Anesthesia financial setup

[Metalblade]

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For you experienced guys out there, what are the different ways anesthesia groups are set up? The place where I'm at, the group gets a stipend from the hospital and no one is on a partnership track. Do most groups get stipends? If they do, then do their collections go to the hospital or do they get to keep them? In the case of a partnership track, does that mean that a greater portion of the stipend goes to the partners?

 

[kmurp]

Sounds like the group is employed by the hospital. I do not know if most groups get financial support from the hospital. I would speculate that this is something that is declining but that's just my opinion. Collections go to the hospital, I imagine, in a hospital employment model. As to how the financial support from the hospital is divided in private practice; I imagine it depends on the group. If you are an employed physician (by the group) it may be used to support your salary/benefits.

 

[Oggg]

my group gets a stipend. we add it to our group's monthly collections, give each partner a little bonus, then divide it up based on how much each person worked. All the partners get to see the books. Only one FTE (2 ppl) is non-partner and doesn't get to see the books.

The ugly version that I've seen is: 1-3 MDs are partners and hold the exclusive contract with the hospital. The hospital gives a stipend but the amount is secret (maybe they say it's $0). The managing partners tell the rest of the group that the stipend is being split equally, but there's no way to tell if the managing partners are pocketing 90% of the stipend before distributing it.

 

[periopdoc]

Everyone is a W-2 employee for their first year. They then become a K1 partner. Books are open all the way around. I know exactly what each of the partners and the other employees made in every month since I joined the practice, as that data is emailed to me every month. I have full access to "the books" if I should so desire.

We divide our practice income equitably by the number of time based units billed and 50% of base and procedural units (the other 50% is added to the overall income and divided equally among the partners and employees). We also get a stipend for the days and nights when we are on call or providing other services. We also give a very small additional stipend to our corporate officers (it isn't enough for the extra crap that they have to do IMHO.)

We do get a small stipend from the hospital for providing call coverage, ob coverage, and for providing a daily anesthesia/ OR coordinator to ensure things run smoothly.

Every month our accountant sends us the monthly reports so we can all see where the money is going and why.


There are a million different ways to structure how you pay yourself. The best paying job I looked at had a modest base salary that was public knowledge. Two levels of corporate bonuses were payed out monthly in such a way as to minimize the overall tax burden. Only the partners knew about the existence of these bonuses. That practice was a money-making machine and I would have joined if my dream job didn't open shortly before I had to make a decision on that job. The position was snapped up within a week of my turning it down.

- pod

 

[pgg]

We also give a very small additional stipend to our corporate officers (it isn't enough for the extra crap that they have to do IMHO.)

One of the things I've gradually clued into in the last couple years is just how important it is for a group to have at least one smooth-talking, sociable, interested-in-administration anesthesiologist with time blocked off for those duties, and no hit to their income for being out of the OR.

This is something I'll be looking for when I go find a permanent group, if I don't just stay here. I don't want those duties myself, I'd rather give myself a bunch of paper cuts and pour lemon juice on them, but that kind of thing seems important for long term group stability.