How is this offer?
145k base, includes malpractice insurance. Unsure about call/rounding but will have to do it. I get collections of 30% after I meet this threshold where I'm profiting the company, so for example if I cost the practice $200k, I'll start taking home 30% of collections on anything above that. Has anyone had a contract like this before?
That is a standard PP contract.
You won't take home 30% over 200k collections gross, though... it will be over 400k-600k typically (2-3x base... very substantial range).
Smaller PPs will typically be 100-150k base and 30%. Larger groups or supergroups might do 150-200k guaranteed base and then 30%.
After the first few months, the PP contracts are all effectively 30% to associate (overhead ~50%, and owner takes ~20%).
The things that vary and matter are the following:
-benefits (won't be much, but some are a bit better than others)
-when does the bonus start? 2x base? 2.5x base? 3x base?
-what is the % bonus... 25%, 30%, 35%, 40%, etc?
-is the ownership honest? (80% chance of "no"... 10% chance of "not exactly")
-are the doc(s) decent
mentors and do they have learning value, for anything... running an office, clinical style, surgical decisions, etc?
-does the place have the
tools for you success? (surplus of pts, good staffing, marketing, good system to learn from, etc)
The last two are important. Don't underestimate them. It's pointless to negotiate good % and start point if the office is slow or cheats you.
If you're a typical grad, you will just take the highest guaranteed base you can find. A few take their desired location. Typical... can't blame em for that.
Personally, a $125k base with 35% over 250k with a good ethical surgical owner and outside partner potential is better than $175k with 30% over 500k with a shady TFP owner that won't give you much/any new skill or growth potential unless you create it yourself. But hey, money talks.
As was mentioned, view it as you make the base and nothing else.
View it as you won't be there too long.
Plan to learn a bit and move on.
There are a million +1 ways for them to screw you from lying about ("miscalculating") your collections to giving you most lesser insured pts to overtly cutting your base or % later on to covertly not counting DME or counting only net DME or skipping your OTC sales or some copays to whatever they can dream up. How would you know, right? There is unfortunately very little reason to pay DPM associates well with the landslide of grads coming out. Any malcontents are easily replaced. Be
happily surprised if you find whatever gig you take to be a good job quality or a longer term relationship, but learn coding and billing and your practice style regardless. If it's not too malignant, try to get your cases for boards (or definitely take the files on surgical pts when you leave).
Pro tip: you are profiting the company at collections 2x base ("benefits" are very minimal in PP, as mentioned).
Pro tip 2: they will almost invariably lie or minimize your collections in some form.
Pro tip 3: as said, continue to look for better jobs or plans to start your own.
