The Kidney Care Choices (KCC) Model team hosted a Comprehensive Kidney Care Contracting (CKCC) Model Options finance webinar on Friday, November 22, 2019 from 12:00 p.m. - 1:00 p.m. EST.
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CMS Innovation Center
http://innovation.cms.gov
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This webinar focuses on the new financial policies featured in the ACO REACH webinar. For more information on the financial methodology for the ACO REACH Model that will be transitioned from the Global and Professional Direct Contracting (GPDC) Model, please refer to prior released financial webinars available on the GPDC Model webpage.
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CMS Innovation Center
http://innovation.cms.gov
We accept comments in the spirit of our comment policy:
http://newmedia.hhs.gov/standards/comment_policy.html
CMS Privacy Policy
http://cms.gov/About-CMS/Agency-Information/Aboutwebsite/Privacy-Policy.html
The Kidney Care Choices (KCC) Model team hosted a Comprehensive Kidney Care Contracting (CKCC) Model Options finance webinar on Friday, November 22, 2019 from 12:00 p.m. - 1:00 p.m. EST.
- - -
CMS Innovation Center
http://innovation.cms.gov
We accept comments in the spirit of our comment policy:
http://newmedia.hhs.gov/standards/comment_policy.html
CMS Privacy Policy
http://cms.gov/About-CMS/Agency-Information/Aboutwebsite/Privacy-Policy.html
This webinar focuses on the new financial policies featured in the ACO REACH webinar. For more information on the financial methodology for the ACO REACH Model that will be transitioned from the Global and Professional Direct Contracting (GPDC) Model, please refer to prior released financial webinars available on the GPDC Model webpage.
- - -
CMS Innovation Center
http://innovation.cms.gov
We accept comments in the spirit of our comment policy:
http://newmedia.hhs.gov/standards/comment_policy.html
CMS Privacy Policy
http://cms.gov/About-CMS/Agency-Information/Aboutwebsite/Privacy-Policy.html
The International Financial Reporting Standards 15 or IFRS 15 and ASC 606 are guidelines on revenue recognition issued by two key global financial regulators. This guidelines has a huge impact on how you account your team's sales commissions. View this guidebook to learn more about it.
The Direct Contracting Model Options team hosted office hours on February 11, 2020. During the session, the Direct Contracting Model Options team provided a brief review of key aspects of the financial model covered during the Payment Part 2 Webinar, such as its risk adjustment, benchmark methodologies, and quality measures. This session offered participants an opportunity to ask follow-up questions about these topics.
- - -
CMS Innovation Center
http://innovation.cms.gov
We accept comments in the spirit of our comment policy:
http://newmedia.hhs.gov/standards/comment_policy.html
CMS Privacy Policy
http://cms.gov/About-CMS/Agency-Information/Aboutwebsite/Privacy-Policy.html
Sales Compensation in SaaS Companies Annual Survey 2018Viola Group
The topic of salary compensation for sales professionals is a hotly debated one among SaaS companies, so to see how Israeli startups stack up against international benchmarks, we (Viola Ventures) surveyed some of our portfolio and non-portfolio companies about their sales compensation policies.
You can read the accompanying blog post here: http://www.viola-group.com/violanotes/sales-compensation-in-saas-companies-viola-ventures-annual-survey-2018/
The Center for Medicare & Medicaid Innovation (CMS Innovation Center) hosted an open door forum covering population based payments and all inclusive population based payments for the 2017 Next Generation Accountable Care Organization Model. The open door forum was held on Tuesday, April 26 from 4:00pm – 5:00pm EDT.
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CMS Innovation Center
http://innovation.cms.gov
We accept comments in the spirit of our comment policy:
http://newmedia.hhs.gov/standards/comment_policy.html
CMS Privacy Policy
http://cms.gov/About-CMS/Agency-Information/Aboutwebsite/Privacy-Policy.html
Simple Steps to Avoid the 7% MIPS Penalty for 2019Kareo
Join Marina Verdara, Kareo’s Sr. Training Specialist, as she provides you with simple steps to avoid the 7% MIPS penalty, including how you can check a clinician’s eligibility and where you can earn points for each category. She will also provide you with the resources to help you prepare for 2020.
Our 2020 Survey on Sales Compensation in Israeli SaaS Companies revealed valuable insights about both the matureness of the Israeli industry in the past two years as well as the the effects of COVID-19. We encourage the industry to use this survey as a sanity check tool for CEOs, CROs and CFOs to see where they stand vis-à-vis their peers.
With all of the changes going on in the pension world, pension plan sponsors want to better understand the recently updated mortality table and its impact for funding and accounting, further increases to PBGC premiums, extension of HATFA funding relief, and new granular accounting methodologies. This 45 minute Findley Davies recorded webinar will address the impact of these pension world changes on your organization as you make decisions for 2016.
In follow-up to the March 10, 2015 announcement of the Next Generation Accountable Care Organization (ACO) Model of payment and care delivery, the Center for Medicare and Medicaid Innovation (CMS Innovation Center) hosted the third in a series of open door forums on March 31, 2015 focusing on financial methodology and related issues.
- - -
CMS Innovation Center
http://innovation.cms.gov
We accept comments in the spirit of our comment policy:
http://newmedia.hhs.gov/standards/comment_policy.html
CMS Privacy Policy
http://cms.gov/About-CMS/Agency-Information/Aboutwebsite/Privacy-Policy.html
HFMA Colorado chapter newsletter, July 2016. While the Comprehensive Care for Joint Replacement (CJR) program is positioned as a “test,” given the infrastructure being put in place by CMS to run the program, CJR is likely just the start of a larger effort by CMS to implement additional mandatory bundled payment programs. Therefore, it’s very important that hospital financial stakeholders become familiar with CJR even if their hospital isn’t currently a participant.
MIPS APM for ACOs: A Hybrid Reimbursement ModelCitiusTech
CMS announced the Quality Payment Program (QPP) final rule in October 2017, stating how it plans to implement the clinician payment changes to QPP, mandated under the Medicare Access and CHIP Reauthorization (MACRA) act. The implementation of the MACRA act impacts different type of organizations, one such being the Accountable Care Organizations (ACOs). ACOs are evaluated for payments on the basis of quality care and the cost factors associated in achieving their quality goals. Post MACRA implementation, all clinicians will receive payments as per the MIPS (Merit based incentive payments) and Advanced APMs (Advanced alternative payment models). ACO’s can register as APM entities and are eligible to receive payments under Advanced APMs. There is a third category of APM entities which participate in Advanced APMs models but do not meet the threshold of payments and patients set by CMS. Such entities fall into a category that is straddling the line between APM and the MIPS track, called MIPS APM (partially qualifying APM participants). This document discusses about the reporting, scoring and payments for the MIPS APM entities
The CMS Innovation Center hosted a repeat of the Thursday, November 6 ACO Investment Model webinar on Tuesday, November 18, 2014, from 2:30pm-3:30pm EST. The webinar provided guidance on the ACO Investment Model (AIM) application to prospective ACO applicants. The webinar included a review of the model eligibility requirements and an explanation of each application question including the spend plan narrative and spreadsheet.
- - -
CMS Innovation Center
http://innovation.cms.gov
We accept comments in the spirit of our comment policy:
http://newmedia.hhs.gov/standards/comment_policy.html
CMS Privacy Policy
http://cms.gov/About-CMS/Agency-Information/Aboutwebsite/Privacy-Policy.html
More Related Content
Similar to 2024 Quarter Production Bonus for Unit Managers
The International Financial Reporting Standards 15 or IFRS 15 and ASC 606 are guidelines on revenue recognition issued by two key global financial regulators. This guidelines has a huge impact on how you account your team's sales commissions. View this guidebook to learn more about it.
The Direct Contracting Model Options team hosted office hours on February 11, 2020. During the session, the Direct Contracting Model Options team provided a brief review of key aspects of the financial model covered during the Payment Part 2 Webinar, such as its risk adjustment, benchmark methodologies, and quality measures. This session offered participants an opportunity to ask follow-up questions about these topics.
- - -
CMS Innovation Center
http://innovation.cms.gov
We accept comments in the spirit of our comment policy:
http://newmedia.hhs.gov/standards/comment_policy.html
CMS Privacy Policy
http://cms.gov/About-CMS/Agency-Information/Aboutwebsite/Privacy-Policy.html
Sales Compensation in SaaS Companies Annual Survey 2018Viola Group
The topic of salary compensation for sales professionals is a hotly debated one among SaaS companies, so to see how Israeli startups stack up against international benchmarks, we (Viola Ventures) surveyed some of our portfolio and non-portfolio companies about their sales compensation policies.
You can read the accompanying blog post here: http://www.viola-group.com/violanotes/sales-compensation-in-saas-companies-viola-ventures-annual-survey-2018/
The Center for Medicare & Medicaid Innovation (CMS Innovation Center) hosted an open door forum covering population based payments and all inclusive population based payments for the 2017 Next Generation Accountable Care Organization Model. The open door forum was held on Tuesday, April 26 from 4:00pm – 5:00pm EDT.
- - -
CMS Innovation Center
http://innovation.cms.gov
We accept comments in the spirit of our comment policy:
http://newmedia.hhs.gov/standards/comment_policy.html
CMS Privacy Policy
http://cms.gov/About-CMS/Agency-Information/Aboutwebsite/Privacy-Policy.html
Simple Steps to Avoid the 7% MIPS Penalty for 2019Kareo
Join Marina Verdara, Kareo’s Sr. Training Specialist, as she provides you with simple steps to avoid the 7% MIPS penalty, including how you can check a clinician’s eligibility and where you can earn points for each category. She will also provide you with the resources to help you prepare for 2020.
Our 2020 Survey on Sales Compensation in Israeli SaaS Companies revealed valuable insights about both the matureness of the Israeli industry in the past two years as well as the the effects of COVID-19. We encourage the industry to use this survey as a sanity check tool for CEOs, CROs and CFOs to see where they stand vis-à-vis their peers.
With all of the changes going on in the pension world, pension plan sponsors want to better understand the recently updated mortality table and its impact for funding and accounting, further increases to PBGC premiums, extension of HATFA funding relief, and new granular accounting methodologies. This 45 minute Findley Davies recorded webinar will address the impact of these pension world changes on your organization as you make decisions for 2016.
In follow-up to the March 10, 2015 announcement of the Next Generation Accountable Care Organization (ACO) Model of payment and care delivery, the Center for Medicare and Medicaid Innovation (CMS Innovation Center) hosted the third in a series of open door forums on March 31, 2015 focusing on financial methodology and related issues.
- - -
CMS Innovation Center
http://innovation.cms.gov
We accept comments in the spirit of our comment policy:
http://newmedia.hhs.gov/standards/comment_policy.html
CMS Privacy Policy
http://cms.gov/About-CMS/Agency-Information/Aboutwebsite/Privacy-Policy.html
HFMA Colorado chapter newsletter, July 2016. While the Comprehensive Care for Joint Replacement (CJR) program is positioned as a “test,” given the infrastructure being put in place by CMS to run the program, CJR is likely just the start of a larger effort by CMS to implement additional mandatory bundled payment programs. Therefore, it’s very important that hospital financial stakeholders become familiar with CJR even if their hospital isn’t currently a participant.
MIPS APM for ACOs: A Hybrid Reimbursement ModelCitiusTech
CMS announced the Quality Payment Program (QPP) final rule in October 2017, stating how it plans to implement the clinician payment changes to QPP, mandated under the Medicare Access and CHIP Reauthorization (MACRA) act. The implementation of the MACRA act impacts different type of organizations, one such being the Accountable Care Organizations (ACOs). ACOs are evaluated for payments on the basis of quality care and the cost factors associated in achieving their quality goals. Post MACRA implementation, all clinicians will receive payments as per the MIPS (Merit based incentive payments) and Advanced APMs (Advanced alternative payment models). ACO’s can register as APM entities and are eligible to receive payments under Advanced APMs. There is a third category of APM entities which participate in Advanced APMs models but do not meet the threshold of payments and patients set by CMS. Such entities fall into a category that is straddling the line between APM and the MIPS track, called MIPS APM (partially qualifying APM participants). This document discusses about the reporting, scoring and payments for the MIPS APM entities
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- - -
CMS Innovation Center
http://innovation.cms.gov
We accept comments in the spirit of our comment policy:
http://newmedia.hhs.gov/standards/comment_policy.html
CMS Privacy Policy
http://cms.gov/About-CMS/Agency-Information/Aboutwebsite/Privacy-Policy.html
Similar to 2024 Quarter Production Bonus for Unit Managers (20)
4. 2024 QPB for UMs
FYC Expenses Summary
• 30-50% of FYC is given to FC as allowance
• 15% to FBMs as override
• 5% to sales and marketing expense
• 5% to additional incentive expense
• the remaining amount is use as operation expense
5. 2024 QPB for UMs
5% Incentive Expense Breakdown
• 3.5% - FC PhP 6,440,000
• 1% - UM PhP1,840,000
• 0.5% - AM Ph P920,000
6. 2024 QPB for UMs
Outline
1. Objectives
2. Terms / Acronyms / Definitions / Formulae
3. Minimum Requirements
4. Computation of QPB
a. Percentage Points
b. Bonus Points
5. Other Rules
7. 2024 QPB for UMs
2024 QPB Objectives:
1. To surpass the following 2024 Minimum Requirements (MR)
a) First Year Allowances (FYA),
b) New Paid Lives (NPL) &
c) Retention Ratio (RR)
2. Increase the number of FCs submitting BCs through BC
Online App
8. 2024 QPB for UMs
Term 1: FYA Attainment
Acronym 1: FYAA
Definition: is defined as FYA Actual over FYA MR
Formula 1: 𝐅𝐘𝐀𝐀 =
𝐅𝐘𝐀 𝐀𝐜𝐭𝐮𝐚𝐥
𝐅𝐘𝐀 𝐌𝐑
12. 2024 QPB for UMs
Term 3: Retention Ratio
Acronym 3 : RR
Definition: It is computed as collected FYC (inforced BCs
only) over total FYC due on the RR covered
period.
Formula 3: 𝐑𝐑 =
𝐂𝐨𝐥𝐥𝐞𝐜𝐭𝐞𝐝 𝐅𝐘𝐂
𝐓𝐨𝐭𝐚𝐥 𝐅𝐘𝐂 𝐝𝐮𝐞
14. 2024 QPB for UMs
RR Covered Periods
Covered BCs
Quarter
Jan 2023 to Dec 2023
Q1
April 2023 to March 2024
Q2
July 2023 to June 2024
Q3
October 2023 to Sep 2024
Q4
15. 2024 QPB for UMs
RR Covered Periods
2024 Period Covered
Q1 Jan 2023 to Dec 2023
Q2 April 2023 to March 2024
Q3 July 2023 to June 2024
Q4 October 2023 to September 2024
16. 2024 QPB for UMs
Term 5: Percentage Points
Acronym 5 : PerP
Definition: is defined as the total attainment points of FYA,
NPL, RR and Bonus Points.
Formula: 𝐏𝐞𝐫𝐏 = 𝐅𝐘𝐀𝐀 + 𝐍𝐏𝐋𝐀 + 𝐑𝐑𝐀 + 𝐁𝐨𝐧𝐮𝐬 𝐏𝐭𝐬.
18. 2024 QPB for UMs
Term 6 : QPB Rate
Acronym 6 : QPBR
Definition: is the rate of QPB based on the total
Percentage Points (PerR) Table.
Formula 6 : Please refer to QPBR Table
19. 2024 QPB for UMs
QPBR Table
Example: 110% PerP = 7% QPBR
PerP 90% to < 100% 100% to < 110% 110% to < 120% >=120%
QPB Rate 5% 6% 7% 8%
20. 2024 QPB for UMs
Term 7 : Quarter Production Bonus
Acronym 7 : QPB
Definition: is computed as QPBR multiplied to the
actual FYA of New Business (NB)
Formula 7 : 𝐐𝐏𝐁 = 𝐐𝐏𝐁𝐑 ∗ 𝐅𝐂 𝐅𝐘𝐀
21. 2024 QPB for UMs
QPB Sample Computation
Formula 7 : QPB = QPBR X FC FYA NB
Example: QPB = 8% X 100,000
= PhP 8,000
22. 2024 QPB for UMs
Minimum Requirements
1. With Regular Status at the end of the Program Period (PP)
2. PhP 200,000.00 FV personal insurance coverage (PIC) OR PhP
500,000.00 FV family insurance coverage (FIC)
3. 120,000 FYA, 18 NPL and 85% RR
4. 1 NPL submitted through BC Online App
23. 2024 QPB for UMs
How to Compute for QPB?
1. Percentage Points (PerP)
Total
RR
NPL
FYA
Factors
100%
20%
40%
40%
Weighted Average (WA)
85%
18
120,000
Minimum Reqs
24. 2024 QPB for UMs
QPBR Table
Example: 120% PerP = 8% QPBR
PerP 90% to < 100% 100% to < 110% 110% to < 120% >=120%
QPB Rate 5% 6% 7% 8%
25. 2024 QPB for UMs
How to Compute QPB?
a. Percentage Points (PerP) – Sample Computation
Total
RR
NPL
FYA
Factors
85%
18 NPL / 18 NPL
120,000 / 120,000
Actual / MR
-
100% X 20%
100% X 40%
100% X 40%
PerP X WA
100%
20%
40%
40%
PerP per factors
26. 2024 QPB for UMs
How can I further
increase our PerP?
27. 2024 QPB for UMs
QPBR Table
Example: 110% PerP = 7% QPBR
PerP 90% to < 100% 100% to < 110% 110% to < 120% >=120%
QPB Rate 5% 6% 7% 8%
28. 2024 QPB for UMs
Other Bonuses
1. Excess Over Target
2. BC Online App
29. 2024 QPB for UMs
PerP Bonus from the excesses over MR of
1. FYA
2. NPL
3. RR
Excess Over MR Bonus
NO CAPPING
30. 2024 QPB for UMs
FYA PerP Bonus
FYA PerP = FYAA x WA
Comparison
With Excess Over MR
FYA PP = 120% X 40%
= 48%
Attained MR Only
FYA PP = 100% X 40%
= 40%
PhP 120K FYA only PhP144K FYA
31. 2024 QPB for UMs
NPL PerP Bonus
NPL PerP = NPLA x WA
Comparison
With Excess Over MR
FYA PP = 150% X 40%
= 60%
Attained MR Only
FYA PP = 100% X 40%
= 40%
18 NPL only 27 NPL
32. 2024 QPB for UMs
RR PerP Bonus
RR PerP = RRA x WA
Comparison
With Excess Over MR
FYA PP = 150% X 20%
= 30%
Attained MR Only
RR PerP = 100% X 20%
= 20%
100% RR only With advance FYC subsequent payment
33. 2024 QPB for UMs
Excess Over MR Bonus
PerP FYA NPL RR PerP
WA 40% 40% 20% 100%
Bonus +8% +20% +10% +38%
Total 48% 60% 30% 138%
34. 2024 QPB for UMs
BC Online App Bonus (10%)
Maximum of 10% bonus points on the number of BCs submitted through BC online
app. It is computed as BCs submitted through BC Online App over total BCs
submitted X 10%.
Formula: BC Online App Bonus =
𝐁𝐂𝐬 𝐒𝐮𝐛𝐦𝐢𝐭𝐭𝐞𝐝 𝐎𝐧𝐥𝐢𝐧𝐞
𝐓𝐨𝐭𝐚𝐥 𝐁𝐂𝐬 𝐒𝐮𝐛𝐦𝐢𝐭𝐭𝐞𝐝
𝐗 𝟏𝟎%
=
𝟏𝟐𝟎 𝐁𝐂𝐬
𝟏𝟐𝟎 𝐁𝐂𝐬
𝐗 𝟏𝟎%
= 𝟏𝟎𝟎% 𝐗 𝟏𝟎%
= 𝟏𝟎%
35. 2024 QPB for UMs
BC Online App Bonus
PerP FYA NPL RR PerP BC Online App Bonus Total
WA 40% 40% 20% 100% 10% 110%
36. 2024 QPB for UMs
QPB Bonus
PerP FYA NPL RR PerP
BC Online
App Bonus
WA 40% 40% 20% 100% 10%
Excess
Bonus
+8% +20% +10% +38% 148%
37. 2024 QPB for UMs
OTHER RULES
1. Qualified business includes all plans regardless of Face
Value (FV).
2. QPB runs quarterly from the first (1st) working day of January
2024 up to December 29, 2024
3. Release of QPB amount is every 15th working day after the
end of the quarter.
38. 2024 QPB for UMs
OTHER RULES
4. Only one (1) NPL is credited per BC Holder.
a. No multiple NPL credit based on face value
amount.
b. No repeated NPL credit per plan for BCs holders
with multiple new plans.
39. 2024 QPB for UMs
OTHER RULES
5. All FYA in 2024 is credited to this production bonus.
Including:
a. FYA of subsequent contributions (1-2 to 1-4) but
not the NPL count.
b. FYA of repeated new business from the same BC
holders but not the NPL count.
40. 2024 QPB for UMs
OTHER RULES
6. Advance payment of subsequent FYC (1-2 to1-4) due for next RR period is
credited to current RR attainment.
For example:
If the Unit already collected all expected subsequent FYC for the current RR
period and an FC convinced a BC holder to pay in advance contributions due for
next quarter/semester, FYC credit will be added to the computation of Unit RR
attainment (numerator). Similar to computation of FYA and NPL excess over
target, this serves as additional/bonus point for the UM.
41. 2024 QPB for UMs
OTHER RULES
7. FYA and NPL credits will be deducted from total qualified business
arising from death claims that were DENIED payment of benefits by
KCFAPI. Exclusions to this rule are SPEK and GIO (Guaranteed
Insurance Offer) death claims wherein the number of lives will be
credited. However, FYC and FYA on SPEK and GIO will be
deducted from all credits. Any adjustments discovered after the
awarding of this incentive program will be considered in the next
quarter/s awards.
42. 2024 QPB for UMs
OTHER RULES
8. New BC applications tagged as ‘FROM
SURRENDER’ will not be credited as
qualified business.
43. 2024 QPB for UMs
OTHER RULES
8.1 Scenario on BCs tagged as surrender:
An in-force BC was surrendered, and a new BC was bought during the
program period.
To illustrate:
A brother knight surrendered an in-force BC on January 2024 and
applied for a new BC on the month of December 2024. The new applied
BC will be tagged as ‘from surrender’ because the BC replacement on
the same life occurred in the same program period.
44. 2024 QPB for UMs
OTHER RULES
8.2. Scenario on BCs tagged as surrender:
It is not limited to the same BC holder but also extended to all BCs with the
same family client code.
To illustrate:
A brother knight applied for a new BC anytime during 2024 while his son
surrendered a BC within the same program period. The new BC application of
the brother knight will be tagged as ‘from surrender’ because the BC
replacement on the same family client code occurred in the same program
period
45. 2024 QPB for UMs
OTHER RULES
9. A qualifier must not have any derogatory record with
KCFAPI and/or the Order of the Knights of Columbus at any
time. He must also conduct himself with utmost
professionalism and be worthy of trust and confidence by
the Order of the Knights of Columbus and the KCFAPI.
46. 2024 QPB for UMs
OTHER RULES
10. The FBG Support shall oversee the changes and operation
of this sales incentive program. The Sales Incentive and
Awards Committee (SIAC), composed of Manager-FBG
Support, SM-FBG VisMin, SM-FBG Luzon and EVP, shall
render a decision on any written request or case filed in the
interpretation of any provision of all Incentive Programs for
Fraternal Counselors.
47. 2024 QPB for UMs
OTHER RULES
11. It is understood the criteria and condition of this
incentive and other incentive programs for the
year 2024 shall only be applied during the
program period and may be enhanced,
changed, or amended every year.