A Georgia-based medical school is seeking qualified vendors to provide strategic advisory services focused on faculty physician compensation and practice plan structures. The primary objective is to develop a comprehensive clinical compensation model that aligns incentives among clinicians, educators, and researchers, while supporting the recruitment and retention of high-quality faculty. The model must adhere to fair market value standards, comply with relevant regulations, and balance both academic and clinical productivity. Additionally, the vendor will be responsible for offering guidance on risk management and insurance considerations associated with different compensation models, ensuring all recommendations are in line with the University of Georgia's salary and wage administration guidelines.

The selected advisor will benchmark compensation practices against peer academic institutions, with particular emphasis on community-based medical schools. Deliverables include defining base salary benchmarks, designing variable bonus structures for productivity and quality, and developing a transparent, scalable methodology for faculty physician compensation. The vendor will also recommend performance metrics, administrative processes, and advise on the optimal structure and requirements for a future faculty practice plan.

Furthermore, the advisor will be tasked with proposing several models for establishing a faculty practice, outlining the advantages, disadvantages, financial considerations, and possible partnership opportunities with local healthcare organizations. An estimated cost analysis and resource requirements report for the exploration and implementation of various practice plan options, including standalone and integrated solutions, is also expected.