DescriptionPrepare a 1,000-1,500 word APA-formatted paper.Include the following topics in your paper: Describe the purposes of compensation and compensation policy in health care. Distinguish between intrinsic reward and extrinsic reward and the value of each to employees. Explain the concept of balancing internal equity and external competiveness in compensation. Discuss the challenges faced in designing and implementing pay-for-performance plans.Include at least 5 references. Two of these references must be peer-reviewed references.Include APA-formatted citations to support all information included from outside resources.