Small edit to the General's post. Contracted physician group can mean two very different things. EmCare and TeamHealth are contract management companies. Contract management companies own the contract with the hospital, and at the end of the day, you work for that corporation.
Privately held ED groups are very different. They own the contract with the hospital, and manage/run their own practice. These groups typically have higher compensation, more room for advancement, and occupationally true partnership opportunities. Some even offer equity ownership.
You're kidding yourself. You're a de facto employee of the hospital in either setting. I honestly think the differences are moot in this day an age. If admin wants you to jump, roll over, do a back flip, admit more patients, kick out more non-urgents, work harder or faster, they will find a way to make you do it regardless of who it say employs you on your tax return. If you don't jump, they'll fire you and your group.
End result: you will absolutely be treated like any true employee, or CMG employee, even if you're a partner in a SDG. To the extent that you refuse to "play" you and your group will be dumped and your only recourse will be to be hired back by the new CMG/hospital employed job, or be jobless. Best case scenario is they hold the threat of termination over your head until your SDG ultimately does lose it's contract.
I really think it makes little difference currently in a Emergency Medicine, what practice setting you're in. Either way, within 10-15 years SDGs will be on the endangered species list. For every example of a SDG taking a contract from a CMG, I'll show you 10 examples of CMGs taking contract from SDGs.
If I posted links about every CMG that kicked out an SDGs, I'd have no time for anything else. Here's one just the other day (linked from
www.DrWhitecoat.com), where a group that held an ED contract for
50 years, and still got forced out:
http://www.kansas.com/2014/06/10/3501004/wesley-tells-emergency-room-physicians.html
(Very interesting comments below the article, by the way.)