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Employment issues

Discussion in 'Introductions' started by Poss, Mar 9, 2011.

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  1. Poss

    Poss Welcome New Poster


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    Hi,
    My first foray into this world, so I hope I make sense. I have had a look through the table of contents and could not find anything to match my query, xcuse my ignorance if i have - and redirect me.

    I am well established practitioner who has worked alone and due to illness have decided to employ a new Grad. I am after some advice from anyone willing to give me the benefit of their prior experiences. I was thinking along the lines of commision as this,I have been lead to believe is the easier option.
    I have all the equipment etc available.

    Any advice would be greatly recieved.
    Many Thanks
    Poss
     
  2. docmoney

    docmoney Member

    paying him 40% of his billing is a minimum standard- for most areas in country. 45-50% would be more generous on your part if the practice overhead can be managed with that percentage.

    others have paid 35% but that does not create a positive environment for the new doctor and he will most likely leave soon if you low ball him to that amount.

    others have paid a straight salary of $75-80K starting with paid malpractice which should be low for 1st year then up to $90-100K for second as long as patient volume is maintained or hopefully grows. (if your patient volume can sustain this in the 1st place)

    Please, tell him how long you wish to employ him for and what is the long-term outlook for working with you. (maybe you may just need him to fill in until you get better)

    or if your health doesn't improve you may consider selling to him with a buyout plan over 3-4 years.

    Too many of our colleagues simply use up a new grad, get rid of him when they are not needed anymore.

    young grads probably are starting families and wish to find a long term plan for their career.

    whatever you have to offer just be upfront with it and hopefully it will work out for you

    -good luck, hope your illness is temporary
     
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