Sign on bonus, AKA Forgivable Loan?

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One of the Full time job offers that I am considering has a sign on bonus that is tied to the job for 4 years. The recruiter tells me it is a forgivable loan that means if I work for 4 years with that company, I will not have to repay the sign on bonus. No moving expenses.
What happens if I quit before the full 4 years? Will that be taxed as ordinary income?
Can I offset my closing costs on real estate from that forgivable Loan
Any other tax implications that I am missing out?
Thanks

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Won’t it be taxed as income regardless? What makes you think this sign-on bonus would be considered tax free?
 
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Won’t it be taxed as income regardless? What makes you think this sign-on bonus would be considered tax free?

Tax offset for all my expenses such as moving expense, closing costs on my mortgage, getting a new rental/ mortgage and the list goes on. In fact I am now thinking that this sign on bonus is a bait trap?
 
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Talk to an accountant. It’s income. You’re going to get taxed somehow. 4 years is a long time. My sign on bonus was 12 months.
 
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One of the Full time job offers that I am considering has a sign on bonus that is tied to the job for 4 years. The recruiter tells me it is a forgivable loan that means if I work for 4 years with that company, I will not have to repay the sign on bonus. No moving expenses.
What happens if I quit before the full 4 years? Will that be taxed as ordinary income?
Can I offset my closing costs on real estate from that forgivable Loan
Any other tax implications that I am missing out?
Thanks

That is kind of an odd rookie contract if you ask me. I would think long and hard about what it is you’re signing up for. The fact that there is a recruiter is your first tip off something is odd.

But let’s think about this.
1. You love the job and keep the money. Yay
2. You spend the money cause you don’t quite understand how much it is you have to spend, how taxes work, were overzealous buying a house or car. Honey moon phase of job ends and you end up hating the job. Moneys gone. Now you owe the signing bonus and potentially tail coverage if you want to leave. Or wait it out for 4 years.
3. You take the job, don’t spend the money cause you’re worried about having to pay it back if you want to leave. Why bother even having it at this point if you can’t spend it?

I think this signing bonus is more of a hook to lock you in benefiting the practice more than it is a benefit to you. Sure you could look at it as a zero interest loan and a bonus if you stay for 4 years but definitely strikes me as weird. A lot can change in 4 years. New leadership in your group. New leadership in the hospital. I prefer minimizing obligations.
 
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The reason I liked the job is that I have worked there for 18 months and know all the surgeons and nurses and there is no OB. Now AMC has taken over and the previous members in the old group don’t want to sign up full time. some of the group members were lucky and became “reservists” at the locums arm of the AMC. I got axed because the AMC doesn’t like the my Locum agency. The AMC wants me to sign up full time if I want to work at that location and they will pay out my Locum Company. But I will be the first one to sign up.
the hospital has guaranteed that it will pay for the locums for one more year. After that it will be the groups AMC problem.
In other words, if the group has tough luck employing FTE, full time equivalents, the group income will go to subsidizing locums.
 
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One of the Full time job offers that I am considering has a sign on bonus that is tied to the job for 4 years. The recruiter tells me it is a forgivable loan that means if I work for 4 years with that company, I will not have to repay the sign on bonus. No moving expenses.
What happens if I quit before the full 4 years? Will that be taxed as ordinary income?
Can I offset my closing costs on real estate from that forgivable Loan
Any other tax implications that I am missing out?
Thanks

My take.

If you quit before 4 years you’ll have to repay the loan/signon bonus to the AMC and you won’t need to worry about taxes. If you stay through the 4 year commitment, your bonus/loan will be forgiven and that amount becomes taxable income. Anyway you should save some of it either to pay taxes or to repay the loan. If you end up staying, it’s a win in that you not only keep the bonus but also deferred taxes for a few years until the loan is forgiven.

And I’d be wary of this one too.
 
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Friend who signed with Kaiser had a 70,000/7 year "sign on/retention bonus" that they received upfront, structured such that they owed back 10/year if they left before the 7. He took it and just invested it treating it as a loan so he always had the money in case he left but also could make some off of it based on the stock market.
 
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Tax offset for all my expenses such as moving expense, closing costs on my mortgage, getting a new rental/ mortgage and the list goes on. In fact I am now thinking that this sign on bonus is a bait trap?

Repayment issues aside, you should look at the IRS rules for moving-related tax deductions as I believe most of what you listed there is not tax deductible.
 
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The reason I liked the job is that I have worked there for 18 months and know all the surgeons and nurses and there is no OB. Now AMC has taken over and the previous members in the old group don’t want to sign up full time. some of the group members were lucky and became “reservists” at the locums arm of the AMC. I got axed because the AMC doesn’t like the my Locum agency. The AMC wants me to sign up full time if I want to work at that location and they will pay out my Locum Company. But I will be the first one to sign up.
the hospital has guaranteed that it will pay for the locums for one more year. After that it will be the groups AMC problem.
In other words, if the group has tough luck employing FTE, full time equivalents, the group income will go to subsidizing locums.

Oi... This sounds like red flags all over. If this were me I would run, unless the pay could be super great or something
 
Just ask them to roll the bonus evenly into your salary over four years. They’re trying to put an anchor on you.
 
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Tell ‘em to make it 2 years plus a 10% raise.
 
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If you decide to accept this sign on bonus, which in my opinion is a bad decision,
At least make sure it is prorated based on each month you work for the AMC. IMHO, the entire sign on bonus is taxable income so be prepared to pay the IRS.
 
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Tax offset for all my expenses such as moving expense, closing costs on my mortgage, getting a new rental/ mortgage and the list goes on. In fact I am now thinking that this sign on bonus is a bait trap?

Speak with an accountant because you are very much wrong on this list in current tax law. I don’t believe any of this is deductible anymore (moving used to be but no longer with higher standards).

I agree with Blade - your sign on bonus should be prorated to time. And the purpose of it is to pay for some of things you list.
 
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Tax offset for all my expenses such as moving expense, closing costs on my mortgage, getting a new rental/ mortgage and the list goes on. In fact I am now thinking that this sign on bonus is a bait trap?

This is wrong. The tax 'cut' effective 2018 killed all w2 deductions for moving so unless you are 1099 and relocating your business you get to deduct exactly $0 of your moving costs. You would never get to deduct rental costs and mortgage costs are only deductible if you itemize which very few people do nowadays.
 
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Agree, have to double check with my accountant. It’s a business c Corp 1099, and yes the moving expenses are deductible. Mortgage may not be unless I buy property on my Corp. The AMC may agree to prorate sign on, so that every year I finish work, 25% will be forgiven. They are unwilling to make any exceptions.
A little background, the group members had the contract 3 -4 years ago and when the fee for service, collections
went way down, some group members quit and the Remaining members had to take call q2-3 To finish the remainder of the contract duration with hospital. This bitter experience lead some group members to just work as locums. Even though they were offered a better contract, the group had the right of first refusal. Group refused and locums and AMC were brought in. Difficult to recruit. High crime infested, poor area surrounded by rich farmers.
The AMC is going to have a lot of difficulty recruiting physicians. The AMC may in 2-4years down, when hospital guarantees of subsidizing, recruitment of locums come up with Other ideas?
 

My previous accountant told me that 12 months of rental expenses were tax deductible if the new job was more than 50 miles away. And because I am self employed and I had a home office.
 
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Oi... This sounds like red flags all over. If this were me I would run, unless the pay could be super great or something
But, but my house is only one hours drive and with Covid long distance travel brings in its own sets of problem.
 
Agree, have to double check with my accountant. It’s a business c Corp 1099, and yes the moving expenses are deductible. Mortgage may not be unless I buy property on my Corp. The AMC may agree to prorate sign on, so that every year I finish work, 25% will be forgiven. They are unwilling to make any exceptions.
A little background, the group members had the contract 3 -4 years ago and when the fee for service, collections
went way down, some group members quit and the Remaining members had to take call q2-3 To finish the remainder of the contract duration with hospital. This bitter experience lead some group members to just work as locums. Even though they were offered a better contract, the group had the right of first refusal. Group refused and locums and AMC were brought in. Difficult to recruit. High crime infested, poor area surrounded by rich farmers.
The AMC is going to have a lot of difficulty recruiting physicians. The AMC may in 2-4years down, when hospital guarantees of subsidizing, recruitment of locums come up with Other ideas?

Sounds like you have them in a pretty good spot. Maybe you are in better position than you recognized.

Sound like you have talked to an accountant, what’s your reservation then?

It’s not a good job, at least by the lifestyle, q2-q3?! Maybe you’re rolling in dough. If in-house call, you might as well just live in the hospital. Maybe this is where you want to be? To each his/her own.

4 years retention? Better be some big number, I doubt 6-figure. 75K, perhaps. But still 4 years is a long time, I also know the language these desperate amc jobs would put in contract. They’re corporations pretend to be PP. When the time is good, everyone happy; when the time gets tough, you’ll be even more miserable than when you’re PP. They will cut and gut you to make their “magical” numbers. You will have zero say, except getting KY.

So in short, it’s a shiiitty job, and trust the professional that you pay $$$ for.
 
I don’t have all the legalese 40 plus pages of documents that the AMC signed with the hospital. Will get a chance to review only after I sign the offer? 4 years retention is a long time. I am willing to do call once a week and they agreed. But will also be on late call for 12 hrs once a week. No OB, so no in-house call. At this point the hospital supports in recruiting locums for the rest of FTE. Locums do calls as well. But don’t know 1-2 years down the road.

However salary is productivity based. Unit value is 50% greater than the 30 $/ unit I used to make in 2015-2016.
Basically don’t know how many cases and units you will generate. New surgeons are being recruited to do robotic, spine , bariatric surgeries. it will take some time for the surgeons to get busy. I am told that robotic assisted cases anesthesia starting units are higher and they get reimbursed better, raising the unit value. Lots of info that I don’t know and even my accountant doesn’t know. I am going to assume it’s a ****ty job being sold. As something better. If no one else joins and I am the first, I would like to have an exit plan. 2 months notice and I can quit.

Do the AMC get any special deal on retirement benefit? Recruiting told that one can put away 100k pretax (,I thought 52k in profit sharing plan pretax money) and more as an S Corp into retirement account of the AMC. My accountant states that is not correct. (something seems to be too good to be true). I can understand that they have a great medical health insurance.
 
I don’t have all the legalese 40 plus pages of documents that the AMC signed with the hospital. Will get a chance to review only after I sign the offer? 4 years retention is a long time. I am willing to do call once a week and they agreed. But will also be on late call for 12 hrs once a week. No OB, so no in-house call. At this point the hospital supports in recruiting locums for the rest of FTE. Locums do calls as well. But don’t know 1-2 years down the road.

However salary is productivity based. Unit value is 50% greater than the 30 $/ unit I used to make in 2015-2016.
Basically don’t know how many cases and units you will generate. New surgeons are being recruited to do robotic, spine , bariatric surgeries. it will take some time for the surgeons to get busy. I am told that robotic assisted cases anesthesia starting units are higher and they get reimbursed better, raising the unit value. Lots of info that I don’t know and even my accountant doesn’t know. I am going to assume it’s a ****ty job being sold. As something better. If no one else joins and I am the first, I would like to have an exit plan. 2 months notice and I can quit.

Do the AMC get any special deal on retirement benefit? Recruiting told that one can put away 100k pretax (,I thought 52k in profit sharing plan pretax money) and more as an S Corp into retirement account of the AMC. My accountant states that is not correct. (something seems to be too good to be true). I can understand that they have a great medical health insurance.


I hope all this agreement is in writing in your contract. No handshake deal and what is the premium if you do more 1 call a week?
What do u mean by late call for 12 hrs? Why not 1 late day once a week?
Instead of signing bonus, can it be a retention bonus for each year you stay?
What are the other options in the area?
 
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I don’t have all the legalese 40 plus pages of documents that the AMC signed with the hospital. Will get a chance to review only after I sign the offer? 4 years retention is a long time. I am willing to do call once a week and they agreed. But will also be on late call for 12 hrs once a week. No OB, so no in-house call. At this point the hospital supports in recruiting locums for the rest of FTE. Locums do calls as well. But don’t know 1-2 years down the road.

However salary is productivity based. Unit value is 50% greater than the 30 $/ unit I used to make in 2015-2016.
Basically don’t know how many cases and units you will generate. New surgeons are being recruited to do robotic, spine , bariatric surgeries. it will take some time for the surgeons to get busy. I am told that robotic assisted cases anesthesia starting units are higher and they get reimbursed better, raising the unit value. Lots of info that I don’t know and even my accountant doesn’t know. I am going to assume it’s a ****ty job being sold. As something better. If no one else joins and I am the first, I would like to have an exit plan. 2 months notice and I can quit.

Do the AMC get any special deal on retirement benefit? Recruiting told that one can put away 100k pretax (,I thought 52k in profit sharing plan pretax money) and more as an S Corp into retirement account of the AMC. My accountant states that is not correct. (something seems to be too good to be true). I can understand that they have a great medical health insurance.

There’s so much to unpack here. Unless someone has been in your specific situation, it may be hard to say anything.

Most AMCs around my area are just straight up salary. Are you getting paid by the hospital? Partially funded by the hospital?

Who’s paying for what? I think you’re way too optimistic about this job and thought way too far ahead. You’re thinking about your benefits already before you even have a clear picture of what your primary income is..... I would definitely have a contract lawyer, preferably someone does physician contract to check this contract.

Unless the number really works out, I would stay locum and charge a premium to stick around. Or unless I have compelling reason to stay.

Or you could just be intentionally vague and think you have something very valuable on your hands.
 
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I don’t have all the legalese 40 plus pages of documents that the AMC signed with the hospital. Will get a chance to review only after I sign the offer? 4 years retention is a long time. I am willing to do call once a week and they agreed. But will also be on late call for 12 hrs once a week. No OB, so no in-house call. At this point the hospital supports in recruiting locums for the rest of FTE. Locums do calls as well. But don’t know 1-2 years down the road.

However salary is productivity based. Unit value is 50% greater than the 30 $/ unit I used to make in 2015-2016.
Basically don’t know how many cases and units you will generate. New surgeons are being recruited to do robotic, spine , bariatric surgeries. it will take some time for the surgeons to get busy. I am told that robotic assisted cases anesthesia starting units are higher and they get reimbursed better, raising the unit value. Lots of info that I don’t know and even my accountant doesn’t know. I am going to assume it’s a ****ty job being sold. As something better. If no one else joins and I am the first, I would like to have an exit plan. 2 months notice and I can quit.

Do the AMC get any special deal on retirement benefit? Recruiting told that one can put away 100k pretax (,I thought 52k in profit sharing plan pretax money) and more as an S Corp into retirement account of the AMC. My accountant states that is not correct. (something seems to be too good to be true). I can understand that they have a great medical health insurance.

That sounds like crap. I don't trust anyone who doesn't give the details up front. At one interview, the group opened their books to me and showed me how much each partner billed and took home.
 
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I hope all this agreement is in writing in your contract. No handshake deal and what is the premium if you do more 1 call a week?
What do u mean by late call for 12 hrs? Why not 1 late day once a week?
Instead of signing bonus, can it be a retention bonus for each year you stay?
What are the other options in the area?

Trying to get a lot in writing as I find myself ending up in dead end and bad situation. Sometimes I wonder why I would get myself into a bad job? Does this happens to others.
No premium for doing calls more than once a week except the 45$/ a unit. That is being touted as being high. Honestly I want to do my part and not invest heavily into anything. Retention bonus, never thought of that may be great idea. The other options are the county hospital(. They have both trauma, OB and CRNA) to contend with.
Dignity health. Don’t know if they are even recruiting.
 
I am told that robotic assisted cases anesthesia starting units are higher and they get reimbursed better, raising the unit value.

That’s a bold faced lie. Start-up units are the same as a regular lap case.

You need to run from this job faster than Usain Bolt.

You could ask them for a guaranteed 10K units/year @ 45$/unit where they pay the difference if you generate fewer units.

Bottom line is they are playing you for a fool.
 
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I am told that robotic assisted cases anesthesia starting units are higher and they get reimbursed better, raising the unit value.

I believe it’s the same code for laparoscopic and robotic procedures...correct me if I’m wrong maybe that’s not true for every procedure but....

CPT 55866 base 7 laparoscopic radical prostatectomy - laparoscopy, surgical prostatectomy, retropubic radical, including nerve sparing, includes robotic assistance when performed.
 
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That’s a bold faced lie. Start-up units are the same as a regular lap case.

You need to run from this job faster than Usain Bolt.

You could ask them for a guaranteed 10K units/year @ 45$/unit where they pay the difference if you generate fewer units.

Bottom line is they are playing you for a fool.

Haha beat me to it while i was trying to fact check myself
 
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OP, you seem very interested in taking this job. I hope that we can sway you from taking it. It’s a BAD job! If you must take it, do it as a locum, hourly rate (225-350/hr), OT after 3pm, stipend for call and guaranteed minimum for call backs.
 
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Yeah this whole situation sounds like a real dumpster fire. An AMC took a contract from a PP group that basically imploded and wouldn’t make a deal with the hospital. The old guys won’t sign with AMC, but are still working there as locums. You’d be the first guy to sign with the AMC, but won’t be salaried, have a FOUR YEAR COMMITMENT for what does not sounds like a lot of money, with no income guarantee and apparently no specified limit on how much you’ll have to work/take call. You say yourself that the place has had/will have a hard time recruiting (hint: it won’t get better under as AMC umbrella). You say coverage will now be “the AMC’s problem”, but as an AMC employee (potentially the only one?) it is exactly your problem. I think a likely scenario is that they can’t recruit more employees and they have to jack up locums rates to keep the place staffed. This leads to locums guys making more than you but without the handcuffs. Additionally, the AMC will use their employee to get the high-rate locums guys out at the end of the day (to save money) and your work/call hours shoot up.

Am I missing anything? RUN FORREST RUN!!!
 
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Yeah this whole situation sounds like a real dumpster fire. An AMC took a contract from a PP group that basically imploded and wouldn’t make a deal with the hospital. The old guys won’t sign with AMC, but are still working there as locums. You’d be the first guy to sign with the AMC, but won’t be salaried, have a FOUR YEAR COMMITMENT for what does not sounds like a lot of money, with no income guarantee and apparently no specified limit on how much you’ll have to work/take call. You say yourself that the place has had/will have a hard time recruiting (hint: it won’t get better under as AMC umbrella). You say coverage will now be “the AMC’s problem”, but as an AMC employee (potentially the only one?) it is exactly your problem. I think a likely scenario is that they can’t recruit more employees and they have to jack up locums rates to keep the place staffed. This leads to locums guys making more than you but without the handcuffs. Additionally, the AMC will use their employee to get the high-rate locums guys out at the end of the day (to save money) and your work/call hours shoot up.

Am I missing anything? RUN FORREST RUN!!!

Absolutely correct. Don’t know what the hospital deal with AMC is, but full timers are paid based on productivity and the long rooms with Lots o units will be assigned to the locums and full timers will have to come at 3 pm to finish the cases. In fact it will get worse my regular 8 hrs might start at 3 pm and will be there till 11 pm. No body will join such a group unless desperate.

Staffing 5 ORs with all rooms starting at 0730 with very few cases in 2-3 rooms is not sustainable. The Hospital administrator ( a nurse in-her Previous job)and surgeons wanted it no matter what. They were not willing to vertically align the cases to maximize revenue in each OR before opening and promising everything to the surgeon. Lead to hiring locums.
 
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OP, you seem very interested in taking this job. I hope that we can sway you from taking it. It’s a BAD job! If you must take it, do it as a locum, hourly rate (225-350/hr), OT after 3pm, stipend for call and guaranteed minimum for call backs.

The AMC is not interested in hiring me as locum, as they found out that the locums agency was charging them way more than other locums. The AMC itself has a sister locums Company And they hire reservists. I can buy myself out by shelling out 50K to my Locum company and join the sister company as locum.

Am waiting on other Locum jobs in New York State.
 
The AMC is not interested in hiring me as locum, as they found out that the locums agency was charging them way more than other locums. The AMC itself has a sister locums Company And they hire reservists. I can buy myself out by shelling out 50K to my Locum company and join the sister company as locum.

Am waiting on other Locum jobs in New York State.

I would NOT stay for substantial less pay. I would NOT stay for being paid less than locum. Why would YOU stay for less pay and more work?

You’ve been there 18 months, hopefully you’ve made some relationships that will help. Let the hospital know you would like to stay and see if they can do something about it. If that’s what’s best for you.

Where are the old partners now? Who’s paying them?

It sounds like a shiiiitt show no matter how you slice it. I would ask for a hourly rate and have the AMC to deal with schedules and managing daily stuff. Like you said, they will control all the rooms, why would they give you high unit rooms? Also calls, are they going to give you a stipend for taking beeper calls?

I have so many questions. There are too many red flags.

You don’t have to answer anything. Save up some time and energy to find a good lawyer who can negotiate for you. Good luck op.

Edit: premier?
 
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Why does this thread read like a poster trying to rationalize cutting his finger off to everyone?
 
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Trying to get a lot in writing as I find myself ending up in dead end and bad situation. Sometimes I wonder why I would get myself into a bad job? Does this happens to others.
No premium for doing calls more than once a week except the 45$/ a unit. That is being touted as being high. Honestly I want to do my part and not invest heavily into anything. Retention bonus, never thought of that may be great idea. The other options are the county hospital(. They have both trauma, OB and CRNA) to contend with.
Dignity health. Don’t know if they are even recruiting.

If you can’t get premium for call pay, forget it. This is what they do- run short, and make everyone else pick up the slack for nothing. Call nights should be paid on top so if they’re not guaranteeing in writing your required call or giving you a healthy stipend for taking extra, do not take this job.
 
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AMCs routinely promise the moon and stars but rarely ever deliver. Instead, they will run the providers very lean or short staffed and make you pick up the slack for free. This means more rooms to cover, longer days and most likely more call Including weekends/holidays. AMCs are not to be trusted and if it isn’t spelled out in the contract then they don’t owe it to you. No matter what they verbally tell you the fact is they don’t have to honor it so make sure you have it all in your contract.
 
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Guess the job market is that tight now...
Ok. I get this job is a bad one. And honestly I think the AMC will soon be desperate to get rid of all the locums and get FTE. But unable to. The hospital 20 minutes away has the same AMC for 6 months to a year before my hospital went with the same AMC and merged with the other hospital. (Long story but Kaiser is competing and trying to put these small hospitals out of business or join Kaiser).sorry I digress. The AMC cannot fill the Anesthesia full time in the other hospital yet.

Unfortunately I cannot work at the other hospital because AMC has to buy me out of Locum. A lot of good posts here have revealed potential drawbacks, and I have resisted working for AMC. Short of Moving out of state, and even then may not be able to get out of the clutches of AMC.

The next question is how much gap can I afford have in my CV? Is it 3 months? 6 months? Who is going to cover my malpractice if I have a huge gap in my work history? That might decrease my Future chances of even landing a job let alone compensation negotiations. It’s not that I need the income right away but my future Potential ability to earn

A lot to consider before you consider Locums.
 
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Ok. I get this job is a bad one. And honestly I think the AMC will soon be desperate to get rid of all the locums and get FTE. But unable to. The hospital 20 minutes away has the same AMC for 6 months to a year before my hospital went with the same AMC and merged with the other hospital. (Long story but Kaiser is competing and trying to put these small hospitals out of business or join Kaiser).sorry I digress. The AMC cannot fill the Anesthesia full time in the other hospital yet.

Unfortunately I cannot work at the other hospital because AMC has to buy me out of Locum. A lot of good posts here have revealed potential drawbacks, and I have resisted working for AMC. Short of Moving out of state, and even then may not be able to get out of the clutches of AMC.

The next question is how much gap can I afford have in my CV? Is it 3 months? 6 months? Who is going to cover my malpractice if I have a huge gap in my work history? That might decrease my Future chances of even landing a job let alone compensation negotiations. It’s not that I need the income right away but my future Potential ability to earn

A lot to consider before you consider Locums.
Get occurrence based policies and you don't have to worry about gaps in work history or switching jobs. Gaps in work history honestly don't make a difference unless we are talking years. Easily explainable and no one seems to really care. You may have to shadow someone in certain groups when you come back but it's not for long.
 
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I can buy myself out by shelling out 50K to my Locum company and join the sister company as locum.

Am waiting on other Locum jobs in New York State.

Forgive me, but can you elaborate on this? Why the heck did you sign what seems to be a non-compete with a locums staffing company?
 
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Forgive me, but can you elaborate on this? Why the heck did you sign what seems to be a non-compete with a locums staffing company?
This Locum job that I started in Jan 2019 wanted all the locums provider to go through that particular Locum agency. In spring of 2020, the hospital changed hands, bought out/ merged with Adventist health. Then the AMC management company was given the contract. In the original Legalese, there is A 2 exclusivity Cause that I can work at this particular location only if I go Through that particular locums. If I did not wait for 2 years then the hospital/ AMC will have to shell out money to the Locum company, as they introduced me to that location.
 
Forgive me, but can you elaborate on this? Why the heck did you sign what seems to be a non-compete with a locums staffing company?
This Locum job that I started in Jan 2019 wanted all the locums provider to go through that particular Locum agency. In spring of 2020, the hospital changed hands, bought out/ merged with Adventist health. Then the AMC management company was given the contract. In the original Legalese, there is A 2 exclusivity Cause that I can work at this particular location only if I go Through that particular locums. If I did not wait for 2 years then the hospital/ AMC will have to shell out money to the Locum company, as they introduced me to that location.
This shows how ignorant physicians are regarding their value, allowing themselves to be traded like a commodity. Meanwhile, even device reps (who have comparatively NO specialized training/abilities and their entire job is nothing more than their relationship with surgeons) don't even sign these kinds of BS documents.....one day they work for Zimmerer then Stryker the next). SMDH
 
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This shows how ignorant physicians are regarding their value, allowing themselves to be traded like a commodity. Meanwhile, even device reps (who have comparatively NO specialized training/abilities and their entire job is nothing more than their relationship with surgeons) don't even sign these kinds of BS documents.....one day they work for Zimmerer then Stryker the next). SMDH

I suggest always to pay a few hundred bucks to have a lawyer once over. Even though I didn’t do that for my last gig, since i thought it was a very short term thing. Also, I think all these locum companies/amcs just sell it as a “standard contract” that everyone signs. (Until you find out that everyone has some sort of side deal going on, but they don’t either put it in writing or not the main contract).

Maybe it’s also our smarter than thou attitude, so we don’t read the fine print?
 
I did not take that AMC job, however 4 other anesthesiologists have taken the bait In the mean time. I have an offer at Kaiser. Thanks for all the suggestions
 
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For someone who’s on the East coast and not 1099.

Can someone explain what’s the benefit of being a partner when you’re out West. Specifically with another job recently posted on this forum.

Do you get better blended rate? Better call rotation? Better schedule? Access of billing company? Do they pay differently as a partner and no longer a 1099?

Thanks.
 
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