Physician only PP hiring in Ventura, CA (SoCal beach town)

[NoTalentGasClown]

GASWORK post also, so most details can be found there.

Sign-on bonus and no partnership buy-in or withholdings.

Most of us are 1099, but w2 is an option
All own cases
Fee for service + stipends for a number of different shifts if 1099. (Or, if W2, salary + 6 weeks vacation.)
Full unit reimbursement for procedures/nerve blocks
Malpractice provided by hospital
No hearts
Up to 12 weeks vacation/year

Let me know any questions that aren't covered in the listing.
Thanks

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[sevo00]

Now this is a good job

 

[Ravenclaw90]

Is it home call or in house call?

 

[Maverikk]

what's the average unit value? How many units per month do people typically do?

 

[NoTalentGasClown]

Is it home call or in house call?

Home call for front up if within 10 minutes

 

[NoTalentGasClown]

what's the average unit value? How many units per month do people typically do?

Unit value PAYOUT is around 40
There are quarterly bonus distributions too.
Units are about 1,100/month I think, but I can find a more definite number from our billers.
Monthly stipends are $10k-20k

 

[chewswithteeth]

Now this is a good job

What makes you think so? Just wondering

 

[amyl]

This kind of transparency is rare and refreshing… someone else has mentioned this group to me on another online forum and sounds like a good group… California just tough for lots of people

 

[chewswithteeth]

This kind of transparency is rare and refreshing… someone else has mentioned this group to me on another online forum and sounds like a good group… California just tough for lots of people

I’d be interested in hearing about this other forum… hard to get good information on groups in that area

 

[amyl]

it’s a female anesthesiologist group on fb. Pm me your fb info if you want an invite

 

[Remxed]

This type of job is pretty much the new standard for many groups in the greater LA area. The provided malpractice is a nice little extra but we would all write it off anyways since we’re 1099.

Everyone gets the same blended units.
Tiered stipends for call.
Essentially work as much or as little as you want.
No buy-in outside of time, and no difference between partners and nonpartners outside of voting privileges.

 

[Status Sciaticus]

assuming that everyone does the equal amounts of work, its about $600k in socal. Adjusted for regional COL, how far would that go in California?

 

[Remxed]

again it depends on where in California. In general you’ll be able to live comfortably. But like many HCOL places, there are trade offs. You can have a few nice things, but you can’t have them all.

 

[USCTrojan11]

600k 1099 will be much different from 600k W2

Everyone's finances differ, but with full self directed retirement, using sec 179 every 5 years for a new SUV/truck, partners and kids on payroll at IRS min and expensing CME vacations, mortgage portion (home office to pre-chart and pre-op), internet, phone, work meals etc can get to an effective tax rate of 10-15% fed + 5%-ish for state.

Still not as good as living outside CA but helps alot.

 

[chewswithteeth]

600k 1099 will be much different from 600k W2

Everyone's finances differ, but with full self directed retirement, using sec 179 every 5 years for a new SUV/truck, partners and kids on payroll at IRS min and expensing CME vacations, mortgage portion (home office to pre-chart and pre-op), internet, phone, work meals etc can get to an effective tax rate of 10-15% fed + 5%-ish for state.

Still not as good as living outside CA but helps alot.

15-20% effective tax rate? is that for real?

 

[NotFrankUnderwood]

600k 1099 will be much different from 600k W2

Everyone's finances differ, but with full self directed retirement, using sec 179 every 5 years for a new SUV/truck, partners and kids on payroll at IRS min and expensing CME vacations, mortgage portion (home office to pre-chart and pre-op), internet, phone, work meals etc can get to an effective tax rate of 10-15% fed + 5%-ish for state.

Still not as good as living outside CA but helps alot.

I need your accountant

 

[USCTrojan11]

15-20% effective tax rate? is that for real?

Seen lower but easily yes. Now you have to be someone who doesn't need the cash and can live off 200 of post tax income. Your retirement accounts look great though.

The money goes in to 401k, profitsharing, DBP or cash balance plan. Having wife and multiple kids helps lower it further. Having a nice SUV also lowers it significantly. I've seen creative people have their S-corp offer loan repayment so using pretax money to pay off student loans works as well.

Not everyone is in this financial situation though. A lot of people need the money now, especially with loans, kids, expensive mortgage etc.

The money is taxed upon withdrawal like a 401k distribution. Works best after 59.5 (65 in some jurisdictions) and when primary residence is no longer in CA

 

[Twiggidy]

Seen lower but easily yes. Now you have to be someone who doesn't need the cash and can live off 200 of post tax income. Your retirement accounts look great though.

The money goes in to 401k, profitsharing, DBP or cash balance plan. Having wife and multiple kids helps lower it further. Having a nice SUV also lowers it significantly. I've seen creative people have their S-corp offer loan repayment so using pretax money to pay off student loans works as well.

Not everyone is in this financial situation though. A lot of people need the money now, especially with loans, kids, expensive mortgage etc.

The money is taxed upon withdrawal like a 401k distribution. Works best after 59.5 (65 in some jurisdictions) and when primary residence is no longer in CA

So how much effort does this involve in reality (and I promise I'm not being a smart ass) because it sounds like some Gold Medal Simone Biles gymnastics when if I were living in SoCal I'd want to be focusing most of my efforts on the beach, the trails, or the babes. Are you always needing to tinker with your accountant or do you just hand over you income and say "Make it happen, Capn". Again, seriously asking because half the reason a 1099 job sounds so unappealing to me is because it sounds like a lot of effort even though i might be getting hosed tax wise / retirement wise when with W2 much of it is thoughtless. Even with my job there are some hurdles to leap to get some reimbursements that are nice to get but the effort probably makes most of my practice just Kanye shrug it off.

 

[USCTrojan11]

So how much effort does this involve in reality (and I promise I'm not being a smart ass) because it sounds like some Gold Medal Simone Biles gymnastics when if I were living in SoCal I'd want to be focusing most of my efforts on the beach, the trails, or the babes. Are you always needing to tinker with your accountant or do you just hand over you income and say "Make it happen, Capn". Again, seriously asking because half the reason a 1099 job sounds so unappealing to me is because it sounds like a lot of effort even though i might be getting hosed tax wise / retirement wise when with W2 much of it is thoughtless. Even with my job there are some hurdles to leap to get some reimbursements that are nice to get but the effort probably makes most of my practice just Kanye shrug it off.

About 5 hours of planning and paperwork a year...now inevitably, you'll take a lot longer the first year but it's the drawback to running your own business and being your own boss (atleast of the s-corp, not necessarily of the hospital or OR).

Some enjoy doing this, some pay a CPA 1-2k plus filing fees for it.

Tell me how saving 100-200k in tax is not worth the additional effort (most of which can be done while at work in the OR) or paying a CPA 2k to do this? You gotta be making multi millions if your time is more valuable than that.

Reimbursements via W2 and Concur is far more painful in my opinion.

It was far more effort and paperwork to apply for a mortgage than run your own S-corp. Real estate agents, people who own their private practices, lawyers uber drivers all are able to do this but physicians won't?

 

[Twiggidy]

About 5 hours of planning and paperwork a year...now inevitably, you'll take a lot longer the first year but it's the drawback to running your own business and being your own boss (atleast of the s-corp, not necessarily of the hospital or OR).

Some enjoy doing this, some pay a CPA 1-2k plus filing fees for it.

Tell me how saving 100-200k in tax is not worth the additional effort (most of which can be done while at work in the OR) or paying a CPA 2k to do this? You gotta be making multi millions if your time is more valuable than that.

Reimbursements via W2 and Concur is far more painful in my opinion.

It was far more effort and paperwork to apply for a mortgage than run your own S-corp. Real estate agents, people who own their private practices, lawyers uber drivers all are able to do this but physicians won't?

I'm feeling you trust me, especially in this state where they roast us for taxes. I just feel like there must be something I'm missing because most people run to W2 jobs when you make it seem like were should all be running to the 1099 jobs to overall make more money.

 

[<(^_^)>]

You can also deduct state income taxes if you have an S-corp, which can be a pretty huge sum. But it’s mostly just maxing out retirement + cash balance plan + HSA though. That alone is 150k+ in deferred taxes. There is a good chance that by the end of 2025 tax laws will change significantly as they will revamp things or if they do nothing the SALT limits expire.

 

[USCTrojan11]

I'm feeling you trust me, especially in this state where they roast us for taxes. I just feel like there must be something I'm missing because most people run to W2 jobs when you make it seem like were should all be running to the 1099 jobs to overall make more money.

I feel like most new grads don't shop around, get to know the market or understand why take home pay and COL is far more important than whatever number is quoted as salary.

If they did, these LA/OC jobs would have a lot less demand. There's still people who need to live here but once you taste life outside of CA (no traffic, affordable housing, lower COL, much easier hours, less taxes) it's hard to give that all up for a So Cal you struggle in

 

[nimbus]

I feel like most new grads don't shop around, get to know the market or understand why take home pay and COL is far more important than whatever number is quoted as salary.

If they did, these LA/OC jobs would have a lot less demand. There's still people who need to live here but once you taste life outside of CA (no traffic, affordable housing, lower COL, much easier hours, less taxes) it's hard to give that all up for a So Cal you struggle in

There’s something to this. Life can be very pleasant outside of big cities. Depends on what you need. I was recently in San Luis Obispo. While still expensive, it is a beautiful, charming town with great weather and there is zero traffic. But there is only one Indian restaurant and no Korean restaurants. So I couldn’t live there long term. Wouldn’t want to live in Cleveland either which is my hometown.

 

[Iso4ane]

There’s something to this. Life can be very pleasant outside of big cities. Depends on what you need. I was recently in San Luis Obispo. While still expensive, it is a beautiful, charming town with great weather and there is zero traffic. But there is only one Indian restaurant and no Korean restaurants. So I couldn’t live there long term. Wouldn’t want to live in Cleveland either which is my hometown.

Cleveland has more than one Indian restaurant, so +1 for Cleveland (at least it’s not Detroit).

 

[amyl]

I’m thankful for the residency education I received in Cleveland… otherwise not much to recommend it

 

[NicholasPavona]

I’m thankful for the residency education I received in Cleveland… otherwise not much to recommend it

This is funny. I spent 4 years at CWRU in the "mistake by the lake."

 

[Ezekiel2517]

Agree with the previous thoughts in this thread about benefits of 1099/K1 and S-corp over being a W2 in CA. A few years ago a CPA provided several examples using actual numbers comparing them side by side and the money saved was enormous. The US tax code will always be favorable for small business owners in this country.