Welcome to the real world

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Welcome to the real world

  1. 1. Welcome to the Real World! True Democracy in Emergency Medicine
  2. 2. Emergency Medicine Practice Groups • Insert Q C group photo
  3. 3. Types of Practices • Hospital employees • Independent contractors • Democratic groups
  4. 4. Hospital Employees • Freedom from self- employment taxes • Enjoy benefits packages • Freedom from administrative duties • Freedom from personal investment and financial risk
  5. 5. Hospital Employees • Subject to the will of the employer regarding type and manner of work done • Surrender the right to control their professional fees and terms of employment • Insert photo
  6. 6. Independent Contractors • Freedom from administrative duties • Greater freedom of movement
  7. 7. Independent Contractors • Must meet and adhere to numerous IRS guidelines • May be contractually obligated to surrender due process and be subject to restrictive covenants • May find portions of their fees distributed to laypeople including corporate executives and shareholders
  8. 8. When someone else owns your business… • The 1996 Annual Report and the Notice to the Shareholders of the 1997 Annual Meeting for a large non-democratic EM group detailed the following: • A profit of $39.8 million on 140 ED contracts • 90% of revenue was from physician professional fees • Seven of the nine directors and top shareholders were laypeople
  9. 9. Democratic Groups • The IDEAL practice for emergency medicine • Provides opportunity to be a member of a group equally owned by physicians • Each physician has a voice and is involved in developing business strategy, negotiating contracts, and enhancing performance improvement • Control over professional fees • Pride in ownership and opportunity for personal and financial growth • Insert 2 pictures: our group and party
  10. 10. Democratic Groups • Potential personal liability for the fiscal health of the company • Requires investment • Business acumen not typical among physicians
  11. 11. Compensation Models • Hourly • Salary • Incentive-based
  12. 12. Hourly & Salary • Guaranteed rate • Low variance between paychecks • No incentive to work hard • Strife between unequal “producers” • Picture clock/assembly line
  13. 13. Incentive-Based • Rewarded for hard work • Positively impacts performance metrics and throughput • Variation in paychecks • Volume/Acuity dependent • Content doc Picture
  14. 14. What’s an RVU? • Add definition
  15. 15. Potential Benefits • Health Insurance • 401K • Disability • CME allowance • Business reimbursement • Professional dues • Malpractice • Picture
  16. 16. Malpractice Insurance Claims-Made Occurrence
  17. 17. Questcare… An excellent choice in a company and lifestyle!
  18. 18. Company Stability • Stable, long-term contracts • Continuous exploration of growth opportunities • Dedicated to world-class patient care • Excellent support staff • Innovative leadership
  19. 19. Compensation and Benefits • Competitive pay structure • Paid occurrence malpractice (No Tail Required!) • Paid long-term disability insurance • Paid ACEP dues • Excellent 401K with ROTH option • Health and Dental Insurance – HSA option, Flexible Spending Accounts • Partnership opportunity
  20. 20. Partner Track • 2 year track • Regular 6 month evaluations • Low buy-in • 10% raise after making partner PLUS equal profit distribution • One partner…One vote • Eligible to run for Board
  21. 21. Non-Clinical Opportunities • Leadership Opportunities – Local ED Group – Hospital-based committees – Leadership Track • Questcare Committees – Finance – Risk – Social/Teambuilding – Legislative • Questcare Foundation • Insert team pics
  22. 22. Job Satisfaction • Questcare DocAssist (scribe program) • Midlevel support • Wide variety of practice environments • Strong relationships with Administration and Nursing • Optimized staffing models • Cutting-edge Technology
  23. 23. Technology • State of the art facilities • Electronic documentation • Electronic bedside registration • Digital radiology • Bedside labs • Electronic medical records
  24. 24. Telemedicine • Extends hospital specialist coverage • Piloting EMS telemedicine
  25. 25. iPhone apps
  26. 26. Questcare Web-based Resources • Questcare intranet • Emergency Medicine education materials • Peer review cases • LLSA articles • Web conferencing meetings
  27. 27. Community Offerings • Tort Reform • Low cost of living • Stable housing market • No State Income Tax • Pleasant climate • Excellent schools • Major airports • All major sports • Performing Arts Centers and Museums • Excellent restaurants and shopping • DFW pics
  28. 28. Partners = Friends • QC pictures
  29. 29. For More Information… Questcare Partners www.questcare.com (214) 217-1911
  30. 30. Valuable Links • EMRA article • EmCare lawsuit link • Brown-gupta article • Deeppocket website link

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