In 2017, CG Health Partners will launch the first productivity and compensation study designed exclusively for cardiothoracic surgeons in the United States. Our goal is to provide relevant, timely and reliable information to cardiac and thoracic surgeons to define their true professional value.
As fewer cardiothoracic surgeons practice independently, compensation levels derive largely from historical national or regional market data. This market method of valuation has the advantage of convenience but significant limitations compared to more specific and rigorous methods of practice or physician valuation. Reasonably using market data for compensation decisions requires a valid study design with an adequately powered sample free from bias. We believe that most commercially available productivity and compensation reports fail their purpose for such errors. Specifically, we believe that low participation rates and sample bias artificially skew compensation and productivity data toward the lower end. More concerning, this phenomenon would tend to have a progressively downward pressure on earnings year after year.
Further, there is little debate that physician compensation will change as the country moves from fee for service to some form of population health. In the near future, Accountable Care Organizations, Clinically Integrated Networks and bundled payment initiatives will force health care delivery systems to rationalize the value provided by each stakeholder to divide a fixed payment. Given the inherent difficulty of quantifying the value each type of physician provides within a network, the starting point for these discussions will likely be historical compensation levels. Accurate market data will confer an advantage in this discussion as primary care and specialist physicians define their relative value.
Participation in the CG Health Partners Cardiothoracic Surgery Productivity and Compensation Survey (CGHP P&C Study) entitles the user to access descriptive statistical reports of the data collected free of charge. Additionally, the CG Health Partners proprietary, on line data analysis tool optionally provides users the ability to compare data elements along chosen variables to benchmark against the most relevant reference group. This powerful tool has the potential to redefine how fair market value and commercial reasonableness are calculated for the benefit of participating physicians.
By submitting your email at the STS 53rd Annual Meeting or through the CGHP website at www.cghealthpartners.com, you will receive an invitation to participate in this inaugural market research study. To learn more about our participant/data blinding process, our industry leading data security or to answer specific questions, please contact us at (315) 766.2121 or (872) 216.7715.
Randall Green, MD, JD, MBA