The objective of this paper is to identify an incentive plan that encourages an organizational culture that motivates employees and evaluates their performance. The paper will first identify and outline the type of business for which the plan is being developed. Second, performance metrics used to monitor employee performance will be outlined. Third, motivation strategies and techniques that appeal to employees will be discussed. Fourth, ways in which incentive compensation will be used to remain competitive within the industry will be reviewed. Finally, the paper will identify moral hazards affecting employees and the organization. Overview of the Organization The business model is an urgent care facility in a small community with an approximate …show more content…
The organization uses several metrics to monitor employee performance, but this section will focus on a few key metrics. The first metric is patient wait time, which calculates the average amount of time patients must wait between checking in and seeing a provider. A second metric is the average number of patient rooms being used at one time. This shows how well space is used to treat patients and helps determine if additional space is needed in the facility. Thirdly, bed or room turnover is used to determine how quickly patients are moving in and out of the facility. A fourth metric used is staff-to-patient ratios, which indicates the use and capacity of staff resources. Staff-to-patient ratios can impact the quality of patient care. Fifthly, mistake events, such as medication errors and equipment issues are documented and closely monitored and addressed. Additionally, insurance claims and denials, treatment charges, and other financial processes are used to gauge the effectiveness and efficiency of the billing process and employee performance. Lastly, overall patient satisfaction is calculated based on several factors, and any issues are addressed in a timely …show more content…
An active and productive workforce is critical for a competitive U.S. business (DiFonzo, 2014). Involvement creates commitment to the company and focus on what is important. In an emerging health care delivery model and an expanded role, there is a great need for developing structured compensation plans based on measurable criteria. It will have to be centered on employee performance and development. Urgent care centers are primarily run by physicians, and it is no secret there is a vast shortage of primary care specialties. According to the most recent analysis by the Association of American Medical Colleges, the nation is projected to face a shortage of as many as 94,700 physicians by the year 2025 (Stern, 2016). To meet growing needs, some urgent care centers are integrating more PAs and NPs to address the most concerns, at a lower cost than doctors. With that in mind, and the great demand for frontline internal medicine providers (MDs, PAs, and NPs), a great deal of recruitment and incentive compensation will be of utmost importance. To remain competitive in the industry, there needs to be some flexibility that is geared towards work-life balance, such as offering scheduling flexibility in the likes of weekends only, four-day weeks, and part-time