthopaedic and other physician groups throughout the United States. Cary is a recognized expert on both the financial and regulatory aspects of therapy practices. He is a frequent speaker and has published numerous articles on PT/OT strategic planning, benchmarking and financial analysis, incentive compensation plans and utilization trends. Cary obtained his undergraduate degree from the University of Michigan and JD from Northwestern University. He is a member of the Medical Group Management Association and American Health Lawyers Association.