Incentives May Lead to Greater Support for Practice Goals
Employees may be more motivated with frequent financial incentives
MONDAY, June 9, 2014 (HealthDay News) -- Incentives may aid employees in meeting practice goals, according to an article published May 23 in Medical Economics.
The author of the article, Judy Bee, a medical practice consultant from the Practice Performance Group in La Jolla, Calif., identifies five tips to set up an incentive plan tied to measurable practice goals.
Bee's recommendations are: (1) establish a bonus pool for increasing the number of new practice patients; (2) offer paid time off; (3) instead of forcing group activities, distribute the cash; (4) make bonus distribution more frequent, possibly monthly or quarterly; and (5) use a bonus plan template that elucidates benchmarks for patient-generated revenue triggers.
"If you want more than just a 'good job' from your employees, an incentive plan may help," Bee writes.