Carrot Approach to Radiologist Compensation
A creative radiologist compensation plan is critical for improving group and individual performance as well as attracting and retaining talent. Transforming your practice from a traditional to an incentive-based compensation plan can be accomplished through this three-phase process: Phase I. Review and Prioritize. This phase involves an assessment of the current status of the group.
- Review the group’s vision, goals and strategic objectives
- Benchmark group and individual compensation and productivity against national benchmarks
- Outline goals for the Incentive-Based compensation plan
- Begin to discuss, educate and create awareness among all group members regarding the current status of the group, and share the benchmarking information.