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Pinnacle FMV
Workbook
Order 2007 Workbook
View Sample Reports
There are different
approaches that can be used to identify fair market value (FMV) compensation
ranges. The first element in the Pinnacle FMV Program leverages the
published compensation approach to simplify the FMV determination
process.
Pinnacle has found that FMV determinations for 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. In response to client
requests, Pinnacle has developed a reference tool, or Workbook, to guide
hospitals in making FMV determinations while satisfying internal rules for
third-party opinions.
The tool distills publicly
available physician compensation data from four recognized sources (those
specified in the Stark II, Phase II regulations) and applies Pinnacle’s
industry knowledge and analytical methods 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. Additionally,
Stark II calculations are provided for each specialty.
The Workbook is a simple to
use and understand tool. While it does not obviate the need for all focused
FMV reviews, hospitals using it enjoy:
 ▪Third-party opinion
on FMV ranges for standard contracting agreements
▪Expedited completion
of physician contracts
▪Significant
reduction in the cost of focused consulting reviews
▪Consistency in
contract terms and methods across specialties
▪Easier negotiation
with physicians
▪Annually updated
information, and
▪Access to other
resources including an FMV Network as well as discounts on focused
consulting reviews.
Given the number of
contracts for which the workbook can be utilized, hospitals can eliminate
the need for many in-depth consulting engagements and tens of thousands of
dollars in consulting fees every year. Perhaps one of the biggest benefits
of the Workbook is the reduction in time and frustration that hospital
leaders and their physician counterparts experience in finalizing contract
terms. To maximize the Workbook’s value, data tables, trend charts and
supporting material are provided to help inform contracting decisions. In
addition, purchasers receive direct training that allows them to apply the
Workbook in working through a current contracting project.
At $7,500 per hospital
including licensing and training, the Workbook is a consistent, reliable and
cost-effective means of supporting your contracting and compliance efforts.
To learn more about the Pinnacle Physician FMV Workbook, contact Dan Stech
at 303.390.1946 or
dstech@medbizz.com.
Workbook sample materials are available upon
request.
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2007
FMV Workbook
Click
here to download our
FMV
Workbook Overview
Click
here to download Sample OB/GYN Compensation Reports
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