Hospital compensation programs: a plan to attract and retain qualified managerial talent.

Hospital incentive compensation programs by themselves certainly are no guarantee of a hospital's economic success. Implemented poorly and without a comprehensive, well-considered plan design, these programs only will subvert a hospital's short-term and long-range objectives. Conversely, a flexible and thoughtful incentive compensation program can help attract and retain qualified managerial talent. In addition, it can help the hospital enhance its financial achievement without sacrificing the complementary goals of high-quality patient care and service to the community.