August 2020 Physician Comp Spreadsheets

This week’s BIG Idea is to combine practice management system data with your accounting data in your data warehouse and then use that data to calculate physician compensation.  Whether your physician comp model is based on collections, wRVUs, or some other production-based factor, you likely have an expense side to the physician compensation calculation as well.  Combining both the revenues and the expenses in the data warehouse allows you to connect the data to Excel to automate the math and speed up the month-end process.  Whether that automation allows you to make calculations more quickly, more frequently, or maybe even prospectively, the time savings can be huge.