Bangor Family Physicians Case Study Essays - 4600 Words

Bangor Family Physicians Case Study Executive Summary amp; Stakeholders Bangor Family Physicians is a partner based medical group practice located in Maine. The practice consists of four family practice physicians, and a medical support staff. The medical support staff is made up of a practice manager, two receptionists, four nurses, two medical assistants, two billing clerks, and a laboratory technician. Additionally, Bangor Family Physicians employs a CPA to assist with taxes and financial advising. The key stakeholders are the four family physician partners, in which each physician holds an equal stake in the practice. Bangor Family Physicians Reimbursement There are two determinants to reimbursement for Bangor Family†¦show more content†¦Compensation Systems Compensation systems can take on many forms, all of which have positives and negatives related to it. However, certain components are noted to be determinants of solid compensation plans. One agreement of a solid compensation system is the use of incentives. â€Å"Clearly a successful companies set objectives that will provide incentives to increase profitability† (Needles amp; Powers, 2011). Incentive bonuses should be measures that the company finds important to long-term growth. According to Needles amp; Powers (2011) the most successful companies long term focused on profitability measures. For large for-profit firms, compensation programs should offer stock options. The interweaving between the market value of a company’s stock and company’s performance both motivate and increase compensation to employees As the market value of the stock goes up, the difference between the option price and the market price grows, which increases the amount of compensation† (Needles amp; Powers, 2011). Conclusively, a compensation plan should serve all stakeholders, be simple, group employees properly, reflect company culture and values, and be flexible (Davis amp; Hardy, 1999; The Basics of a Compensation Program). Four compensation models are laid out by the Bangor Family Physician case study. These models include: (1) revenue model; (2) net income model; (3) base salary plusShow MoreRelatedThe Tudor Temper : An Analysis On The Royal Mind2344 Words   |  10 PagesAn insight into the mental wellbeing of the Tudor Royal Family Daniella Smithers BA Hons Bangor University (History/Archaeology/ Heritage) The mind of a Royal can be the decimation or the making of a nation. Whether at the fore front or behind the curtains, it was a fierce time for both young and old alike, so being strong minded was vital. I intend this essay to set out to decipher documents to better comprehend how the Royal family thought during the 15th to the 16th century. Historians haveRead MoreThe Problem Of Elderly People2891 Words   |  12 Pages There are a number of population groups vulnerable to loneliness. However, elderly people are often more so targeted by loneliness which is owed to ‘loss of friends and family, loss of mobility or loss of income’.(Saito) Because of this, there has been an increased public concern on the issue of loneliness in senior populations. The statistics on population aging in developed countries are well known. Those aged 60 and above currently account for approximately 20 percent of the population in developedRead MoreMarketing Mistakes and Successes175322 Words   |  702 Pages1-800-CALL WILEY (225-5945). Library of Congress Cataloging in Publication Data Hartley, Robert F., 1927Marketing mistakes and successes/Robert F. Hartley. —11th ed. p. cm. Includes index. ISBN 978-0-470-16981-0 (pbk.) 1. Marketing—United States—Case studies. I. Title. HF5415.1.H37 2009 658.800973—dc22 2008040282 ISBN-13 978-0-470-16981-0 Printed in the United States of America 10 9 8 7 6 5 4 3 2 1 PREFACE Welcome to the 30th anniversary of Marketing Mistakes