keyglobeiollogoPhone (319) 626-2302

Catalog Number : agn1512
Title : The ED Call for Pay Crisis
Speaker : Steve Worthy

Duration : 90 minutes

Webplay Recording Date : 9-24-2008
Webplay Price : $ 195 for two weeks viewing

Webinar Presenter: Steve V. Worthy & Max Hockenberry

Webinar Title: The Emergency Department (ED) Call Pay Crisis: A New Solution (The Call-Pay Solution® for an Increasing Complex Problem Facing Hospital Leaders Today

Webinar Purpose:

To pay or not to pay? That has been the question for many hospitals faced with requests – from physicians for payment for on-call coverage. There may be a new answer to the question. One way to address this dilemma is to compensate physicians who provide ED call coverage through deferred compensation plans, rather than on a “pay as you go” basis. Deferred compensation can prove to be a “win-win” proposition for both the physicians and the hospital, and more closely align their interests. A deferred compensation plan for ED call would look something like this: Physicians who are to be paid for call coverage would sign a personal services agreement with the hospital. The agreement would specify the call duties of the physician and the rate of pay. But instead of paying the doctor now, the amount earned would be credited to a deferred compensation plan which would only be paid to the doctor five or ten years later if he or she continues to fulfill the obligations of the agreement. All the while, the amounts credited to the physician would be invested pursuant to the physician’s directions, and not be subject to tax until the future vesting.

Webinar Topics:

  • The Changing Landscape
    • Traditions reshaped
    • Physicians under pressure
    • Hospitals challenged
    • Approaches vary widely
    • Escalating call-pay crisis
    • Increasing demands
  • Current Solutions
    • Stipends or cash solution
    • Hospitalist approach
    • Avoidance
  • Resulting Consequences to Traditional Approaches
    • Slippery slope/no-end-insight
    • Zero sum game
  • Compensation Approach
    • Compensation used as a strategic tool
  • Plan Overview
    • Hospital funded 457(f) non-qualified deferred compensation plan
  • Plan Objectives
    • Provide the health care community with on-call physicians in the ED
    • Benefit both the hospital, physicians and patients
    • Legally permissible
    • Financially feasible and sustainable
  • 457(f) Platform
    • Meets IRC regulations
    • Substantial risk of forfeiture
    • Not subject to qualified plan limitations
    • Personal Service Agreement
    • Stark
    • Anti-kickback
    • Excess benefit
    • Hypothetical
    • Measurement allocation
  • Advantages of taxsheltered growth in deferred compensation
  • Vesting
    • Cliff vesting in a 457(f) plan
  • Funding design
    • Immediate versus deferred compensation
    • Corporate Owned Life Insurance (COLI)
    • A cost recovery vehicle used to reinforce plan stability and sustainability
    • A win-win perspective
    • Allocation strategy
    • Governing Board structure and responsibilities
    • The Call-Pay Solution™ Rating Scale
    • Creating a Call Score™
    • Establishing a specialty tier system
    • Funding allocation per diem methodology
    • Tier system calculation methodology
    • Illustrating the on-call per diems by tiers

Target Audience:  CEOs, COOs, CFOs, board members, and medical directors.

Contact Hours:  This course has been approved for 1.8 Iowa Nursing Contact Hours. There is usually a reciprocal agreement between state associations to allow these to count for each state. If you have any questions, please ask your state association.