New Faculty Compensation Plan

Considerable work has been underway for the development of a new faculty compensation plan. Sponsored by the Dean of the Medical College, Dr. Peter Buckley and led by the Faculty Compensation Plan Committee with broad physician representation and chaired by Dr. Stil Kountakis, this important effort is designed to create an equitable, effective and contemporary faculty compensation plan. The Compensation Plan Committee is being thoughtful in its review to ensure equitability as well as to ensure that our educational and research missions are not negatively affected and that our faculty can fully pursue their academic career development. The plan is not a salary reduction plan and it is being crafted to provide physicians with additional compensation as a result of their clinical productivity in excess of established benchmarks. The goal is to implement the new plan in the upcoming academic year. The plan will be fully vetted before implementation and there will be a grace period before the full result of the plan is implemented. As a faculty practice that has been late in the game to adopt a more contemporary compensation strategy, we have the benefit of learning from many other academic centers that already have physician compensation plans in place. The Compensation Plan Committee will continue to provide details of the process and the plan as details become available. In the meantime, for questions or concerns please contact your department chair, administrative director or any member of the physician-led Compensation Plan Committee.