Physician Fair Market Value

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	Pinnacle's Fair Market Value Program When contracting with physicians, a key element of risk management for hospitals is the determination of fair market value (FMV). There are different approaches that can be used to identify fair market compensation, and Pinnacle has developed a comprehensive program to leverage both published data and market comparable methods. Program elements include: Program elements include: ▪FMV Reference Tool (Workbook), ▪An Information Exchange Network, and ▪Focused Consulting. The centerpiece of the program is the FMV workbook. Pinnacle has found that over 60% of contracts for medical directorships or on-call arrangements can be established by following a standard formula-based approach. This method requires knowledge of the physician market and an investment in various data sources, but less extensive analysis of market conditions and other factors to derive commercially reasonable compensation / payment rates. Consequently, Pinnacle has developed an FMV Workbook that can save hospitals tens of thousands of dollars in consulting fees every year. The tool distills publicly available physician compensation data from four recognized sources and applies Pinnacle's industry knowledge to establish hourly FMV payment ranges for over 50 physician specialties for both medical directorships and on-call arrangements. The ranges and supporting documentation are compiled in a Workbook that hospital contracting personnel and compliance authorities can use to establish commercially reasonable payment terms. The workbook does not obviate the need for all focused FMV reviews. However, hospitals using it enjoy the following benefits: ▪Third-party opinion on FMV ranges for standard contracting agreements ▪Significant reduction in the cost of focused consulting reviews ▪Consistency in contract terms and methods across specialties ▪Easier negotiation with physicians ▪Expedited completion of physician contracts ▪Annually updated information, and ▪Access to other resources including an FMV network as well as focused consulting. The aim of the Pinnacle FMV Program is to simplify, to the extent possible, compliance with FMV requirements and aid in the development of productive physician-hospital relationships. To learn more about the Physician FMV Program features or how Pinnacle can assist your organization contact Dan Stech (303.390.1946 or dstech@medbizz.com) or David White (303.407.0526 or dwhite@medbizz.com) or download the Program Overview, Summary and Sample Reports for more information.	FMV Workbook & Network Click here to download our FMV Program Overview Click here to download our FMV Program Structure Click here to download our detailed Program Summary




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