medical director stipend

[AndyDufrane]

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so I am in negotiations with my hospital for med director inpatient unit stipend.
I am an independent contractor, not employee of the hospital.
based on mean(not sure mean of what), either hourly rate of $139.00/hr or $38,600 lump sum for year. but the hospital is really pushing for the lump sum, not sure if I have a choice or not, but they said if I took the lump sum, they would cover paying for locums when I am away, but locum would still bill through my medicare or insurance numbers (which I am not too crazy about). also, the hospital would forgive loan of $21,000 that they gave me to start my practice.

I am trying to analyze this objectively, I am not sure if this is a fair deal for me or not. any input?

 

[Xardas]

I think a lot of it is going to be market based, depending on demand for physiatrists in your area, the size of the unit, what regional and local competitors are paying etc. You can probably have room to negotiate up in the future but right now you are kind of new to inpatient so they aren't going to want to probably commit a huge amount not knowing what they are getting with you.

The lump seems a bit low to me, but you are getting a forgiveness practice so there's that. Again a lot depends on where you are etc.

 

[AndyDufrane]

thank you Xardas, you are right, I am new attending, and the fact they are forgiving my loan is something to consider as well.