Employee Incentives In Healthcare

“Incentives are the cornerstone of modern life”(Levitt and Dubner 12). Levitt and Dubner once mentioned in their book “Freakonomics”. According to Oxford dictionary, incentives are something tends to incite to action or greater effort, as a reward offered for increased productivity (“incentives”). In business field, incentives are something given by bosses to encourage their employees to endeavour in bringing benefits to their business. For a simple example, the employee who hits the monthly or year sales target will get cash or prizes as incentives. Apparently, these incentives are something that motivates employees maintains their great performance and also to motivate other employee, whoever wants to get the incentives, work harder.

It is essential for an administrator to understand how private and government payers impact actual reimbursement. Government payers have a standardized benefit structure. The one benefit is that registration staff have an easier time calculating payment due (copayments) for service and can set up payment arrangements. Since the most significant proportion of funds coming into a healthcare organization is usually payments from third-party payers, therefore, it is critical to know how each reimbursement affect the others that come in. Healthcare organization may have hundreds of different payer’s relationships in the form of different contracts that have their own rates of payment that are usually different from other payers for an identical

The employee total compensation program in Aflac is competitive with the industry market for the employees (Reed, 2009, p. 3). First, the company has a program referred to as a “Total rewards program” for the employees of this organization (p. 3). Next, the focus of the Aflac organization derives from the importance of employees through communication (p. 3). To illustrate, the company’s benefits include compensation, such as life insurance paid for by Aflac, policy for cancer paid for by Aflac, insurance for protecting accidents at a low premium for employees, and programs that provides bonuses based on profit-sharing (pp. 4,6). In addition, the organization provides a

Currently, the Alvin C. York VA Medical Center utilizes a poorly implemented and poorly designed incentive program. The current inventive program rewards the majority of employees solely based on a yearly evaluation. The terms of the evaluation are set by human resources employees including the criteria for what constitutes an adequate performance level. Ideally, this evaluation rating system should be developed by individual supervisors so that departmental and unit goals can be effectively achieved. After all, the purpose of an organization exists to reach the organizations goals (Nassar, 2007). There are some general incentives that appear to be effective incentives for acute care nurses. These general incentives include providing adequate

Review of the literature identifies the issue of fair pay for similar work has been an issue for some time. According to Grey (2013, par. 7) the pay parity for NP and PA became an issue when two insurance carriers dropped reimbursing rates for NP and PA by 50%. On March 1. 2013 NP and Physician Assistants (PA) who run private practices reported they were struggling to maintain their business because of the lower rates paid by insurers (Grey, 2013, par. 8). Mccarger (2017, p. 15) discusses how payment parity is strongly opposed by medicine, and is primarily historical in nature. Advanced practice nurses still need to justify their value in a historically hierarchical framework of health care where the physician is the chief authority

I agree with your viewpoints, and I think that giving employees raises is an incentive to work harder. While bonuses in the workplace are dwindling, I also agree that thanking employees with a bonus can motivate them to perform better. Personally, I think that research and development companies offer some of the greatest forms of compensation to employees, beyond an actual paycheck. From my experiences with retail, there really isn’t any additional compensation beyond the hourly wage, depending on the company. I like the point that your brought up about Publix, because I also have friends who work and invest with the company, and it’s a nice

Employer sponsored health insurance is a health policy chosen and purchased by the employer and is provided to qualified employees and their families. Employers usually shares the insurance premium with employers. Employee based health insurance started early as 1910. Before World War II, only a few Americans had health insurance, but it only covered the hospital room, board, and ancillary services. During the war, more employee-based health insurances were being given to employees due to frozen wages by the National War Labor Board worker shortage. Employers were figuring out a way to attract employees to work and stay in their company, which meant that providing health insurance was the best option. Offering health insurance drew

The Affordable Health Care Act (ACA) ensures that all employees of employers with 50 or more employees have access to health insurance through their employers. It requires employers to provide health insurance that covers at least 60 percent of the cost of covered services and at no greater cost to the employer than 9.5 percent of annual family income. In addition, the ACA entitles employees to coverage for "essential health benefits" as defined by individual states and that typically include emergency services, hospital and physician services, maternity care, prescription drugs, and preventive care.

The impact that the incentives in health care, readmission in care delivery, and the role of Electronic Health Records are still being investigated. While some Americans feel that the ACA has not helped them, it has in fact, has an increase in savings by offering incentive programs.

Jones Plastic and Engineering is definitely lacking when it comes to incentives. One of the incentives that they do offer is a reward for attendance. In order to receive this incentive, an employee cannot miss a day of work for a quarter or a four-month period, if an employee does this, Jones Plastic and Engineering will give them eight hours of straight pay on their check. Since I have been employed at Jones Plastic I have been pushing for a better reward system. In the workforce that I am involved with very few people ever make it four months without missing a day of work. Jones Plastic does not offer sick time, so when an employee is sick it counts against their attendance.

There are great health care benefit programs for employees in most organizations. However, the age limitations are causing serious concerns when it comes to mental care for dependent adults over the age of 26. This needs to change, as mentally ill patients over the age of 26 are left without healthcare insurance; which is never a good thing. Mentally challenged individuals deserve to be protected and covered as dependents under their caregiver’s insurance plans as long as they live. The term dependent should not be restricted to an age, but rather be a term that defines the individual who is unable to provide for themselves due to some mental disorder. Therefore, if organizations change their policies and include the mentally ill as a dependent regardless of age, then, it is likely for economies to see declining crime rates, less cost to taxpayers for essential services, and better overall rehab facilities.

1. Incentive compensation is a major practice that has continually been adopted by healthcare organizations, especially for managers. Most of these organizations use this tool as a means of rewarding employees financial for outstanding performance. Generally, incentive compensation involves the use of monetary reward for managers to attain specific established goals. Therefore, incentive compensation can be a motivational tool that benefits health care managers and the entire organization because it enables managers to achieve greater compensation while promoting organizational productivity. As the Chief Executive Officer of a hospital, I would design an incentive compensation program for my management team by aligning the financial rewards with business objectives and people costs. This will involve the use of a comprehensive approach that examines basic pay, health benefits, incentive opportunities, and retirement programs. The alignment of the compensation program is geared towards promoting organizational productivity and employee motivation.

To motivate employees to work towards reaching organizational goals, managers frequently depend on some form of enticement. Beyond monetary compensation, awards and additional types of acknowledgment can be given, and the ability to choose a work schedule is a possibility. A reasonable pay system, which would be an incentive for individuals and groups to achieve organizational goals, is a hardship manager’s face (Jones & George, 2011). Within the company that I work for, every quarter awards are presented to Customer Service Agents who have maintained a 95 percent or above quality score. Monetary awards are given out as well as time off coupons.

The organization for which I am designing the compensation package is a company that offers internet solution to customers in the domestic US market and the global market. The position that I am hiring is that of a company secretary. The secretary will be required to work in the office of the human resource manager and will handle all the papered and paperless documentation. The position comes with numerous benefits and packages as outlined herein.

Today, competition between the businesses is extremely high thus companies need to find ways to be competitive. Organizations prepare the best market strategy to increase the company performance and the ways to keep their employee motivation on the highest level to perform well within the competition. At that time, several incentive pay programs play an important role for every organization to perform well within the competition.