Improving Board Oversight, Mitigating Risks
As independent Consultants, our advisers counsel boards to comprehensively review and update practices and policies. Uniquely, our advisers support boards with not-for-profit and health care’s most robust compensation data, including SullivanCotter’s national, annual and highly detailed Survey of Manager and Executive Compensation in Hospitals and Health Systems. Our advisers also have access to the largest and most comprehensive physician compensation surveys available in the market.
Answering Tough Questions to Deliver Sound Strategies
By ensuring that boards answer today’s toughest compliance questions, SullivanCotter advisers develop governance strategies, policies and processes that demonstrate sound oversight aligned with all the demands a board must consider, from mission-driven values to regulatory compliance.
Among the tough questions we help your board ask and answer are the following:
- Are all executive and physician compensation practices, cash, incentives and benefits within market practices? If not, why?
- Are they consistent, documented and defensibly prudent across the enterprise?
- How do supplemental executive retirement plans and executive incentive compensation components align with broader strategies for retention? Again, are the criteria and decision processes documented and defensible?
- Are the physician compensation approaches and levels consistent with broader regulatory guidance, including Stark, anti-kickback and Office of Inspector General (OIG) opinions?
Answering these questions, crafting governance strategies that address them and documenting compliance are essential steps to mitigating emerging risks and limiting governance liability.
As never before, radical economic change mandates radical governance review. Revised strategies can position organizations for growth while ensuring comprehensive, sound fiscal oversight of all pay practices.