Money is not the only motivator.
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In the battle to manage change and deal successfully with health care reform, hospitals are looking to innovative methods to optimize compensation for their executives. Results of the 1993 Hay Hospital Compensation Survey indicate clearly that the pressures of managed care and the uncertainty--but inevitability--of reform are forcing organizations to use new tools and strategies for achieving productivity and quality goals. Another interesting survey finding: Two positions critical to the success of integrated health care systems--the head of medical affairs and the head of managed care--show significant compensation growth during the past two years.
In the rush to transform chaos into a competitive edge, health care executives continue to embrace every new management strategy in the book, still hoping, after all this time, for The Answer. Yet right under their noses, relegated to the closet of passé human resource programs, lies a proven strategy: compensation. Fairly compensating people to perform new and demanding roles is finally taking center stage.
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