7 strategies to boost physician innovation by recognizing achievement

Physician employment contracts often lack any mention of rewarding physicians for innovation, according to Physician’s Money Digest. In order to maintain an innovation focus, organizations should consider clarifying the expectations surrounding innovation.

Here are seven strategies:

1. Offer a clear definition of innovation and outline your organization's strategies.

2. Decide how your organization will measure innovation.

3. Integrate innovation as a focal point of your organization's employee development, promotion and tenure process.

4. Identify how physicians want to be rewarded for their innovation, as it won't always be money.

5. Ensure transparency, clarifying intellectual property ownership complications and downstream revenue sharing agreements.

6. Establish an association between innovation benchmarks and the likelihood that excelling performers will receive awards.

7. Reward innovators within a reasonable timeframe of their performance.

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