Yes, this is okay—provided these arrangements are memorialized in contracts or service agreements that demonstrate an actual service was provided in exchange for this compensation.
In so doing, it should be recognized that on-call physicians provide two services, first for the hospital by making themselves available to respond (standby service), and the second for the patient by consulting over the phone or coming in and providing direct care (clinical service).
Both of these services could be compensated or supplemented by the hospital; however, work with an experienced health care attorney to ensure that the hospital drafts these contracts and service agreements appropriately.