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Nonqualified benefit programs help recruit and retain physicians.

M E Nolan1

  • 1Todd Organization, Washington, DC.

Healthcare Financial Management : Journal of the Healthcare Financial Management Association
|November 4, 1994
PubMed
Summary
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Healthcare reform necessitates new strategies for physician retention. Nonqualified retirement plans offer a valuable tool for healthcare organizations to supplement traditional benefits and secure financial futures.

Area of Science:

  • Healthcare Management
  • Financial Planning
  • Physician Compensation

Background:

  • Healthcare reforms, mergers, and managed care are prompting physicians to re-evaluate hospital affiliations.
  • Traditional retirement benefits are insufficient for attracting and retaining physicians in the current healthcare landscape.
  • Tax legislation changes have increased the importance of nonqualified retirement plans.

Purpose of the Study:

  • To examine nonqualified retirement plans within the healthcare sector.
  • To explore how healthcare organizations can utilize these plans to supplement qualified benefits.
  • To assess the role of nonqualified plans in physician recruitment and retention.

Main Methods:

  • Literature review of retirement plans and healthcare compensation strategies.

Related Experiment Videos

  • Analysis of tax legislation impacting nonqualified plans.
  • Case study examples (implied) of healthcare organizations using nonqualified plans.

    • Main Results:

    • Nonqualified retirement plans are crucial for attracting and retaining physicians.
    • These plans can effectively supplement traditional qualified retirement benefits.
    • The strategy is applicable to other high-salaried healthcare professionals.

    Conclusions:

    • Healthcare organizations must adapt their compensation packages.
    • Nonqualified retirement plans are a key component for physician retention and financial security.
    • Implementing these plans can enhance an organization's ability to secure top talent.