Question: What do we mean by “fair market value?”
Answer: The fair market value of physician compensation is a fundamental consideration in healthcare compliance. Specifically, fair market value compensation is a requirement for compliance with the federal Physician Self-Referral Law (Stark Law) and Anti-Kickback Statute (AKS). These laws are designed to prevent overutilization of healthcare services and increased costs, unnecessary services, and compromised patient care.
If you have specific questions about the Clinical Compensation Plan redesign, please contact your department chair or Department Compensation Plan Committee members. You may also send an email inquiry to: clinicalcompplan@uvahealth.org. Further, an internal website is being developed that will host information on the Clinical Compensation Plan. More details to follow.
Filed Under: Clinical