RVU Compensation and Marketing

As a physician, if your contract is based upon an RVU compensation model, digital marketing is something you most likely want to consider making an investment in.

The advantage of having an RVU compensation model is obviously the financial upside. In essence, with this compensation model, the harder you’re willing to work, the higher your compensation.

Given the tremendous upside, making the right investment into marketing can accelerate the growth of your practice.

RVU Compensation Should Generate a Different Mindset Towards Marketing

Having an RVU compensation model in place is something that should create a mindset of an owner or entrepreneur, not of an employee (even if you are employed by a healthcare system.)

Generally speaking, employees have the mindset of collecting a paycheck and going home. Entrepreneurs/owners have the mindset of growing the business and, therefore, are willing to take on more risk and responsibility.

When you’re compensated based upon RVU’s, to some extent, you control your own destiny and earning potential. In that way, marketing can become one of your most significant investments, and not an expense.

A Built-In Advantage Over Salary Only Physicians

One of the biggest complaints I hear, especially from hospital-employed physicians, is that they often do not feel that they are well represented from a marketing standpoint. This is true of both salaried physicians, and those who are compensated based upon RVU’s.

Frankly, this creates a pretty wide-open marketing opportunity.

The physicians who compensated only by salary won’t take on the initiative or investment to market themselves. And why would they? They have no further upside.

That reality alone eliminates a great deal of competition and creates a marketing advantage for those who have the incentive to maximize their earning potential.

Calculate the Upside

In considering marketing plans and programs, let me encourage you to take a moment to do some initial calculations to determine what your realistic financial upside is.

Additionally, how would a strategic marketing plan help you attract the patients you desire to see and help? And how might that help improve your job satisfaction and quality of life?

In light of the financial upside that comes with RVU-based compensation, is there anything that’s holding you back from investing in marketing?

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