Private Practice Buy-In Structures

[indonacious]

I just interviewed at a group and received an offer letter, but realize that I don’t really have any materials to compare the most significant part of the partnership structure to since all of the other jobs I interviewed at are all hospital employed or salaried type positions. Are there materials available to better understand features of the partnership type offer such as: time to partnership, amount of buy-in, sources of revenue, expected salary after partnership, revenue share vs. eat what you kill? I’d be happy to share more details via private message as well.

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[nolayup]

Would also appreciate some insight in to these aspects.

Any idea what the typical amount of PTO is for private practice?

 

[WonderBoy]

You need to ask the group to lay it out. This info should be detailed in contract. I am not aware of any particular source to compare but during my search I spoke to co-fellows and Attending about input on offers. My offer letter did outline my partnership track info. If it's not in writing it's not real, protect yourself and be vigilant. I would have a lawyer who does healthcare employment contracts review your terms as well before you sign anything.

I received 4 weeks PTO for my first year.

Also for partnership I would clarify if you are fully vested or there is a timetable. For example, some co-fellows signed for jobs where they are vested 33% after 1 year, 66% after 2 years and 100% after 3 years. So they string you along for until you get the real partnership money.

 

[1Cor1557]

Would also appreciate some insight in to these aspects.

Any idea what the typical amount of PTO is for private practice?

Mgma tracks avg PTO in PP GI and previous years it has been 15 to 20 days or 3 to 4 weeks, unless it's a cultural trend in your prospective practice (IE "oh we're working hard why aren't you buddy? Wuts the matter wit you ? Lack the money gene?" Type culture) PP is pretty flexible overall as long as there is call coverage, because at the end of the day at most places the less you work the less you make, and the more you work the more you make, so sure someone might take 2 months off but their productivity really falls off big time and scheduling clinical duties in your absence can be challenging but if it's a really big group with not overwhelming number of facilities to cover could be doable according to your goals

 

[slopes23]

Great question and your mind is in the right spot! Everything that you mentioned is critical to an informed job selection decision.

There are many other factors as well that need to be evaluated, weighed and measured.

There is no public database that I’m aware of. I have my own private database, based off of my own medical practice experiences and working with doctors all over the country to get them the best employment deal possible. It’s part of what gives us leverage during negotiations!

Good luck!

This is a very unhelpful post with no substance other than an obvious effort to drive traffic to your website.

 

[Scope guy]

This is a very unhelpful post with no substance other than an obvious effort to drive traffic to your website.

He is a sponsor for SDN

 

[slopes23]

He is a sponsor for SDN

I am aware. I stand by my post. It’s an unattractive marketing style, to me, that does nothing to further the thread. All of his posts are of similar style.

 

[IM2GI]

This all gets fairly complicated. It is alarming that they did not provide you with their corporate documents and bylaws, operating agreements, etc if you are about ready to sign a document.

The buy-in process, timeline, price/formula should be very clearly spelled out.

Can PM me if you have details.

 

[Gastrapathy]

He is a sponsor for SDN

Shouldn’t give him a pass for spamming the forums like this. He doesn’t have a secret database of private GI group proprietary info.