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Marketing Incentive

Incentive Compensation for Marketing %

The approximate amount of Incentive pay that the marketing department receives such as bonuses based on dollars raised.

A leader has enough self-confidence that incentive pay doesn't bother them. If a real leader can grow a business and create profits, should being paid for performance be a problem?

There is another long-term aspect of Model planning that must be anticipated regarding profit. This aspect is incentive compensation. The Model inherently lends itself to incentive compensation. Here is our advice:

When establishing the initial Model, make sure you set the profit goal high enough. If you don't, it will come back to haunt you when you try to tie it to compensation!

The Model can be used for incentive compensation for both departmental and individual performance, as well as overall Hospice financial performance - simultaneously! Therefore, the Model can be a sensitive area that must be planned as well as possible before implementation.

Establish incentive pay system for Marketing Staff based on the Number of Admissions Per Week. Set base salary at 50-75% of the market rate. The remaining pay should come as a percentage of salary based on meeting admissions goals.

If a marketing person does not want to work in an incentive based program, they have little faith in their abilities and are not qualified for the position.

Multi-Pedia

ADC Average Length of Stay Benefits Percent Caseload Expectations Computed Caseloads Crisis Care Percent Served Days Cash on Hand Days in AP Days in AR Debt to Equity Development to Return Ratio Development Signature Programs Direct Labor % of All Labor Direct Labor NPR Direct Labor PD Direct Patient Related Expenses NPR Direct Patient Related Expenses PD Facility Mix Percentage Facility Related Facility Team Patient Days Percent Indirect Labor Marketing Incentive Median Length of Stay Mileage Rate Net Operational Income Net Revenue PD Operational Costs Organizational Net Income % of Hospice Homecare Net Revenue Revenue to Payroll Dollar Segment Indirect Percent Net Revenue Segment Net Income The Role of Financial Reserves Total Indirect Volunteer Level of Activity What is Net Patient Revenue What is The Model