Abstract
Academic pediatrics departments aim for excellence in patient care, patient and family satisfaction, administration, teaching (education/training), research and service /community engagement (CARTS model [1] Olsen S. Gautham K. Kilbride H. Artman M. Lakshminrusimha S. Defining Clinical Effort for Hospital-Based Pediatricians. J Pediatr. 2022; 246: 4-7 Abstract Full Text Full Text PDF Scopus (2) Google Scholar – clinical, administrative, research, teaching and service missions). [2] Coleman D.L. Joiner K.A. Physician Incentive Compensation Plans in Academic Medical Centers: The Imperative to Prioritize Value. The American journal of medicine. 2021; 134: 1344-1349 Abstract Full Text Full Text PDF Scopus (1) Google Scholar Job satisfaction and wellbeing among faculty is vital to the functioning and growth of the department. Compensation and incentive plans are utilized by academic health centers (AHC) to enhance physician alignment with goals of the clinical practice, departments, and the health system. The faculty compensation plan plays a critical role in defining clinical full-time equivalent (cFTE) work, academic goals and providing guidelines for salary, possible incentives, and bonuses. A good compensation plan must enhance equity and maintain objectivity, simplicity, and transparency. The purpose of this manuscript is to provide some guidelines for creating a good Pediatrics departmental faculty compensation plan for physician faculty and compare plans from six academic pediatric departments. “Funds flow” has recently emerged as a common term to describe strategic alignment between components of an AHC, specifically, the hospital system and academic departments. 3 Lakshminrusimha S. Murin S. Kirk J.D. Mustafa Z. Maurice T.R. Sousa N. et al. "Funds Flow" Implementation at Academic Health Centers: Unique Challenges to Pediatric Departments. The Journal of pediatrics. 2022; 249: 6-10 e4 Abstract Full Text Full Text PDF PubMed Scopus (4) Google Scholar , 4 Orlowski JM, Mitchell CA, Enders T, Merritt MG, Pfister HR, Leary TD, et al. Next-generation funds flow models: enhancing academic health system alignment. AAMC - Future of Academic Medicine Series: AAMC; 2018. Google Scholar , 5 Josephson S.A. Sacco R.L. Czech J.M. Maher R.N. Knutson C.S. Goldstein L.B. Funds flow in academic neurology: A potential path to financial success. Neurology. 2020; 94: 785-791 Crossref PubMed Scopus (5) Google Scholar , 6 Barnes J, Abrams KJ. Funds flow in academic medical centers: Moving toward a transparent and equitable funding model. https://www2.deloitte.com/us/en/pages/risk/articles/funds-flow-model-academic-medical-center.html2021. Google Scholar A detailed discussion of funds flow is beyond the scope of this manuscript but methodology of determining funds flow does influence compensation plans. Finally, we discuss various components of the compensation plan, and compare different approaches to these components within these six institutions.
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