Compensation and Benefits Manager manages the design, implementation, administration, communication, and ongoing evaluation of the organization's compensation and benefits programs, policies, and procedures. Ensures that compensation and benefits programs support the organization's business objectives and meet all legal requirements. Being a Compensation and Benefits Manager develops and manages compensation and benefits budgets. Oversees compensation processes, including survey participation, job evaluation, salary structure development, base pay administration, incentive plan design and analysis. Additionally, Compensation and Benefits Manager manages benefits planning and programs including health and welfare, retirement, and work life. May select and manage outsourced providers. Requires a bachelor's degree. Typically reports to a head of a unit/department. The Compensation and Benefits Manager manages subordinate staff in the day-to-day performance of their jobs. True first level manager. Ensures that project/department milestones/goals are met and adhering to approved budgets. Has full authority for personnel actions. To be a Compensation and Benefits Manager typically requires 5 years experience in the related area as an individual contributor. 1 - 3 years supervisory experience may be required. Extensive knowledge of the function and department processes. (Copyright 2024 Salary.com)
In 2020, united in a fierce commitment to deliver the highest quality care and exceptional patient experience, Virginia Mason and CHI Franciscan Health came together as natural partners to build a new health system centered around the patient: Virginia Mason Franciscan Health. Our combined system builds upon the scale and expertise of our nearly 300 sites of care, including 11 hospitals and nearly 5,000 physicians and providers. Together, we are empowered to make an even greater impact on the health and well-being of our communities.
CHI Franciscan and Virginia Mason are now united to build the future of patient-centered care across the Pacific Northwest. That means a seamlessly connected system offering quality care close to home. From basic health needs to the most complex, highly specialized care, our patients can count on us to meet their needs with convenient access to the region’s most prestigious experts and innovative treatments and technologies.
While you’re busy impacting the healthcare industry, we’ll take care of you with benefits that may include health/dental/vision, FSA, matching retirement plans, paid vacation, adoption assistance, annual bonus eligibility, and more!
Job Summary:
This job is responsible for managing and evaluating provider compensation program operations for the Virginia Mason Franciscan Health (VMFH) Physician Enterprise and its affiliates to facilitate consistency/alignment of provider compensation arrangements/payment practices and compliance with internal policies/procedures and applicable regulatory requirements. In addition, an incumbent works with a wide variety of internal stakeholders to implement and evaluate the impact of new/revised provider compensation models that assure alignment with VMFH/CommonSpirit goals are consistent with best market standards/practices.
Work also includes: 1) managing ongoing administration of provider compensation policies, including documentation of fair market value and commercial reasonableness of all models; 2) serving as key contact with the CommonSpirit national provider compensation function to facilitate alignment with system-wide standards and procedures; 3) coordinating the smooth transition of acquired provider staff to VMFH programs; 4) participating in the planning and development of the provider compensation operating plan; 5) overseeing/coordinating compensation/payroll, accounting and financial reporting for the provider compensation program; and 6) supervising subordinate staff engaged in provider compensation-related services and activities.
Work is accomplished in close collaboration with multiple VMFH provider compensation committees, VP Operational Finance, and National Compensation leadership. An incumbent consults with higher level management on major operational or business decisions prior to implementation.
Work requires knowledge of quality-based provider compensation models, contracting and related regulatory requirements and judgment/critical thinking in addressing operational issues and ensuring compliant operations. Also requires knowledge of general business planning, employee supervision and best practice standards relating to physician/provider compensation/productivity metrics/measures.
Essential Duties:
Manages daily activities relating to timely and accurate compensation/payroll, accounting and financial reporting for the provider compensation program.
Assures, in collaboration with VMFH accounting and VMFH provider recruitment functions, timely and accurate setup of providers across the physician enterprise.
Assures provider compensation program and related activities are executed in compliance with all regulatory requirements, physician/provider contract terms/provisions and CommonSpirit National fair market value standards and established guidelines.
Participates, as a member of the finance team, in activities necessary to complete an accurate forecast and budget of all operational activities.
Manages and evaluates assigned staff engaged in financial analysis/modeling and tracking/validating/processing provider compensation per contract terms/provisions.
Performs related work as required.
Education/Work Requirements:
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