Becoming partner

[SqEdSaint]

Hello!
Have come across some jobs that state employee may become eligible for partnership after 2-3 years. The perks are partners make more, work less, and have more vacations. But what exactly is a partner and what does a partner do? How many partners can a physician group have? Any downsides to being a partner?

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[deleted941485]

Hello!
Have come across some jobs that state employee may become eligible for partnership after 2-3 years. The perks are partners make more, work less, and have more vacations. But what exactly is a partner and what does a partner do? How many partners can a physician group have? Any downsides to being a partner?

Being a partner usually means you have a say in how the organization is run and you get a share of what is produced in the practice. It has its challenges and rewards. The upside is you reap the benefits of good sound bussiness decisions and increased productivity . The downside is that these days everybody is literally hell bent on killing these types of arrangements from your local “friendly” megamonopoly health system to the federal govt. True partnerships are rare now because almost everyone works for a health system now.

 

[deleted87716]

Our group works that way (although we use the term "shareholder" rather than "partner," as we're incorporated as a PC, not a partnership). Once you're a shareholder (after 1-3 years on guarantee), you're paid exclusively on productivity, and have a lot more freedom over your schedule. Typically, this means you make more money - but that depends upon on you. You also benefit from ancillary income, and can become vested in our bonus plan after a short time. You're also able to vote at shareholder meetings.

Some people who join us with established practices elect to come in at risk from day one, as they're already busy, and will make more money that way. They can become shareholders after 1 year.

 

[SqEdSaint]

Thank you for the explanation. Based on what your said, would you say that jobs with potential partnership down the road are more desirable than regular corporate positions?

 

[VA Hopeful Dr]

Thank you for the explanation. Based on what your said, would you say that jobs with potential partnership down the road are more desirable than regular corporate positions?

Potentially yes. It depends on the group in question, the buy in required, admin responsibilities, stuff like that.

 

[deleted87716]

Thank you for the explanation. Based on what your said, would you say that jobs with potential partnership down the road are more desirable than regular corporate positions?

In general, you're usually better off as an owner than an employee. However, both options have risks as well as benefits. I've been practicing in this model since leaving residency in 2001, and wouldn't do anything else. I'd go DPC before I'd work for a health system.