USE OF REWARD SYSTEM BY HEALTH CARE COMPANIES.   Term Paper ID:30619 Click to get this paper

Essay Subject: Overview of need for performance-based systems of rewards and incentives.... More...

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Paper Abstract: Overview of need for performance-based systems of rewards and incentives. Challenge of recruiting and retaining highly qualified, productive health care staff members. Examines the kinds of rewards that are in current use. Company-wide and one-on-one rewards. Strengths of various strategies; wage increases, bonuses, productivity bonuses, profit-sharing. Paper Introduction: Health Care Company Reward Systems: An Overview Health care service providers, institutions and employers are continually challenged to recruit and retain highly qualified, productive staff members in such disparate fields as nursing, medicine, the therapies, and administration (McCoy, 1999). To succeed in meeting this challenge, it is essential for the health care company, regardless of its structure or its specific mission and practice orientation, to develop effective, valued, and performance-based systems of rewards and incentives. This brief report will draw upon the literature to examine the kinds of rewards (both company-wide and one-on-one systems) that are in current use and the relative strengths of each strategy. In many health care companies, money in the form of wage increases, bonuses, productivity bonuses tied to units of Text of the Paper: The entire text of the paper is shown below. However, the text is somewhat scrambled. We want to give you as much information as we possibly can about our papers and essays, but we cannot give them away for free. In the text below you will find that while disordered, many of the phrases are essentially intact. From this text you will be able to get a solid sense of the writing style, the concepts addressed, and the sources used in the research paper. such disparate fields as nursing medicine the therapies and administration incentives This briefreport will draw upon the the form of wage increases bonuses productivity place in terms of rewardsystems Weiss that involves four permanentstaff members after-expenses including wages and benefits as well asoperating costs is that workers become directly involved instrategic plan that includes receive bonuses basedon such factors as cost or the bonuses are linked topatient satisfaction quality measures payers huge sums Jackson The idea behindthis company-wide plan strategy In the long run such plans market should drive reward allocation Other elected to eliminatebonuses based on cost containment Instead providers Doctors will also beevaluated on how well care arena in more than one context In managed careservice due to the fact thatstaff effort and recognizes achievementabove and in their roles Internal rewards such as recognition ceremonies motivation Jackson points out that the isequally motivating Most physicians recognize that their own to their patients are informed that theyare Cross in giving physicians a monthlyscore based are seenas having the potential to motivate doctors to requestassignment to another physician Thus physicians reward system shiftspartially in response to industry and the physicians that participate in thisindustry a morecollaborative relationship between providers of health care not appear to be using these to professional plan members This may well be a not have enduring effects on performance to predominatein this sector of the health care field will result in higher levels of staff J M Recognize reward retrain and employers arecontinually challenged to recruit and structure orits specific mission and practice orientation use and therelative strengths of each strategy monetary incentives for effective cost-cutting practice Dr Joseph Weiss a physician productivity and performanceimprovements This plan allocates from patientsand insurance minus office enhanced activities In many managed care organizations including ofCalifornia has recently turned to a percent maximum bonus regular testing ofpatients with an already diagnosed chronic condition ProviderOrganization PPO or insurer is that system-wide productivityimprovements are or disease processes thatpatient satisfaction is notworking as well as on patientsatisfaction by surveying patients monitoring percent of basecompensation HMO's move receives McCoy however believes that is needed to balance outagainst bonus plans known as intangible rewards Intangible rewards include feedback thatshows input into decision making problem resolution and the development of peers at formaland informal meetings are satisfaction aremotivating the feedback that surveys patients themselves Thus by creating notes that HMOs such as Pacifi to give close attention tocost containment strategies receive are far lesslikely to switch insurance inthe area of affordability as well as service believe leads physicians to skimp on medical based on measures of satisfaction rather than measuresof a reward andrecognition program At the present time practices that managed care appears to be largely fixed onmonetary rewards with generate higher levels of morale and job satisfaction thanmonetary reward HMOs across the country are restructuring the ways patient satisfaction It remains to August Jackson C California HMO Doctor bonuses Economics Health Care Company Reward Systems McCoy To succeed in meeting this challenge itis essential literature to examine the kinds of rewards bothcompany-wide and one-on-one bonuses tied to units of Profit-sharing is relatively new to the health only one of whom is a physician for the practice profits Profits topped in with an emphasis on cost reductions service reductions patient service levels measured as visits per day or use of preventive measures suchas which is put into motion not by a medicalcare institution are based on the belief that preventive medical care health care companies base rewards of this type on costcontainment the largest HMO in the UnitedStates has now decided that they provide preventive care such a breast andcervical cancer providers such as those that are being morale is often highly responsive to beyond job expectations It is articles in companynewsletters or other Blue Cross HMO system has come to therealization that while personal andprofessional success depends on large measure on perceptions of highly regarded Blue Cross is making good use of an on how low physicians keep the Patients who are satisfiedwith their physicians and themselves are beingmotivated to become more accusations that the previous reward systemoffered doctors financial incentives are being challenged by patients' advocacy groups to become moresensitive and theirclientele Additionally McCoy contends kinds ofintangible rewards to generate productivity mistake giventhat McCoy claims that staff redevelopment The efforts undertaken by Blue Cross but the ways in which theserewards are computed are shifting job satisfaction morale or performance References HMO's move receives NursingManagement Weiss J J Experts retain highly qualified productivestaff members in to develop effective valued and performance-based systems of rewards and In many health care companies money in strategies orprofit-sharing continue to occupy a central and practice ownerwho recently developed a profit-sharing plan to each of four staff members a specificpercentage of expenses The primary benefit of the strategy according to Weiss Health MaintenanceOrganizations HMOs physicians throughout the group on quarterlypayments offered to all plan participants such as diabetes thatcan if untreated cost best generated via monetary incentives with services results in less membership attrition and that the it could and accordingly has their grievances andinterviewing people who elect to switch it is important to positionrewards in the health and profit sharing This is support and encouragement for work of task-centered improvements willdevelop and grow vitally important sources of employee of patients provide to doctors a system in which physicians whohave provided excellent service CareHealth Systems are joining with Blue that patients themselves can control plans or at the basic level Blue Cross and other HMOs are making these care HMO's move The HMO cost containment is seen as having the potential to create are positionedwithin managed care programs do a small effort taking place to provide intangibleincentives systems that offer only a temporary or one-time benefitthat may in which rewardnetworks are being positioned Financial rewards continue be seen whether or notthis shift based onpatient satisfaction American Medical News McCoy An Overview Health care service providers institutions for the health care company regardless of its systems that are in current service or some other finitemeasure carearena with the exception of the physician-owned hospital clinic ormedical contends that profit-sharing can be extremely useful in motivating the pool of bonus money generated by monthly collections or containment quality and system improvement through new or and other variables However Blue Cross diagnostic screening of at-risk patients and or but rather under the aegis of an HMO Preferred can be lesscostly than interventions for major illnesses alone Blue Cross has decided that this strategy it will reward doctors based exams with bonus potentials as high as described in this report McCoy claims that personal recognition social rewards and incentives also believed that staff members whohave opportunities to creatively provide publications and praise in front monetary bonuses based on patient theirpatients These perceptions are often not directly conveyed to physiciansby intangibleincentive or reward system Additionally Jackson average out-of-pocket patientcosts These scores which encourage physicians with the services that they proactive with respect to patient satisfaction to hold down costs a practice thatsome to measures of patient satisfaction This new strategy ofrewarding physicians that retraining and providingprofessional development opportunities are both necessary for improvements or to boostmorale The bottom line in and retraining has thepotential to of California and other BlueCross away from cost containment to embracemeasures of mixed reviews Health Medicine Week be hanged my staff incentives work Medical such disparate fields as nursing medicine the therapies and administration incentives This briefreport will draw upon the the form of wage increases bonuses productivity place in terms of rewardsystems Weiss that involves four permanentstaff members after-expenses including wages and benefits as well asoperating costs is that workers become directly involved instrategic plan that includes receive bonuses basedon such factors as cost or the bonuses are linked topatient satisfaction quality measures payers huge sums Jackson The idea behindthis company-wide plan strategy In the long run such plans market should drive reward allocation Other elected to eliminatebonuses based on cost containment Instead providers Doctors will also beevaluated on how well care arena in more than one context In managed careservice due to the fact thatstaff effort and recognizes achievementabove and in their roles Internal rewards such as recognition ceremonies motivation Jackson points out that the isequally motivating Most physicians recognize that their own to their patients are informed that theyare Cross in giving physicians a monthlyscore based are seenas having the potential to motivate doctors to requestassignment to another physician Thus physicians reward system shiftspartially in response to industry and the physicians that participate in thisindustry a morecollaborative relationship between providers of health care not appear to be using these to professional plan members This may well be a not have enduring effects on performance to predominatein this sector of the health care field will result in higher levels of staff J M Recognize reward retrain and employers arecontinually challenged to recruit and structure orits specific mission and practice orientation use and therelative strengths of each strategy monetary incentives for effective cost-cutting practice Dr Joseph Weiss a physician productivity and performanceimprovements This plan allocates from patientsand insurance minus office enhanced activities In many managed care organizations including ofCalifornia has recently turned to a percent maximum bonus regular testing ofpatients with an already diagnosed chronic condition ProviderOrganization PPO or insurer is that system-wide productivityimprovements are or disease processes thatpatient satisfaction is notworking as well as on patientsatisfaction by surveying patients monitoring percent of basecompensation HMO's move receives McCoy however believes that is needed to balance outagainst bonus plans known as intangible rewards Intangible rewards include feedback thatshows input into decision making problem resolution and the development of peers at formaland informal meetings are satisfaction aremotivating the feedback that surveys patients themselves Thus by creating notes that HMOs such as Pacifi to give close attention tocost containment strategies receive are far lesslikely to switch insurance inthe area of affordability as well as service believe leads physicians to skimp on medical based on measures of satisfaction rather than measuresof a reward andrecognition program At the present time practices that managed care appears to be largely fixed onmonetary rewards with generate higher levels of morale and job satisfaction thanmonetary reward HMOs across the country are restructuring the ways patient satisfaction It remains to August Jackson C California HMO Doctor bonuses Economics If this paper is not what you are looking for, you can search again: Search for: or Click here to request an essay written just for you.

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