This bonus model rewards providers seeing less patients with more acute needs as well as providers seeing more patients with less acute needs. Can you point me in the right direction as to WHY I should be paid $32/RVU? I really have no other basis to provide you for the $32 per RVU other than at $10 per RVU you are totally getting RIPPED off. Set the dollar figure for the bonus based on your systems budget, average payer reimbursement for visits based on payer mix, and upstream or community mission-value of the visit. How much should the percentage be? $27 amd $42? I will explain in a series of posts. If you are busy, you will easily earn $180k a year on this model. New Jersey average nurse . Compensation Component. Devi, S. (2011). In 2015, the VHA set out to set standards for productivity measurements for NPs, physician assistants, and clinical nurse specialists, and in doing so, the physician productivity model was adapted for the NP workforce. The .gov means its official. Over the years the nurse practitioner (NP) role has evolved into an impressive dimension focused on providing quality care to the community served. 2. From my experience, most bonus incentives are either based on the mid-level providers collections or work RVUs. A nurse practitioner (NP) in women's health care was offered an employment contract with a bonus structure. It would be under the providers profile. But were not supposed to discuss compensation with each other, so I want to be able to present my argument without using that. A standard office visit for a patient following up for hypertension requires fewer resources than suturing the 9 cm laceration mentioned above. Nurse practitioners (NPs) are valued members of the health care team, and their numbers are growing each year. Productivity among healthcare providers is calculated using a measure called the RVU (Relative Value Unit). Investigate the number of patients and work RVUs to match to your model as your baseline. The top diagnoses are hypertension, heart failure and hyperlipidemia. Employee will be entitled to reasonable access to Employer's books. I have yet to earn that bonus because of some circumstances that limit my productivity, I have made 3,800 RVUs in the past year. Please enter a Recipient Address and/or check the Send me a copy checkbox. Suturing a laceration could potentially lead to medical complications and therefore carries a higher risk of a malpractice lawsuit. In my next post, I will explain how the RVU is factored into your paycheck. I see on average 2.3 patients per hour. I want to make 160K a year. Finance, Physician Relations. Thus, the APRN role of Certified Registered Nurse Anesthetist (CRNA) is not covered by this directive. Alabama Average RN Salary: $61,920 Average Hourly: $29.77 Number of RNs in Alabama: 49,780 49. One size does not fit all. This works out to a $3,849 bonus for the mid-level provider. The base pay doesnt matter if you are RVU based. Mid-level providers are well aware of their high value in todays job market. 4. Starting Salary Range: $100,00 - $116,600 - $148,390 . Would it be the median multiplied by 30% then the percent of clinical effort? 2019;67(6):707-712. But in some contracts, the bonus language is clearly worded and fair. The employer still retains the majority of the revenue the employee generates, but the employee gets a percentage of collections over a threshold amount. Each EMR is different. Part 1- The RVU. The employee should be able to verify that the bonus terms have been applied correctly; that is, the employer should offer the employee monthly or quarterly data on the billings and collections attributable to the employee. Employers paying based on productivity will typically put into your employment contract a dollar amount they will compensate you for each RVU earned. Registered nurses must be licensed. A production based model of $30-36 per RVU is fair for all parties. For practice models in which the AP bills independently, the AP should be eligible for wRVU-based productivity incentives. Does this seem reasonable ? NP gets $80,000 in base salary plus 20% of all billings in excess of $240,000 per year. A well-structured bonus option can incentivize providers to be efficient and to capture all appropriate charges by learning and applying the rules on billing and coding. What is the expected volume per day? Physician Productivity Bonus Model: A Hybrid of Work RVUs and Encounters. For our example, well assume that the owner takes 60% and the midlevel takes 40%. Example: If Provider generates $150,000.00 in Net Collected Receipts in any calendar quarter, Provider shall be paid a Base Compensation amount of $22,500.00 plus a Productivity-Based Bonus Compensation of $7500.00 (Net Collected Receipts of $150,000 0.20 = $30,000 less Base Salary of $22,500 = $7500 bonus). document.write('