Hello All:
My wife is finishing up her PM&R and currently doing job hunting for general outpt physiatry in the same area where I'm going to be practicing interventional pain. She has come across a job offer in a different practice that doesn't compete with my clinic in terms of patient population. During my interviews, I was only exposed to interventional pain contracts and so I'm not sure if her contract offer for 'general outpt physiatry' is a decent one or not. So, I was wondering if the seniors on the forum could give their input on this one:
This is a very busy place with a lot of referrals with already one PM&R doc and looking to hire a second one (my wife). The area is an under-served area for general physiatry (post-stroke, MS, TBI, SCI, and other rehab related issues) as well as non-interventional MSK issues. This practice is part of a physical therapy place that gets referrals for physical therapy from lot of PCP's in the area. Those patients that need physiatry services get referred to the PM&R doc internally. PCP's appreciate this and it seems to be a growing trend in this area. Practice mix includes general MSK, Spine, stroke, Spasticity and other bread-and-butter rehab problems.
Coming to the contract, Initial contract length is 2 years. There are NCS/EMGs, trigger points, blind joint injections, and so on. The practice is open to expanding to anything my wife wants to practice. For example, Spasticity clinic. The compensation structure is base + productivity bonus. First year base is guaranteed $125K + (50% bonus of anything over 250K). Second year base is guaranteed $138K + (50% bonus of anything over 275K). No negative carry-over to next year if her collections are below her base. Based on their past experience, practice told my wife that previous physicians have hit in excess of 200K yearly of base+bonus. She has not looked at their books yet to confirm this.
What do you guys think about this structure?
Is the base too low?
Is the bonus percentage appropriate?
Any other details that she needs to look into before taking this contract seriously?
Her only other option in the area is to join an acute rehab hospital as an independant contractor where she has to provide everything on her own (malpractice, billing, and so on) and be on call 24/7 for her own patients. From what she heard, the admissions are not split between physicians in a fair way as the seniors physiatrists try to take more.
Any thoughts??? Thank you very much for your help...
-ML
My wife is finishing up her PM&R and currently doing job hunting for general outpt physiatry in the same area where I'm going to be practicing interventional pain. She has come across a job offer in a different practice that doesn't compete with my clinic in terms of patient population. During my interviews, I was only exposed to interventional pain contracts and so I'm not sure if her contract offer for 'general outpt physiatry' is a decent one or not. So, I was wondering if the seniors on the forum could give their input on this one:
This is a very busy place with a lot of referrals with already one PM&R doc and looking to hire a second one (my wife). The area is an under-served area for general physiatry (post-stroke, MS, TBI, SCI, and other rehab related issues) as well as non-interventional MSK issues. This practice is part of a physical therapy place that gets referrals for physical therapy from lot of PCP's in the area. Those patients that need physiatry services get referred to the PM&R doc internally. PCP's appreciate this and it seems to be a growing trend in this area. Practice mix includes general MSK, Spine, stroke, Spasticity and other bread-and-butter rehab problems.
Coming to the contract, Initial contract length is 2 years. There are NCS/EMGs, trigger points, blind joint injections, and so on. The practice is open to expanding to anything my wife wants to practice. For example, Spasticity clinic. The compensation structure is base + productivity bonus. First year base is guaranteed $125K + (50% bonus of anything over 250K). Second year base is guaranteed $138K + (50% bonus of anything over 275K). No negative carry-over to next year if her collections are below her base. Based on their past experience, practice told my wife that previous physicians have hit in excess of 200K yearly of base+bonus. She has not looked at their books yet to confirm this.
What do you guys think about this structure?
Is the base too low?
Is the bonus percentage appropriate?
Any other details that she needs to look into before taking this contract seriously?
Her only other option in the area is to join an acute rehab hospital as an independant contractor where she has to provide everything on her own (malpractice, billing, and so on) and be on call 24/7 for her own patients. From what she heard, the admissions are not split between physicians in a fair way as the seniors physiatrists try to take more.
Any thoughts??? Thank you very much for your help...
-ML
