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So I’m looking to sign with a private practice in a very desirable area Id love to live. 150k with 1000$ CME, 401k with 3% match, 2 weeks PTO. Bonus of 35% on everything 3x collection which includes DME. Most importantly we’re going to discuss a path to partnership, will have a lawyer review the contracts and work as a mediator for that portion.
Well there you go significantly better than previous job search things take time. Remember right these next few years out in pencil not pen things change be ready and able to pivot and adapt to suit your long-term goals, nobody else's.
 
You are forgetting someone (any DPM who has a car) can just start their own competing service for $5k in instruments and basic equipment... make their own schedule or hire that out as they get enough, use any 5% billing service or 3% clearinghouse.
Not defending OP but you are forgetting that the majority of the population (not just DPMs) have little to no interest in being a business owner. Most folks want to show up to work, do the work, go home and earn a steady paycheck. Nothing wrong with that. I doubt a lot of pods are lining up to compete with what OP is doing.

The business OP is running may sound easy to you and me (or anyone who has opened his own practice/business) but it is a lot of work upfront (just like opening any new business) to create a turn key business.
 
So I’m looking to sign with a private practice in a very desirable area Id love to live. 150k with 1000$ CME, 401k with 3% match, 2 weeks PTO. Bonus of 35% on everything 3x collection which includes DME. Most importantly we’re going to discuss a path to partnership, will have a lawyer review the contracts and work as a mediator for that portion.
This is a standard BS podiatry offer that is nothing special.
 
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This is podiatry and you have done well for a first job considering it is a desirable location.

If after 2 years there is no fair path for partnership on paper then consider other options. Remember to keep access to charts for boards as part of contract.
 
So I’m looking to sign with a private practice in a very desirable area Id love to live. 150k with 1000$ CME, 401k with 3% match, 2 weeks PTO. Bonus of 35% on everything 3x collection which includes DME. Most importantly we’re going to discuss a path to partnership, will have a lawyer review the contracts and work as a mediator for that portion.
2 weeks pto is very very bad
Enjoy the above average offer.
 
So I’m looking to sign with a private practice in a very desirable area Id love to live. 150k with 1000$ CME, 401k with 3% match, 2 weeks PTO. Bonus of 35% on everything 3x collection which includes DME. Most importantly we’re going to discuss a path to partnership, will have a lawyer review the contracts and work as a mediator for that portion.

This is a very good offer. My current income is not that much larger than yours, but I have been out for a very long time. I would take this in a hearbeat.

You have found a diamond in the rough, congratulations!

Thank you
 
This is a very good offer. My current income is not that much larger than yours, but I have been out for a very long time. I would take this in a hearbeat.

You have found a diamond in the rough, congratulations!

Thank you
Glad to have you back and also telling the truth.

Folks on sdn always sound like if you don't get a $300k base offer then it is trash and crap. Honestly $150k base is decent for a new grad. You won't be living in luxury but you are also not living on rice and beans (shout out to Dave Ramsey).
 
So I’m looking to sign with a private practice in a very desirable area Id love to live. 150k with 1000$ CME, 401k with 3% match, 2 weeks PTO. Bonus of 35% on everything 3x collection which includes DME. Most importantly we’re going to discuss a path to partnership, will have a lawyer review the contracts and work as a mediator for that portion.
So you bonus 35% on everything after 450k collections?
 
So I’m looking to sign with a private practice in a very desirable area Id love to live. 150k with 1000$ CME, 401k with 3% match, 2 weeks PTO. Bonus of 35% on everything 3x collection which includes DME. Most importantly we’re going to discuss a path to partnership, will have a lawyer review the contracts and work as a mediator for that portion.
If there are other associates ask how much they collect and if they are reaching partnership
 
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Hospital Job Offer:
225k base locked in for 2 years, then wRVU production model.
401k, 4 weeks PTO, medical/dental/vision, 10k sign-on bonus
Mostly wound care/limb salvage inpatient work in expensive major metro area.
Seems like there may be a little wiggle room on the base salary, but feeling pretty meh about it
 
Hospital Job Offer:
225k base locked in for 2 years, then wRVU production model.
401k, 4 weeks PTO, medical/dental/vision, 10k sign-on bonus
Mostly wound care/limb salvage inpatient work in expensive major metro area.
Seems like there may be a little wiggle room on the base salary, but feeling pretty meh about it
Any CME time / $$$?

Agree that base should be higher…. Assuming you can negotiate that.

Ask for more PTO.
 
Hospital Job Offer:
225k base locked in for 2 years, then wRVU production model.
401k, 4 weeks PTO, medical/dental/vision, 10k sign-on bonus
Mostly wound care/limb salvage inpatient work in expensive major metro area.
Seems like there may be a little wiggle room on the base salary, but feeling pretty meh about it
Here's my counter offer.

Private Practice
Competitive Wage - $90K, 30% after triple base
2 weeks PTO
Buy benefits on Obamacare with the nurses
$500 moving bonus
Cover free call at the exact same hospitals emergency room / plentiful weekend rounding - hospital will generously let you eat at the cafeteria
Best part - potential for future buy-in and partnership to be discussed in the future!
 
Hospital Job Offer:
225k base locked in for 2 years, then wRVU production model.
401k, 4 weeks PTO, medical/dental/vision, 10k sign-on bonus
Mostly wound care/limb salvage inpatient work in expensive major metro area.
Seems like there may be a little wiggle room on the base salary, but feeling pretty meh about it
My only suggestion would be try to extend it to at least 3 year contract. That's what I did. 2 years seems way too fast to get anything meaningful done
 
Hospital Job Offer:
225k base locked in for 2 years, then wRVU production model.
401k, 4 weeks PTO, medical/dental/vision, 10k sign-on bonus
Mostly wound care/limb salvage inpatient work in expensive major metro area.
Seems like there may be a little wiggle room on the base salary, but feeling pretty meh about it
That base is beyond ridiculous considering the amount of money you will generate if you are doing wound debridements, amps, charcot, ex fix, skin grafts, flaps etc.

They are ripping you off the first two years and they know it.

Base + some kind of wRVU threshold bonus is the only kind of contract you should be looking for hospital work. Accepting 225K doesn't just hurt you but it hurts all podiatrists looking for surgical DPM hospital work.
 
My only suggestion would be try to extend it to at least 3 year contract. That's what I did. 2 years seems way too fast to get anything meaningful done
This is not good advice.

Longer contract = favors employer
Shorter contract = favors employee

Under 99% circumstance you'd never want a longer contract (as an employee) unless you are rewarded on another aspect of the deal.
More months/years on contract is not "security," it's a way for them to punish you and claw back bonuses, limit your options, enforce non-compete for an extended timespan. More months/years on contract is also a way for them to delay retention bonuses, have inflation on their side, etc. As the employee, you want to renegotiate and be up for better rates, new bonus, promotions, etc as often as possible.

The thinking of long contract being job or money security is a myth... newsflash: if they want you gone... or laid off... or whatever, they will let you go - regardless of how much time is on the contract. There are million ways for them to do that with or without cause, most of which are right there in each and every doc contract. Most states are at-will anyways. If you don't know, check.

If you "negotiated" longer contract term or "try to extend" it, I would strongly suggest consulting a competent attorney in the future.
On the employee side, a longer contract should only be a potential bargain chip for bigger sign bonus (most common), better RVU rate, concessions by employer on benefits or other things employee may want, etc. That is potentially useful with a rural employer, small hospitals, etc that have difficulty (more accurately, they percieve difficulty) getting or retaining a podiatrist.

From the employer side, I'm sure they'd happily give you a ten year deal at today's pay rates if you like... with plenty of clauses to let you go if you don't perform and continue to perform, lol.
 
That base is beyond ridiculous considering the amount of money you will generate if you are doing wound debridements, amps, charcot, ex fix, skin grafts, flaps etc.

They are ripping you off the first two years and they know it.

Base + some kind of wRVU threshold bonus is the only kind of contract you should be looking for hospital work. Accepting 225K doesn't just hurt you but it hurts all podiatrists looking for surgical DPM hospital work.
Agree 100%… but beggars can’t be choosers.
 
My only suggestion would be try to extend it to at least 3 year contract. That's what I did. 2 years seems way too fast to get anything meaningful done
Why are you giving advice and thumbs downing ppl who have owned an office and have worked hospital jobs before... when you've never worked a day?

Sometimes, just feel lucky you got a hospital job... esp without passing ABFAS BQ. It can be helpful to be open-minded and try to learn. Once you've worked awhile and done various types of contracts, you may know more. You will probably realize the value of ABFAS... and stop advising ppl to avoid it. In the meantime, ask to cut ties with whatever attorney told you longer contract is good for you.

Seriosuly: what "meaningful" things can't be done in 2 years? You can do bilateral ankle fusions, start a clinic from scratch and train all staff, nearly do a pod residency in two years, make and save a ton of money or pay much debt. Two years is a relative lifetime. You were just starting your residency two years ago.

We get it, you want some perceived income security (who doesn't?), but as was said, longer contract is almost never in employee favor... and you want to be on straight productivity asap if it's a busy and good hospital to work. If you are going to work hard, get paid for it... get rvu comp, be up for promotion/raise faster. 👍
 
So I’m looking to sign with a private practice in a very desirable area Id love to live. 150k with 1000$ CME, 401k with 3% match, 2 weeks PTO. Bonus of 35% on everything 3x collection which includes DME. Most importantly we’re going to discuss a path to partnership, will have a lawyer review the contracts and work as a mediator for that portion.

Typical trash bonus structure. I wondered the same, where did this idea come from?

150K starting is fair but that bonus structure is incredibly predatory. Keep in mind that your take home percentage of gross decreases as you increase your collections. 401K with 3% match is not much to write home about but better than nothing.

I would argue for at the minimum of 4 weeks PTO, hopefully 6.
 
Why are you giving advice and thumbs downing ppl who have owned an office and have worked hospital jobs before... when you've never worked a day?

Sometimes, just feel lucky you got a hospital job... esp without passing ABFAS BQ. It can be helpful to be open-minded and try to learn. Once you've worked awhile and done various types of contracts, you may know more. You will probably realize the value of ABFAS... and stop advising ppl to avoid it. In the meantime, ask to cut ties with whatever attorney told you longer contract is good for you.

Seriosuly: what "meaningful" things can't be done in 2 years? You can do bilateral ankle fusions, start a clinic from scratch and train all staff, nearly do a pod residency in two years, make and save a ton of money or pay much debt. Two years is a relative lifetime. You were just starting your residency two years ago.

We get it, you want some perceived income security (who doesn't?), but as was said, longer contract is almost never in employee favor... and you want to be on straight productivity asap if it's a busy and good hospital to work. If you are going to work hard, get paid for it... get rvu comp, be up for promotion/raise faster. 👍
I agree with almost all of this. The only exception I would make is this..... I started with and still prefer a production based model out of the gate if it's a possibility and at a fair rate (35% +). In that situation, I would favor a 3 year year contract. I think 2 is too short, as it takes some time to "get the gears moving", but 4 is too long, as by that point you should be "rolling" and ready to negotiate the next phase (increase, partnership, etc.)

Just my 2 cents, I realize everyone also has theirs.
 
Well that offer I was excited about looks like it's falling through. Completely ghosted by the practice. I did speak with a large group today who's offering 100-120k with straight 30% collections after 1-2 years.
 
Well that offer I was excited about looks like it's falling through. Completely ghosted by the practice. I did speak with a large group today who's offering 100-120k with straight 30% collections after 1-2 years.
This IMO is an "ok" deal for the short term of 2-5 years. Starting salary is on the low end but fair for 1st year. I would argue that a large group should have the ability to offer more than 30% or a clear track to more.
 
This IMO is an "ok" deal for the short term of 2-5 years. Starting salary is on the low end but fair for 1st year. I would argue that a large group should have the ability to offer more than 30% or a clear track to more.
Small or medium PPgroups will usually be the ones that have track to more (more %, partner, owner buyout if small/solo, etc) potentially available for the right associate DPM...

Large / super groups in PP won't offer more. They will never give [meaningful] partnership, and asking for more % generally just gets the associate replaced with another one. They should absolutely pay higher base, though ($150k-$200k+). The bigger groups just have the ability to make the employee DPM's 30% or 35% or whatever come from a bigger overall number with slimy stuff like grafts, profit share for lab or DME shop or PT or Vasc they own, etc. They can pay a bit more, but the are more limiting long term.

...The large groups may have better 'benefits' also, but most of the packages I see lately (even many from hospitals) are such crap with wacky vesting schedules and such. The hospitals' insurance will be fair to good (in network), but the PPs usually have nothing or plans that are barely helpful.
 
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30% is bad. Probably an associate mill.
Yeah and no.

I got 35% at the NMex supergroup I was working with, which seemed low. I usually got 40-50% in PP and MSG setups prior.
However, some of the big/supergroup ones have a lot of 'ancillary services' that they get a piece of (PT, "path lab" nail clipping histo, Vasc refers, brace/shoe shop refers, etc). More important, they can get you busy fast.
The smaller and medium PP ones might be effectively 35-45% associate pay (as opposed to 30-35% large group), but you don't get most/any of those above services. They may or may not have a full patient load for associate quickly.
Either should get associate normal collections. Either might short - or cut out - associates on DME and OTC.

Essentially, 30% of 700k collected at SuperGroup City office #29 can be the same as 40% of $500k collections working at Dr. Moustache with his wife doing billing. The SuperGroup guy likely worked more hours, saw more pts, did more "protocols," and had higher base early, and the Moutache associate had probably had better hours, hopefully got more mentorship and ability to practice how he wanted.

In the end, it's more than just the %. Anyone looking associate should talk to current/past associates.
Job quality and the chance to succeed (staff, city, DPMs you work with/for, area payers, area non-compete laws) matter too.
Mentorship is valuable early on, since any associate is getting bent over financially. They may as well learn.
I think small/med generally has better quality, and large/super should have higher base... both should be about same overall.
Small/med may or may not have long term partner/buyout potential... supergroup never will (unles they sell scam 'partner' shares).
So... do whichever setup one likes, maybe area they like (if no non-competes), save $$$, and then GTFO to a high pay hospital job or owner/partner situation asap.

And yeah, they are nearly all associate mills.
They nearly all dump the MCA and the late days, Saturdays, hospital work, wounds, nails, etc onto associate.
Whether it's 30 or 35 or 40%, it takes a special individual to let an owner take about 20% of everything they bring in indefinitely. 🙂
 
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That "offer" or discussion was with a private equity backed group I know they have a couple hundred podiatrist. They said they offer 5 of their couple hundred associates partnership each year. They do have more ancillary services you are correct but can I cross the 150k threshold without killing myself collecting 30%?
 
That "offer" or discussion was with a private equity backed group I know they have a couple hundred podiatrist. They said they offer 5 of their couple hundred associates partnership each year. They do have more ancillary services you are correct but can I cross the 150k threshold without killing myself collecting 30%?
You should get 150k base or significantly more for large/VC/super groups like that (for the first year)...

Then, they'll usually pull away the base (to basically make you take little/no vaca), and you enter essentially a perpetual arrangement of that you get ~$30, they profit ~$20, and ~$50 paying overhead for every $100 you bring in. Sweet deal... for them.

Yeah, you can increase your collections if you play the refers-for-profit game (do whatever services they own and will pay you for) or pump high pt volume, but you're mainly increasing their passive income as fast as you increase your own by working. They can make new additions to their mansion or put new sports cars in their 8 car garages or new boats at the marina while you and other associates see 30+ patients per day and likely in charge of training your MAs being paid minimum wage. Oh, and the "partnership" is nothing but talk.

Negotiate as high a base as you can, learn a bit while working those large/super VC jobs, and then start your own office or keep applying hospital FTE jobs.
 
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A LOT of practicing DPMs read this forum but dont post.
My advice - if youre securing a job dont post your updates here.
When people are hurting and looking for a job they are desperate for help so I disagree that he or she shouldn’t post updates here. It’s very informative for other people going through the same or to caution others about what they may face. That’s the issue with podiatry, everything is kept under wraps and there is no transparency. That breeds lack of integrity and trust among the general public, other medical specialties, and most of all patients. Everyday podiatry proves its self to be a second rate slum profession. Nobody wants to admit it but it’s true.
 
Why are you giving advice and thumbs downing ppl who have owned an office and have worked hospital jobs before... when you've never worked a day?

Sometimes, just feel lucky you got a hospital job... esp without passing ABFAS BQ. It can be helpful to be open-minded and try to learn. Once you've worked awhile and done various types of contracts, you may know more. You will probably realize the value of ABFAS... and stop advising ppl to avoid it. In the meantime, ask to cut ties with whatever attorney told you longer contract is good for you.

Seriosuly: what "meaningful" things can't be done in 2 years? You can do bilateral ankle fusions, start a clinic from scratch and train all staff, nearly do a pod residency in two years, make and save a ton of money or pay much debt. Two years is a relative lifetime. You were just starting your residency two years ago.

We get it, you want some perceived income security (who doesn't?), but as was said, longer contract is almost never in employee favor... and you want to be on straight productivity asap if it's a busy and good hospital to work. If you are going to work hard, get paid for it... get rvu comp, be up for promotion/raise faster. 👍
Everyone should avoid ABFAS. You know this Seth
 
Why are you giving advice and thumbs downing ppl who have owned an office and have worked hospital jobs before... when you've never worked a day?

Sometimes, just feel lucky you got a hospital job.
- Never worked
- Currently working a hospital job

Make up your mind Seth. This is just silly

Also, I use the thumbs down emoji because I'm not perpetually on SDN like other people. Emojis are a fast way to get a message across so I can get back to real life (working my hospital job, raising a family, etc)
 
- Never worked
- Currently working a hospital job

Make up your mind Seth. This is just silly

Also, I use the thumbs down emoji because I'm not perpetually on SDN like other people. Emojis are a fast way to get a message across so I can get back to real life (working my hospital job, raising a family, etc

Yeah heavy on the make up your mind because people contradict themselves on here too much.
 
When people are hurting and looking for a job they are desperate for help so I disagree that he or she shouldn’t post updates here. It’s very informative for other people going through the same or to caution others about what they may face. That’s the issue with podiatry, everything is kept under wraps and there is no transparency. That breeds lack of integrity and trust among the general public, other medical specialties, and most of all patients. Everyday podiatry proves its self to be a second rate slum profession. Nobody wants to admit it but it’s true.
I agree. But I would recommend posting after signing a contract if its a job youre going to pursue.

I disagree that job contracts leads to lack of trust in the general public or other medical specialties. They dont care what contract we sign.
 
Curious your reasoning why everyone should avoid ABFAS?
There isn't anything new to be said on this.

-People who got ABFAS and are hospital/ortho employed will continue to believe that ABFAS was essential to their success. In fact, it very well may have been. It assuredly can serve as a great functional method to reduce a pile of applications down to 5 applicants since most people don't have it.

-However, everytime a hospital or surgery center allows people with ABPM to do whatever they want and they are successful - it dilutes the ABFAS brand and makes ABFAS less necessary.

Everyone is promoting their brand.
 
You can go read my (and many others) old posts in the ABFAS vs ABPM thread. No need to continue to derail the job discussion thread any further by continuing to beat dead horses
I am entitled to my opinion as are you.

On a thread about jobs telling job applicants to avoid ABFAS I personally believe is bad advice.
 
I agree. But I would recommend posting after signing a contract if its a job youre going to pursue.

I disagree that job contracts leads to lack of trust in the general public or other medical specialties. They dont care what contract we sign.
The compromise is just don't use exact range, area, practice or group name, etc etc.

When people are hurting and looking for a job they are desperate for help so I disagree that he or she shouldn’t post updates here. It’s very informative for other people going through the same or to caution others about what they may face. That’s the issue with podiatry, everything is kept under wraps and there is no transparency. That breeds lack of integrity and trust among the general public, other medical specialties, and most of all patients. Everyday podiatry proves its self to be a second rate slum profession. Nobody wants to admit it but it’s true.
I agree it is good to talk offers, but caution until contracting is done or jobs are started. Same for residency match... podiatry is a small world.
 
I agree. But I would recommend posting after signing a contract if its a job youre going to pursue.

I disagree that job contracts leads to lack of trust in the general public or other medical specialties. They dont care what contract we sign.
Yeah you definitely misinterpreted what I said. I meant that in general podiatry tries to keep everything about the profession under wraps, that’s why the general public still after decades and decades are confused about what podiatrists do. Transparency is key for trust. People come on here to voice their frustrations about all things podiatry because they literally have nowhere else to do it. The APMA surely doesn’t care, nor does any of the other organizations that podiatry has made up. It’s the truth and until people sit in the truth of what podiatry is nothing and I mean nothing will get better. This includes the ABFAS debacle, job market, and the enrollment crisis among other things.
 
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The compromise is just don't use exact range, area, practice or group name, etc etc.


I agree it is good to talk offers, but caution until contracting is done or jobs are started. Same for residency match... podiatry is a small world.
I agree that over indulging on certain details can be detrimental because you never know who is watching this site and how it may affect you while looking for a job. But I just think that the poster is really just looking for help because he or she is having a very hard time so I understand looking for help anywhere you think you can get it.
 
There isn't anything new to be said on this.

-People who got ABFAS and are hospital/ortho employed will continue to believe that ABFAS was essential to their success. In fact, it very well may have been. It assuredly can serve as a great functional method to reduce a pile of applications down to 5 applicants since most people don't have it.

-However, everytime a hospital or surgery center allows people with ABPM to do whatever they want and they are successful - it dilutes the ABFAS brand and makes ABFAS less necessary.

Everyone is promoting their brand.
You stated that well…And here in lies the problem. The profession fighting against its self.