Partnership?

[rxfudd]

So I was looking around to get an idea of what job opportunities there are in various specialties and in various areas of the country. I noticed that almost every job description included some kind of statement about a partnership track. What exactly is this, why is it good, and how does it vary?

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[Andrew_Doan]

Usually, practices hire new physicians with an initial salary guarantee, e.g., $150K/year. Once you make 'partner' you keep more of your billing and may share the profits from the practice depending on your contract. You are also expected to pay a certain dollar amount to achieve partnership and share ownership of the practice.

It's good b/c you obviously make more money as a partner.

There are two basic ways to setup partnership:

1) You take a percentage of what you bill; for instance, if you bill $500,000/year and the overhead is 50%, then you take home $250,000.

or

2) The physicians in the group split the profits equally. This system eliminates the incentive for your seniors keeping all the private patients and scheduling the Medicare patients for you. The disadvantage of this system is that some physicians in the group may get 'lazy'.

There are derivations of the above, and the overhead costs will also vary.