Value Based Incentive Compensation Sample Clauses
Value Based Incentive Compensation. Physicians will be eligible for Value Based Incentive (VBI) Compensation up to $20,000 (pro-rated based on a full- time clinical FTE (defined as 1560 scheduled work hours) and partial-year status) on an annual basis if physicians satisfy certain criteria established by the Medical Center, which will be based on industry and professional standards for quality incentives. The Medical Center will discuss any proposed changes to annual VBI criteria with the Emergency Medicine Provider Resource Committee to obtain input from ED Provider representatives who will make suggestions about at least two of the annual criteria, which will be based on industry and professional standards for quality incentives. The Medical Center, in its sole judgement, shall determine physicians’ performance and satisfaction of the VBI criteria; any such determination is final and not subject to the grievance and arbitration process set forth in this Agreement. VBI compensation shall be evaluated and paid out on an annual basis, no later than ninety (90) days after the incentive data has become available. In addition, to be eligible for VBI compensation, the physician must be employed on the date the payment is scheduled to occur. Physicians who resign or are terminated before the date of payment will not be eligible.
Value Based Incentive Compensation. OB-GYN with DOD 30 Physicians and Gyn-only Physicians will be eligible for Value 31 Based Incentive (VBI) Compensation up to twenty thousand 32 dollars ($20,000) (FTE adjusted) on an annual basis if 33 physicians satisfy certain criteria established by the Clinic. Any 1 changes to incentive criteria will be discussed at the Clinic 2 Resource Committee. If the Committee cannot agree on the 3 proposed changes, the dispute will be escalated to the Chief 4 Executive of PMG-OR, who will consider the recommendations 5 from the provider and Clinic-appointed members of the 6 Committee and make a final decision. The Clinic, in its sole 7 judgement, shall determine physicians’ performance and 8 satisfaction of the VBI criteria; grievances about this issue 9 shall not be subject to arbitration. VBI compensation shall be 10 evaluated and paid out on a quarterly basis, no later than 11 ninety (90) days after the incentive data has become available. 12 In addition, to be eligible for VBI compensation, the physician 13 must be employed on the date the payment is scheduled to
Value Based Incentive Compensation. Physicians will be eligible for Value Based Incentive Compensation up to $20,000 (FTE adjusted) on an annual basis if physicians satisfy certain criteria established by the Clinic. The Clinic, in its sole judgement, shall determine physicians’ performance and satisfaction of the VBI criteria; any such determination is final and not subject to the grievance and arbitration process set forth in this Agreement. VBI compensation shall be evaluated and paid out on a quarterly basis, no later than ninety (90) days after the incentive data has become available. In addition, to be eligible for VBI compensation, the physician must be employed on the date the payment is scheduled to occur. Physicians who resign or are terminated before the date of payment will not be eligible.