- Joined
- Jan 22, 2017
- Messages
- 7
- Reaction score
- 0
I have been in a medium size podiatry practice (~6 dpms) with surgery center for almost one year now. I signed a contract for 100k base, 22.5% bonus after 275k in collections (not including DME). I was fairly slow in clinic my first 6 months of joining the group, but have been moderately busy these past 5 months. I also struggled getting on many insurance plans, and I'm still not on a few which has affected my surgical case load. My collections for this fiscal year is 319k (including DME). My bonus check for this year was ~$3,700. I signed a 1 year contract, so I will be renegotiating my contract next week.
My 1st year contract also included CME money $300, 10 vacation days, health insurance, malpractice, board fees, hospital fees, uniforms,etc. If I collect over 100k at our surgery center, by bonus increases from 22.5% to 27.5%.
My new contract that I will be renegotiating will be for 2 years. I really enjoy the group that I am with, they treat me well and they have made the transition from residency to private practice very easy. We take call every 6 weeks for a week straight, and it's very easy, rarely ever have to go in to the hospital. I start at 8:30am and I'm out the door everyday at 4:30 or 5pm latest. On my busy clinic days, I also have a personal scribe. They are also very transparent with my numbers throughout the year. Overall, I have very minimal stress, if it all, at work. When they hired me, I told them I wanted to make ~170k by year 2 and they said that is a reasonable goal. What is a good base salary and bonus structure for my upcoming 2-year contract?
I was going to ask for base of $125k, 30% bonus after 275,000 (not including DME), and 10% of surgery center collections, CME money to 2k.
2 of the docs in my group collect 750k, 1 collects 650k, 1 collects 550k, 1 is part-time and collected $400k.
I am anticipating in collecting 475k in year 2 with rate of my current collections per week the past few months.
My 1st year contract also included CME money $300, 10 vacation days, health insurance, malpractice, board fees, hospital fees, uniforms,etc. If I collect over 100k at our surgery center, by bonus increases from 22.5% to 27.5%.
My new contract that I will be renegotiating will be for 2 years. I really enjoy the group that I am with, they treat me well and they have made the transition from residency to private practice very easy. We take call every 6 weeks for a week straight, and it's very easy, rarely ever have to go in to the hospital. I start at 8:30am and I'm out the door everyday at 4:30 or 5pm latest. On my busy clinic days, I also have a personal scribe. They are also very transparent with my numbers throughout the year. Overall, I have very minimal stress, if it all, at work. When they hired me, I told them I wanted to make ~170k by year 2 and they said that is a reasonable goal. What is a good base salary and bonus structure for my upcoming 2-year contract?
I was going to ask for base of $125k, 30% bonus after 275,000 (not including DME), and 10% of surgery center collections, CME money to 2k.
2 of the docs in my group collect 750k, 1 collects 650k, 1 collects 550k, 1 is part-time and collected $400k.
I am anticipating in collecting 475k in year 2 with rate of my current collections per week the past few months.
Last edited: