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Tip: Design a bonus plan for hospitalist recruitment

Hospitalist Leadership Connection, July 15, 2008

Most hospital medicine programs provide a bonus plan for their physicians in order to motivate and reward good performance. Although varieties of bonus plans abound, based on performance, productivity, or quality, it’s important to remember some key rules of attracting and retaining hospitalists regardless of bonus type.

• Designate an appropriate amount of budgeted dollars to bonuses. Some experts say that a 10% increase or a flat bonus of $10,000 are bonus amounts that will affect behavior.
• Keep the formula simple. The bonus calculation should easy to understand and easy to articulate to potential hospitalist candidates.
• Ensure timely payment. Bonuses should be paid on a monthly or quarterly basis after notification.
• Consider bonuses based on individual performance rather than on group performance. Because performance varies by doctor, you should target bonuses based on select physicians instead of on the group. This will ensure a fair, easily-attributed benchmark for each hospitalist.

The above is adapted from Practical Guide to Hospitalist Recruitment and Retention by Kirk Mathews, published by HCPro, Inc. Mathews will also be speaking at the upcoming HCPro symposium Developing and Maximizing your Hospitalist Program on September 25-26 in Chicago.

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