salary compression stalls growth of hospice and palliative compression programs comhtml
Hospices and hospital-sponsored palliative care programs are experiencing increased demand for physician services in clinical and quasi-administrative capacities. As these organizations build their medical staffs by employing additional HPM physicians, they're finding that creating and filling "leadership" opportunities is proving to be a formidable challenge. Why?
The compensation program attributes that enable staff growth become liabilities when the principal objective of medical staff development turns to leadership building. Some compensation experts label it salary compression. Others refer to it as salary stagnation. Either way, it is the result of forces converging in the palliative medicine sector.
When there is a shortage of credentialed professionals, the imbalance between qualified people available to fill positions and the demand for physicians forces hospices (and other program sponsors) to offer higher salaries to attract the limited number of qualified applicants. And when insufficient revenue sources limit funding for medical staff development, those limited funds are typically used to attract new staff members. While such a priority enables staff growth, compression at the "senior" medical director levels typically results. Salary differentials between the ranks have an increased potential for erosion. And so leadership opportunities look unattractive, and prospects (both inside and outside the organization) shun opportunities that in all other respects represent a professional advancement opportunity.
Some hospices have implemented structural modifications to their physician compensation program, with varying degrees of success. But success,nonetheless. It all begins with a reevaluation of the "value" placed upon HPM physician activities and responsibilities.