Physician Contract Compensation Tips

Summary

When evaluating production-based compensation in physician employment contracts, consider the compensation formula, performance metrics, and payment timing. Ensure benchmarks are clear and attainable, and compare the offered compensation with industry standards. For internal medicine PCPs, percentages like 47% for $200,000-$300,000 and 51% for $400,000+ can be competitive, but its important to consider regional norms and specific duties. Additionally, ensure there are clear guidelines for handling compensation disputes.

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Can I show you one and see what you think?
Sure, Dallin! While I can't review contracts directly, I can definitely provide you with important points to consider.
- Non-compete clauses
- Compensation and benefits
- Termination conditions
- Work hours and on-call requirements
- Malpractice insurance
What specific aspects of the contract are you concerned about?
What are things to look out for for production based compensation?
Hey Dallin! Here are some key points to consider for production-based compensation in physician employment contracts:
- Compensation Formula: Understand how your productivity will be measured (e.g., RVUs, patient encounters, collections).
- Performance Metrics: Check if the metrics are reasonable and achievable.
- Payment Timing: Know when you will be paid for your production.
- Benchmarks: Ensure benchmarks are clear and attainable.
- Adjustment Periods: Be aware of any adjustment periods for compensation changes.
Do you have any specific concerns or clauses in the contract related to these points?
I don't know if what they're offering is fair
Case Rating: *
It sounds like you have some concerns about the fairness of the production-based compensation in your employment contract. Here are a few additional points to consider:
- Compare with industry standards and averages.
- Consider potential for growth and consistency of work.
- Ensure clarity on how disputes over compensation will be handled.
Would you like to provide more details about the specific terms or numbers in your contract?
My per paychek will be */24th of a percentage of net revenue (*% for *,*-*,*, *% of *,*+), for internal medicine PCP does that seem fair?
Case Rating: *
Hey Dallin! Comparing your compensation structure with industry standards:
- Compensation Levels: *% for $*,*-$*,*, *% for $*,*+ seems competitive, but it depends on regional norms and your specific duties.
- Consistency and Growth: Consider expected patient volume and revenue patterns.
- Dispute Resolution: Ensure there are clear guidelines for handling compensation disputes.
Have you compared these percentages with average compensation rates for similar positions in Arizona?