Common use of Value Based Incentive Compensation Clause in Contracts

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. Physicians will be eligible for Value Based Incentive (VBI) Compensation up to $20,000 (pro-rated based on a full- 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 ED Provider Resource Committee to obtain input from ED Provider representatives 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.