Merit Raises
I'm preparing to do performance evaluations. What does the merit increase percentage look like for our industry in 2006?
Question: I'm preparing to do performance evaluations. What does the merit increase percentage look like for our industry in 2006?
Answer: The short answer is up to 5 percent with 3 percent more common.
But I would add that more practices are creating ranges for each position.
For example, nurses can get 2 percent to 5 percent based on performance in three particular areas of your choosing - say, attendance, clinical quality, and longevity.
Some are even creating tiered positions, like government offices do, so if you get a "promotion" from a level 1 to level 2 radiology tech, it comes with a set salary increase.
Still others, instead of giving a percent of a person's salary, set aside a percentage of the practice's profit at year-end and divide that based on pre-set performance measures.
Billing Strategies to Beat Staffing Shortages
March 19th 2025Managing payment postings, claims, and denials can feel overwhelming, especially when practices have staffing challenges. Without the right resources, these challenges often lead to delayed revenue, increased denials, and overburdened teams. Explore strategies and solutions to help practices stay on top of their billing workflows and optimize their revenue cycle needs with Veradigm Revenue Cycle Services.
