Is this the standard for pain job and pay?

[changeofheart2016]

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Incoming fellow and was wondering if job postings like this is the standard for pain jobs in terms of patient volume and pay/salary amount and structure:

Office Hours: Monday through Friday, 9-5 pm, 2 weekend days/month

Patient Volume: 20 - 25 patients/day

Payor Mix: 60% major health insurance, 30% medicare, 10% personal injury/ workers compensation. NO Medicaid or cash patients seeking medications

Competitive Base Salary
Bonuses & Incentives: 20% of physician collections after deducting salary and 55% expenses of running practice (i.e. if physician generates 1,000,000 on an annual basis: 1,000,000 – 300,000 (salary) – 55% expense x 20% = $63,000 bonus)

Benefits include: Paid Malpractice, MCME, Vacations, Holidays, Group Medical & Dental. • Willing to increase productivity from 20% first year to 25% second year and 30% third year and possible shares in the ambulatory surgery center in the future

 

[SSdoc33]

there is no standard, but that's not awful, depending on where you live. a lot has to do with how much you trust the people there and the possibility of ancillary ASC revenue

 

[SommeRiver]

20 per day will not collect you 1 million.

 

[Ronin1]

Seems low especially with the weekend days

 

[clubdeac]

So you pay 55% of all overhead however you only get to keep 20% of what's left over?? That's ridiculous. You should be keeping 100% of what's left over. How many other physicians are in this practice? And why do they get to keep 80% of your bonus?

 

[SSdoc33]

yeah, the weekend stuff is BS. that will get very old very quickly.

much of this depends on the location.

 

[Laryngospasm]

Sounds crappy

 

[drusso]

So you pay 55% of all overhead however you only get to keep 20% of what's left over?? That's ridiculous. You should be keeping 100% of what's left over. How many other physicians are in this practice? And why do they get to keep 80% of your bonus?

What if the owner is a hospital? How do you do the split then?

 

[clubdeac]

What if the owner is a hospital? How do you do the split then?

No idea, simplest way would be wRVUs?

 

[AdminPatient]

Incoming fellow and was wondering if job postings like this is the standard for pain jobs in terms of patient volume and pay/salary amount and structure:

Office Hours: Monday through Friday, 9-5 pm, 2 weekend days/month

Patient Volume: 20 - 25 patients/day

Payor Mix: 60% major health insurance, 30% medicare, 10% personal injury/ workers compensation. NO Medicaid or cash patients seeking medications

Competitive Base Salary
Bonuses & Incentives: 20% of physician collections after deducting salary and 55% expenses of running practice (i.e. if physician generates 1,000,000 on an annual basis: 1,000,000 – 300,000 (salary) – 55% expense x 20% = $63,000 bonus)

Benefits include: Paid Malpractice, MCME, Vacations, Holidays, Group Medical & Dental. • Willing to increase productivity from 20% first year to 25% second year and 30% third year and possible shares in the ambulatory surgery center in the future

what is included in your overheard allocation? Are things like rent, staff costs, rev cycle fees spread equally across the group of docs or is it more sophisticated than that? Are there PAs/APCs in the picture? If you are getting a piece of their incident to billing?

 

[changeofheart2016]

is a hypothetical base salary of 300 too low? is asking for 350 with production bonus also reasonable?

 

[MikeMerk-MtS]

It really depends if your bonus is set to an unreachable minimum. If you’re ok with not hitting that bonus for a few years and you’re ok with $300k plus those benefits then it’s fine. It’s just hard to say because base and take home can be totally different depending on your productivity.

 

[rocsux]

could someone please explain the payor mix part ( Payor Mix: 60% major health insurance, 30% medicare, 10% personal injury/ workers compensation. NO Medicaid or cash patients seeking medications )? is that a good mix or bad? I understand the more major health insurance the better and the less medicare and medicaid the better, however isn't more cash patients also better? I think WC also pays pretty well right?

 

[jsaul]

paying another doctor's benefits is an expensive venture nowadays. For example here, the employer pays for malpractice insurance, health and dental insurance and pays for the employee's time off. As a solo practitioner myself all of that costs a lot of money which is separate from the employee doc's salary. Depending on the situation and location all of that could be worth monetarily anywhere from 40,000-80000 dollars at least a year. often the new grad does not consider that in the equation

 

[SommeRiver]

paying another doctor's benefits is an expensive venture nowadays. For example here, the employer pays for malpractice insurance, health and dental insurance and pays for the employee's time off. As a solo practitioner myself all of that costs a lot of money which is separate from the employee doc's salary. Depending on the situation and location all of that could be worth monetarily anywhere from 40,000-80000 dollars at least a year. often the new grad does not consider that in the equation

This is something most ppl do not understand, and those costs add up pretty quickly.

 

[Ducttape]

could someone please explain the payor mix part ( Payor Mix: 60% major health insurance, 30% medicare, 10% personal injury/ workers compensation. NO Medicaid or cash patients seeking medications )? is that a good mix or bad? I understand the more major health insurance the better and the less medicare and medicaid the better, however isn't more cash patients also better? I think WC also pays pretty well right?

Good.
Low PI/WC while can pay well is actually good. while you do get money... much less of a headache. and would definitely trade that for no cash pay patients.
No Medicaid is really good.

 

[Agast]

Agree that patient volume seems low if your goal is to collect $1 million, unless you are being credited for use of in-house ancillaries.