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I am currently 15 months into my current contract at a private practice. Currently getting paid mid 200s with 5% production bonus on net collection minus expense of around 30,000. It’s a “ partnership track” where offer me a partnership once I bring in a certain amount of collection (there is a small amount of buy in) . Initially they made it sound like it’ll take me 2 to 3 years to to build up enough patient panel to bring in sufficient income to become partner. So far, I am somewhere around 70% of required collections which is not bad for only 15 months in. However, a physician who started a year before me is still around 80% of required collections and hasn’t been offered any partnership. I really like this practice however I have concerned that it may take additional 3-4 years before making partnership, and I do not want to be just making what I’m currently making. Do you think is reasonable to ask for a renegotiation of my current contract? What would be a reasonable offer? is increase in 10% of my base pay each year or doubling my production bonus to 10%? Will be a good timing to bring this up to my office manager? I was thinking to start negotiating six months out of my current term as I recently bought a house(stupid mistake, however, it was necessary for family), and I will have time to find a new job if they’re not willing to negotiate. this is my first job out of residency so I’m not sure how to get out this. I appreciate your advice.
