Question: When will the new Clinical Compensation Plan be finalized and implemented?
Answer: The Steering Committee recommended a framework and key parameters for the Clinical Compensation Plan during Phase 1 of the process. Departmental Compensation Committees made preliminary recommendations for their departmental compensation plans that aligned with the SOM framework during Phase 2. Analysis and financial modeling are currently underway to determine the implications of the proposed plans developed and submitted by departments (Phase 3). Additional revisions and refinements to departmental clinical compensation plans may be required following this analysis and modeling. Phase 4 consists of a “shadow period” during which there will be NO CHANGES to compensation for any faculty members, but there will be reports developed that demonstrate the hypothetical implications of moving to the new compensation plan. Implementation of the new Clinical Compensation Plan will begin once accurate modeling and refinement to departmental clinical compensation plans has been conducted, but the pace of full implementation will be designed to minimize any adverse or abrupt changes to individuals. We aim to implement potential changes in the least disruptive way, so the timing and/or phase-in of the plan will be based on continual input from faculty members and leadership.
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. For more information, visit the Clinical Compensation Plan website.
Filed Under: Clinical