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Assumptions: ✔ Physician Base Compensation $257,000 ✓ Physician Fringe Benefits Rate 16.28% ✓ Continuing Medical Education $ Above Threshold $400 ✔ Malpractice Insurance Cost $30,207 ✓ Veteran's Administration Contract Revenue ($69,960) (Madinal Student Tanahing Rouanu

Assumptions: ✔ Physician Base Compensation $257,000 ✓ Physician Fringe Benefits Rate 16.28% ✓ Continuing Medical Education $ Above Threshold $400 ✔ Malpractice Insurance Cost $30,207 ✓ Veteran's Administration Contract Revenue ($69,960) (Madinal Student Tanahing Rouanu

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Assumptions: ✓ Physician Base Compensation $257,000 ✔ Physician Fringe Benefits Rate 16.28% ✓ Continuing Medical Education $ Above Threshold $400 ✔ Malpractice Insurance Cost $30,207 ✓ Veteran's Administration Contract Revenue ($69,960) ✓ Medical Student Teaching Revenue ($2,211) ✔Net Patient Revenue Per wRVU per wRVU Consider the assumptions above and answer the following questions. $66.88 1. What should the physicians wRVU benchmark/target be such that you can be assured that his or her reimbursement will cover his or her costs before being awarded any volume-based incentive dollars? 2. If the physician exceeds his or her wRVU benchmark/target as calculated above, what rate do you think the physician should be paid per wRVU earned above the benchmark/target? Explain, why you chose that payout rate.
Transcribed Image Text:Assumptions: ✓ Physician Base Compensation $257,000 ✔ Physician Fringe Benefits Rate 16.28% ✓ Continuing Medical Education $ Above Threshold $400 ✔ Malpractice Insurance Cost $30,207 ✓ Veteran's Administration Contract Revenue ($69,960) ✓ Medical Student Teaching Revenue ($2,211) ✔Net Patient Revenue Per wRVU per wRVU Consider the assumptions above and answer the following questions. $66.88 1. What should the physicians wRVU benchmark/target be such that you can be assured that his or her reimbursement will cover his or her costs before being awarded any volume-based incentive dollars? 2. If the physician exceeds his or her wRVU benchmark/target as calculated above, what rate do you think the physician should be paid per wRVU earned above the benchmark/target? Explain, why you chose that payout rate.
Expert Solution
Step 1: Introduction.

To calculate the physician's wRVU benchmark/target and the rate for payment above the benchmark/target, we need to consider the information provided:

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