Incentives Aid Medical Practice Goals
Employees may be more motivated with frequent financial incentives.
Incentives may aid employees in meeting practice goals, according to an article published in Medical Economics.
The author of the article, Judy Bee, a medical practice consultant from the Practice Performance Group in La Jolla, Calif., identifies five tips to set up an incentive plan tied to measurable practice goals.
Bee's recommendations are:
- establish a bonus pool for increasing the number of new practice patients
- offer paid time off
- instead of forcing group activities, distribute the cash
- make bonus distribution more frequent, possibly monthly or quarterly
- use a bonus plan template that elucidates benchmarks for patient-generated revenue triggers
"If you want more than just a 'good job' from your employees, an incentive plan may help," Bee writes.