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Comments on the dilemma in the May issue: ‘Financial incentives’
Author(s) -
Williams Duncan
Publication year - 2014
Publication title -
in practice
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.211
H-Index - 25
eISSN - 2042-7689
pISSN - 0263-841X
DOI - 10.1136/inp.g3486
Subject(s) - incentive , dilemma , reputation , welfare , promotion (chess) , public relations , business , public economics , conflict of interest , economics , finance , political science , law , microeconomics , market economy , philosophy , epistemology , politics
The dilemma in the May issue dealt with the appropriateness of financial incentives, based solely on turnover, due to the possible conflict of interest that could arise between a practice's finances and the welfare needs of patients (In Practice, May 2014, volume 36, pages 262‐263). David Main argued that although incentivising staff can seem like a legitimate management tool to encourage good performance, poorly designed incentives could lead to the promotion of unnecessary products and services, which could lead to a negative impact on patient welfare, as well as challenge the caring reputation of the profession. He suggested that the RCVS Practice Standards Scheme should prohibit performance‐related pay based on turnover, and that the profession should use an evidence‐based approach to investigate and advocate better incentive systems.