This document provides guidance on how to evaluate a neurology practice opportunity. It discusses priorities like location, practice development potential, relationships, and compensation. Common mistakes in choosing a job like focusing too much on geography or ignoring politics are outlined. Different compensation models depending on employer type like independent practice versus hospital are compared. The document advises neurologists on questions to ask during interviews and site visits, as well as when to discuss compensation details. Overall, it aims to help neurologists properly assess practice opportunities and choose the best job fit.
The document discusses the history and development of Relative Value Units (RVUs), which were created in 1985 as a standardized way to determine physician payments. RVUs take into account the physician work, practice expenses, and malpractice expenses associated with each medical service. Each service is assigned RVUs that are multiplied by a conversion factor to calculate payments. RVUs were implemented for Medicare payments in 1992 and are still used today, though physician payment models have evolved over time with value-based payments becoming more common.
APP- Advanced Practice Providers: Nurse Practitioner and Physician Assistant ...Jill Gilliland
Nurse Practitioner and Physician Assistants thrive when Advanced Practice Provider (APP) models include a leadership structure. Doctors, nurses, nurse practitioners, and physician assistants are working collaboratively all over the United States to improve three critical needs in healthcare delivery. These needs are to increase access to care, improve the quality of care, and to reduce in the overall cost of care to the system. It has been a gift to observe the innovation and evolution of the nurse practitioner and physician assistant roles. A few of the healthcare settings that have reaped the benefit of adding the role of the nurse practitioner and physician assistant to the patient care team are hospital acute and critical care units as well as outpatient clinics. Healthcare is not an inherently nimble industry, especially in the hospital setting. However, through the efforts, hard work, and initiative of doctors, nurse practitioners, and physician assistants we are seeing a positive impact for the patient. The additional of leadership and a structure to recruit, retain, and optimize a sustainable environment is the key to success. Happy to discuss, Jill Gilliland, www.melnic.com
Merritt Hawkins 2016 Physician, PA and Nurse Practitioner Recruiting IncentivesMerritt Hawkins
An Overview of the Salaries, Bonuses, and Other Incentives Customarily Used to Recruit Physicians, Physician Assistants and Nurse Practitioners. For a full copy of the survey, click here: http://bit.ly/1UF1BqJ
This document provides information about the neurology outpatient department (OPD) at AIIMS, Delhi. It includes details about appointment procedures, investigation tests available, clinic schedules, and referral processes. Key points:
- Appointments can be booked online, through phone or mobile app for registered and new patients.
- Neurology OPD is located on the ground floor and operates from 8:30am-1pm on designated days for each unit.
- Various investigation tests like EEG, EMG and blood tests can be booked at specified counters with appointments.
- Patients may be referred to neurosurgery, psychiatry or other OPDs based on condition.
This document discusses several common sayings related to compensation and challenges some of the assumptions behind them. It addresses sayings such as "a job is only worth so much", "people leave jobs for more money", and that higher education jobs are unique. The document argues that while organizations need to limit what they pay for jobs, all factors that make a job necessary should be reflected in compensation. It also notes that people often leave jobs for reasons beyond pay, such as poor management. The document provides suggestions for establishing objective compensation practices and finding external market matches for job salaries.
Google provides comprehensive benefits to employees that go beyond traditional benefits. They aim to remove barriers for employees to focus on their work and personal lives. Benefits include paid time off like 15+ vacation days annually, insurance benefits such as health insurance and death benefits, and personal services like legal advice, tuition reimbursement, and commuting buses. The goal is to care for the whole employee, physically, emotionally, financially, and socially, and to support employees and their families at all life stages.
Dr. Tuan Nguyenduy is a cardiothoracic surgeon at Spartanburg Regional Healthcare System who became interested in cardiac surgery after observing an open-heart surgery in medical school. He completed medical school, 5 years of general surgery residency, 2 years of cardiothoracic surgery fellowship, and obtained board certification in both general and cardiothoracic surgery. A typical day involves seeing patients one day a week in the office and operating the other four days, finding the most challenging and satisfying aspects to be handling unexpected situations critically and helping patients recover.
The document discusses the history and development of Relative Value Units (RVUs), which were created in 1985 as a standardized way to determine physician payments. RVUs take into account the physician work, practice expenses, and malpractice expenses associated with each medical service. Each service is assigned RVUs that are multiplied by a conversion factor to calculate payments. RVUs were implemented for Medicare payments in 1992 and are still used today, though physician payment models have evolved over time with value-based payments becoming more common.
APP- Advanced Practice Providers: Nurse Practitioner and Physician Assistant ...Jill Gilliland
Nurse Practitioner and Physician Assistants thrive when Advanced Practice Provider (APP) models include a leadership structure. Doctors, nurses, nurse practitioners, and physician assistants are working collaboratively all over the United States to improve three critical needs in healthcare delivery. These needs are to increase access to care, improve the quality of care, and to reduce in the overall cost of care to the system. It has been a gift to observe the innovation and evolution of the nurse practitioner and physician assistant roles. A few of the healthcare settings that have reaped the benefit of adding the role of the nurse practitioner and physician assistant to the patient care team are hospital acute and critical care units as well as outpatient clinics. Healthcare is not an inherently nimble industry, especially in the hospital setting. However, through the efforts, hard work, and initiative of doctors, nurse practitioners, and physician assistants we are seeing a positive impact for the patient. The additional of leadership and a structure to recruit, retain, and optimize a sustainable environment is the key to success. Happy to discuss, Jill Gilliland, www.melnic.com
Merritt Hawkins 2016 Physician, PA and Nurse Practitioner Recruiting IncentivesMerritt Hawkins
An Overview of the Salaries, Bonuses, and Other Incentives Customarily Used to Recruit Physicians, Physician Assistants and Nurse Practitioners. For a full copy of the survey, click here: http://bit.ly/1UF1BqJ
This document provides information about the neurology outpatient department (OPD) at AIIMS, Delhi. It includes details about appointment procedures, investigation tests available, clinic schedules, and referral processes. Key points:
- Appointments can be booked online, through phone or mobile app for registered and new patients.
- Neurology OPD is located on the ground floor and operates from 8:30am-1pm on designated days for each unit.
- Various investigation tests like EEG, EMG and blood tests can be booked at specified counters with appointments.
- Patients may be referred to neurosurgery, psychiatry or other OPDs based on condition.
This document discusses several common sayings related to compensation and challenges some of the assumptions behind them. It addresses sayings such as "a job is only worth so much", "people leave jobs for more money", and that higher education jobs are unique. The document argues that while organizations need to limit what they pay for jobs, all factors that make a job necessary should be reflected in compensation. It also notes that people often leave jobs for reasons beyond pay, such as poor management. The document provides suggestions for establishing objective compensation practices and finding external market matches for job salaries.
Google provides comprehensive benefits to employees that go beyond traditional benefits. They aim to remove barriers for employees to focus on their work and personal lives. Benefits include paid time off like 15+ vacation days annually, insurance benefits such as health insurance and death benefits, and personal services like legal advice, tuition reimbursement, and commuting buses. The goal is to care for the whole employee, physically, emotionally, financially, and socially, and to support employees and their families at all life stages.
Dr. Tuan Nguyenduy is a cardiothoracic surgeon at Spartanburg Regional Healthcare System who became interested in cardiac surgery after observing an open-heart surgery in medical school. He completed medical school, 5 years of general surgery residency, 2 years of cardiothoracic surgery fellowship, and obtained board certification in both general and cardiothoracic surgery. A typical day involves seeing patients one day a week in the office and operating the other four days, finding the most challenging and satisfying aspects to be handling unexpected situations critically and helping patients recover.
The document discusses career planning and provides tips for effective career planning. It defines career planning as an ongoing process that involves setting short, intermediate, and long term goals based on one's skills, interests, and the current job market. It also lists 10 tips for career planning, which include never stopping learning, asking questions and listening to others, fulfilling one's current job responsibilities, building a professional network, properly identifying one's current and dream jobs, preparing for opportunities, using the right tools, and putting dreams into action.
Career changes later in life are becoming more common as jobs are less stable. Reasons for career changes include feeling stuck, wanting better skills utilization, or changing life circumstances. Assessing one's skills, interests, values, and motivations can help define a new career direction. Tips for career changers include researching options, networking, and identifying transferable skills to create a career vision and professional objective. While younger workers change jobs more, career changes at any age are possible with the right preparation and motivation to learn new skills.
The Future of Employee Benefits: Trends to Retain and Attract Top TalentAggregage
https://www.compandbenefitstoday.com/frs/23182614/the-future-of-employee-benefits--trends-to-retain-and-attract-top-talent/email
The employee benefits landscape has changed significantly since the pandemic. As a result, benefits products and services have evolved and will continue to do so. Employee preferences are also evolving. How do you find the balance between equity, diversity, alignment, and affordable benefits? The key to employee retention and attraction in this new era is a holistic approach to your total rewards strategy.
Join Sharell Thomas-Hodge, total rewards director and consultant, for this engaging and informative conversation.
Learning objectives:
• Examine the latest benefits trends and innovations
• Review what best practice actually looks like and how your organization can achieve it
• Explore cost-effective options that provide competitive benefits that will retain and attract talent
When was the last time you took part in an interview as a candidate? Are you ready for unexpected questions? Should you wait to be contacted or try calling the interviewer after the interview? You will find the answers to those and other questions in the our Interview Guide.
The document discusses coaching services offered by Abundance Coaching to help organizations restore values and principles. It notes that firing employees is not the solution to productivity issues, and that coaching can improve communication, cooperation and understanding within an organization. The coaching services focus on training employees in key areas like character, vision, courage and leadership using a customized approach. The benefits highlighted include increased job satisfaction, productivity and commitment as well as a stronger bottom line.
I want to get into the health care fieldintervietips
This document provides advice on negotiating salaries and discusses factors that influence salaries in different careers and locations. It recommends researching typical salaries for your field based on location, experience level, and job responsibilities. Key tips include focusing the discussion on your value and qualifications rather than personal financial needs, and being willing to compromise while also knowing your bottom line. Overall, the document aims to help readers understand how to determine a reasonable salary request and successfully negotiate to obtain fair compensation.
This document provides advice on career planning and job searching for emergency medicine physicians. It discusses important factors to consider such as location, compensation structure, work environment, equity and ownership opportunities. It warns of potential pitfalls like lack of tail coverage, delayed or vested retirement benefits, unclear ownership and compensation structures. It emphasizes the importance of asking questions about contracts, non-competes, incentive pay and fairness in benefits. The overall message is to carefully research potential jobs and consider your priorities to avoid common problems and set yourself up for long term career success and wealth building.
This document provides a guide for clinics on hiring GPs. It discusses key considerations for the remuneration package, market rates that will attract doctors to metropolitan, regional and rural areas, additional inclusions that make a package more attractive, common timeframes for securing permanent and locum doctors, pitfalls to avoid, and how an expert recruitment agency like MedRecruit can help fill a vacancy.
1. The document provides an introduction to accounting and explores careers in accounting and the world of business. It discusses how personal skills and interests affect career choices and describes different types of businesses and organizations that hire accountants.
2. The document then examines the role of profit, risk-taking, and entrepreneurship in business. It describes the three main types of business operations and three forms of business organization. The importance of accounting for both internal and external users is discussed.
3. Finally, the document presents an ethics case study involving an employee considering starting their own competing daycare business using ideas from their current employer. It prompts the reader to consider the ethical issues and impacts on stakeholders.
looking for wound care specialists who want to help save lives, save limbs while also enhancing bottom lines.
this is a passion project we are here to offer solutions for those who need support in woundcare.
if you are wound care provider and need support with helping patients heal feel free to contact us so that we can give you a private one on one presentation where we can help customize a solution for you.
we are all about solutions - there is a way to help your patients #woundcare .
this is a passion project
Build it | Glenn Elliott & Debra Corey | A guide to the best Employee Engagem...Muhammad Nizam Uddin
Build It: The Rebel Playbook for World Class Employee Management by Glenn Elliott (A software engineer by training and MBA drop out by choice, it took a ten-year corporate career for him to understand how employee disengagement feels.) & Debra Corey (Author, speaker, global rewards director and employee engagement rebel).
The document provides information about Design & Construct, a recruitment agency that specializes in placing candidates in design and construction roles. It outlines the agency's services for both job seekers and clients, including resume preparation tips, interview advice, guidance on receiving job offers and counteroffers, and tips for resigning from a position. Design & Construct aims to foster long-term relationships and act with professionalism and confidentiality.
Setting Business Expectations,Terms, and Guidelines for SuccessJames Dalman
Freelancers need to set clear rules and expectations for their clients and business. This includes setting payment terms, rates, and policies; defining the scope and expectations of projects; dealing with conflicts; and executing on business goals. Freelancers should also maintain work-life balance and boundaries when working from home. Setting guidelines protects both the freelancer and client from misunderstandings.
Identify strategies to grow your dental practice. Get our step-by-step guide to focus on improving how you run your business.
This is the tip of the iceberg in our 4 phase advising program for all dentists.
http://success.fourpercentdental.com/5-strategies/
Overcoming the Barriers to Employment, EmployabilityThe Pathway Group
Overcoming the Barriers to Employment (Employability) will help you to understand the barriers that you or others may face when seeking employment. Seeking employment can be stressful and most people will react in different ways. The most important thing is to identify the issues in regards to employability and improve these areas to increase the chance of employabilty.
If you would like to find out more about our pre-employment training, employability training or apprenticeships and traineeships please call us on: 0121 707 0550 or e-mail: info@pathwaygroup.co.uk
The document outlines a presentation for retaining talent at Emaar PJSC. It discusses introducing strategic onboarding, clear career paths, desired perks, scheduled raises, and a relationship-building culture. Short term recommendations include stay interviews to understand retention issues. Long term recommendations are mentor partners to assist new employees and unlimited paid time off to increase job satisfaction. The presentation is meant to address why employees often leave within a few years and implement solutions to improve retention.
Whether you’re in your first year of university or your last, the time to start planning your career is now. Learn how to prepare and make the most of your time at university in 8 steps, so that by the time you’re ready to graduate, you’re ready to launch straight into a successful career.
From learning how to decide what type of job, employer and workplace you want, to how to sell yourself and make valuable connections by networking, these tips will help uni students and graduates be prepared for the world of work and to find their place within it.
Planning for a successful career never stops. Once you’ve taken the 8 steps listed here, there are a number of other resources you can check out further advice on USQ’s Social Hub and USQ’s career resource centre, Career Hub.
Get Real with Your Job Search ExpectationsKelly Services
The document provides advice on setting realistic expectations during a job search. It recommends researching your market value, tailoring applications to specific roles, and considering less traditional job types. Broadening your definition of a "job" can expose you to more opportunities that utilize your skills in new fields or industries. While experience is important, education combined with work experience allows you to advance further in an organization.
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The document discusses career planning and provides tips for effective career planning. It defines career planning as an ongoing process that involves setting short, intermediate, and long term goals based on one's skills, interests, and the current job market. It also lists 10 tips for career planning, which include never stopping learning, asking questions and listening to others, fulfilling one's current job responsibilities, building a professional network, properly identifying one's current and dream jobs, preparing for opportunities, using the right tools, and putting dreams into action.
Career changes later in life are becoming more common as jobs are less stable. Reasons for career changes include feeling stuck, wanting better skills utilization, or changing life circumstances. Assessing one's skills, interests, values, and motivations can help define a new career direction. Tips for career changers include researching options, networking, and identifying transferable skills to create a career vision and professional objective. While younger workers change jobs more, career changes at any age are possible with the right preparation and motivation to learn new skills.
The Future of Employee Benefits: Trends to Retain and Attract Top TalentAggregage
https://www.compandbenefitstoday.com/frs/23182614/the-future-of-employee-benefits--trends-to-retain-and-attract-top-talent/email
The employee benefits landscape has changed significantly since the pandemic. As a result, benefits products and services have evolved and will continue to do so. Employee preferences are also evolving. How do you find the balance between equity, diversity, alignment, and affordable benefits? The key to employee retention and attraction in this new era is a holistic approach to your total rewards strategy.
Join Sharell Thomas-Hodge, total rewards director and consultant, for this engaging and informative conversation.
Learning objectives:
• Examine the latest benefits trends and innovations
• Review what best practice actually looks like and how your organization can achieve it
• Explore cost-effective options that provide competitive benefits that will retain and attract talent
When was the last time you took part in an interview as a candidate? Are you ready for unexpected questions? Should you wait to be contacted or try calling the interviewer after the interview? You will find the answers to those and other questions in the our Interview Guide.
The document discusses coaching services offered by Abundance Coaching to help organizations restore values and principles. It notes that firing employees is not the solution to productivity issues, and that coaching can improve communication, cooperation and understanding within an organization. The coaching services focus on training employees in key areas like character, vision, courage and leadership using a customized approach. The benefits highlighted include increased job satisfaction, productivity and commitment as well as a stronger bottom line.
I want to get into the health care fieldintervietips
This document provides advice on negotiating salaries and discusses factors that influence salaries in different careers and locations. It recommends researching typical salaries for your field based on location, experience level, and job responsibilities. Key tips include focusing the discussion on your value and qualifications rather than personal financial needs, and being willing to compromise while also knowing your bottom line. Overall, the document aims to help readers understand how to determine a reasonable salary request and successfully negotiate to obtain fair compensation.
This document provides advice on career planning and job searching for emergency medicine physicians. It discusses important factors to consider such as location, compensation structure, work environment, equity and ownership opportunities. It warns of potential pitfalls like lack of tail coverage, delayed or vested retirement benefits, unclear ownership and compensation structures. It emphasizes the importance of asking questions about contracts, non-competes, incentive pay and fairness in benefits. The overall message is to carefully research potential jobs and consider your priorities to avoid common problems and set yourself up for long term career success and wealth building.
This document provides a guide for clinics on hiring GPs. It discusses key considerations for the remuneration package, market rates that will attract doctors to metropolitan, regional and rural areas, additional inclusions that make a package more attractive, common timeframes for securing permanent and locum doctors, pitfalls to avoid, and how an expert recruitment agency like MedRecruit can help fill a vacancy.
1. The document provides an introduction to accounting and explores careers in accounting and the world of business. It discusses how personal skills and interests affect career choices and describes different types of businesses and organizations that hire accountants.
2. The document then examines the role of profit, risk-taking, and entrepreneurship in business. It describes the three main types of business operations and three forms of business organization. The importance of accounting for both internal and external users is discussed.
3. Finally, the document presents an ethics case study involving an employee considering starting their own competing daycare business using ideas from their current employer. It prompts the reader to consider the ethical issues and impacts on stakeholders.
looking for wound care specialists who want to help save lives, save limbs while also enhancing bottom lines.
this is a passion project we are here to offer solutions for those who need support in woundcare.
if you are wound care provider and need support with helping patients heal feel free to contact us so that we can give you a private one on one presentation where we can help customize a solution for you.
we are all about solutions - there is a way to help your patients #woundcare .
this is a passion project
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The document provides information about Design & Construct, a recruitment agency that specializes in placing candidates in design and construction roles. It outlines the agency's services for both job seekers and clients, including resume preparation tips, interview advice, guidance on receiving job offers and counteroffers, and tips for resigning from a position. Design & Construct aims to foster long-term relationships and act with professionalism and confidentiality.
Setting Business Expectations,Terms, and Guidelines for SuccessJames Dalman
Freelancers need to set clear rules and expectations for their clients and business. This includes setting payment terms, rates, and policies; defining the scope and expectations of projects; dealing with conflicts; and executing on business goals. Freelancers should also maintain work-life balance and boundaries when working from home. Setting guidelines protects both the freelancer and client from misunderstandings.
Identify strategies to grow your dental practice. Get our step-by-step guide to focus on improving how you run your business.
This is the tip of the iceberg in our 4 phase advising program for all dentists.
http://success.fourpercentdental.com/5-strategies/
Overcoming the Barriers to Employment, EmployabilityThe Pathway Group
Overcoming the Barriers to Employment (Employability) will help you to understand the barriers that you or others may face when seeking employment. Seeking employment can be stressful and most people will react in different ways. The most important thing is to identify the issues in regards to employability and improve these areas to increase the chance of employabilty.
If you would like to find out more about our pre-employment training, employability training or apprenticeships and traineeships please call us on: 0121 707 0550 or e-mail: info@pathwaygroup.co.uk
The document outlines a presentation for retaining talent at Emaar PJSC. It discusses introducing strategic onboarding, clear career paths, desired perks, scheduled raises, and a relationship-building culture. Short term recommendations include stay interviews to understand retention issues. Long term recommendations are mentor partners to assist new employees and unlimited paid time off to increase job satisfaction. The presentation is meant to address why employees often leave within a few years and implement solutions to improve retention.
Whether you’re in your first year of university or your last, the time to start planning your career is now. Learn how to prepare and make the most of your time at university in 8 steps, so that by the time you’re ready to graduate, you’re ready to launch straight into a successful career.
From learning how to decide what type of job, employer and workplace you want, to how to sell yourself and make valuable connections by networking, these tips will help uni students and graduates be prepared for the world of work and to find their place within it.
Planning for a successful career never stops. Once you’ve taken the 8 steps listed here, there are a number of other resources you can check out further advice on USQ’s Social Hub and USQ’s career resource centre, Career Hub.
Get Real with Your Job Search ExpectationsKelly Services
The document provides advice on setting realistic expectations during a job search. It recommends researching your market value, tailoring applications to specific roles, and considering less traditional job types. Broadening your definition of a "job" can expose you to more opportunities that utilize your skills in new fields or industries. While experience is important, education combined with work experience allows you to advance further in an organization.
Similar to How to Evaluate a Neurology Practice Opportunity (20)
1. T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
TARGETED NEUROLOGY RECRUITING
How to Evaluate a
Neurology Practice
Opportunity
2. T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
Today’s Topics
2
• Setting Your Priorities
• Common Mistakes in Choosing
a Job
• How to Compare Positions
• Compensation Structure and
Amounts
• Compensation Models
• Employment Models
• Interviewing
• Negotiating a Contract
• Questions?
3. T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
What they don’t teach in residency:
3
• How differences in practice and
employment structures impact your
control over your work environment
and your compensation.
• How to tell whether you can build a
successful practice in a particular
position.
• How different employers figure out how
much they are willing/able to pay a
neurologist.
• The risks and benefits of being
employed by a hospital vs. joining an
independent practice.
4. T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
What are your priorities?
Location, practice, people and $$
4
• Being happy with the location is critical. You can’t change the
location.
• However, if you can’t develop a sufficient volume within your
subspecialty, you will not stay, even if the location is fabulous!
Your work-life balance needs to be as important to them as it is to
you! You don’t want to get burned out!!
• If you can’t get along with the people, either you will leave or they
will leave!
• If you love your practice, your partners, and the place you live,
you will likely be satisfied enough with the money to stay!
5. T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
Choosing a Job: Common Mistake #1
5
Focusing on geography so much that you forget how
important it is to have a really good job.
I have a job on the
beach. I just can’t GET
to the beach.
6. T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
Choosing a Job: Common Mistake #2
6
Working with people you don’t
trust and thinking your contract
will protect you. A contract is
only as solid as the parties
signing it. A dishonest person
won’t care about a contract!
People sometimes do this because
they really want to be in a
particular location, or because a
position seems very lucrative.
Who wants a lousy job and a
lawsuit?
7. T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
Choosing a Job: Common Mistake #3
7
Ignoring difficult politics!
• Is there a conflict between the
hospital and the neurologists?
• Is there conflict between the doctors
in the practice?
• If politics may impact volume, talk
to the doctors who will be sending
you cases.
• If there has been turnover, call the
neurologist who has left the
practice, recognizing that there are
two sides to every story.
8. T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
Choosing a Job: Common Mistake #4
8
• Accepting a hospital-employed position without
understanding how your compensation will be set
when the initial term of employment is over.
• Questions to ask:
• How will raises be determined?
• Will they move you to a different compensation model in
the future?
• How will your performance be evaluated?
• How will your compensation be set when your contract is
up for renewal?
9. T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
9
Let’s talk about compensation….
What will your compensation depend on?
• Your clinical interests and expertise
• How busy you are
• Where you live
• Your employment model
Compensation data is available from many sources, and the MGMA is
widely recognized as the “Gold Standard” for benchmarking data.
There is very little subspecialty data available, but in our experience,
Neurocritical Care and Stroke neurologists generally make more than
others.
MGMA Starting Median Compensation:
2015: $250,000
MGMA Median Compensation:
2013: $265,443
2014: $268,925 – Academic: $189,226
2015: $269,936 – Academic: $197,000
10. T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
Comparing Jobs—Salary & Bonus Structure and
Amount Depends on Type of Employer
10
Compensation depends on who employs you:
an independent group practice or a hospital.
Join us! We’ll teach
you how to run your
practice!
Join us, and you
won’t need to run
your practice!
11. T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
11
Independent Practice: Pre-Partnership Comp
Practice-Sponsored: Salary plus bonus
• Salary and bonus are both often negotiable
• Understand bonus structure
• If you expect a certain compensation based on a base
salary and bonus, is that realistic?
• What is the partnership track?
• Money they pay you is coming out of their own
pocket! So they’re quite invested in your success!
12. T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
Long-Term Compensation Models:
Independent Private Practice
12
• Income-sharing
• Incentivizes collegiality
• Can be problematic if production
varies widely
• Expense-sharing, pure collections-
based
• Incentivizes production
• Can foster competition between
partners
• Part income-sharing, part
production
• Allows for development of less-
lucrative specialties
• RVU-based division of assets
• Advantageous when practice is
committed to serving indigent
population/no-pay patients
13. T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
Compensation Models: Hospital Employment
13
• Straight Salary
• Salary plus collections-based
bonus
• Salary plus RVU-based bonus
• Collections minus expenses
14. T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
14
Private Practice: What is an “Income Guarantee”?
• Federal law permits the Hospital to provide a forgivable loan
to the private practice so they can attract you if there is a
proven “community need” for a neurologist. That way the
private practice doesn’t have to take money out of their own
pocket to pay you.
• If the hospital needs to loan you money for you to make the
guarantee amount, the hospital will forgive the loan if you
continue practicing in the community for a certain defined
period of time.
15. T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
15
How does the “forgivable loan” work?
The forgiveness period is usually 2 years for every 1 year you are on the
guarantee. The forgiveness period may be negotiable.
Example based on 2 year forgiveness for each guaranteed year of income:
Year 1: Hospital pays you $300,000 for you to earn the guaranteed amount.
Then, in practice, you make $150,000, which goes directly to the hospital to
off-set your salary and expenses. The hospital forgives one quarter of your
loan.
Year 2: Hospital pays your $300,000 for you to earn the guaranteed
amount. Then, in practice, you work brings in $200,000, which again, goes
directly to the hospital to off-set your salary and expenses. The hospital
forgives one quarter of your loan.
So, in essence, you “owe” the hospital two more years of work (two years
of guarantee = four years of work).
Year 3: Hospital forgives one quarter of the loan
Year 4: Hospital forgives the last quarter of the loan. You are free and clear!
16. T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
Compensation Models: Academics
16
• May be Hospital-Employed
or Physician Practice
• Think about impact of
compensation structure on:
• Your ability to make a
living, especially if you are
in a less-lucrative
subspecialty
• Your ability to have
meaningful protected time
for research
• Your relationships with
others in your department
17. T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
Hospital Employment: Pros and Cons
17
• Pros
• No need to run your own practice
• You are likely to earn more $$ right away because hospital earns technical and
facility fees in addition to the professional fees.
• RVU or salary based structure makes payor-mix irrelevant
• You do not have to decide how to allocate revenues, overhead and expenses
between you and your partners.
• Cons
• You are employed and can be fired.
• Your agreement may change when your contract term is over.
• Changes in hospital administration may mean changes in your practice.
• You may have less control over which other neurologists are hired as your
colleagues.
• If you have a collections-based bonus, you do not control the collections
• You are less likely to have complete control over your mid-levels and other staff
18. T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
Independent Practice: Pros and Cons
18
• Pros
• Practice is likely to be well-established and offer mentorship.
• Ability to admit to more than one hospital may give you important leverage.
• You and your partners will control the vision/direction of your practice.
• You will generally have control over when you retire or choose to leave the
practice.
• You may be able to develop ancillary sources of revenue to protect you from
downturns in reimbursements.
• Cons
• Usually make less money to start.
• Need to run your own practice.
• Insurance status of patients will impact gross revenues to your practice.
• Reimbursements may impact the way you practice.
• Malpractice risk may impact the way you practice.
• Allocation of revenues, overhead and expenses between you and your partners may
cause conflict.
• Attempts to develop ancillary income sources may result in bad investments.
19. T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
Don’t “Miss the Forest for the Trees”
19
• Do you like the location?
• Can you develop a successful practice?
• Do you like the people?
• If you are happy with the location, the practice, and the people,
it is unlikely that you will want to leave just because of money.
20. T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
Proximity to Family?
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21. T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
Proximity to Family?
21
22. T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
The recruitment timeline
22
• Try to start between 12-18 months before the completion of your
training – Especially if you have visa considerations (If you require a
J1-visa waiver, you need to have signed your contract by August or
September of the year before the completion of your training!!)
• Try to have phone conversations with 8-10 practices to get an idea of
what you like and don’t like.
• Plan to visit 3-5 different practices to get a real feel for them.
• Ideally, when you decide it is time to make a decision, you will have
several contract offers in front of you! Starting early gives you many
advantages!
23. T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
Questions you can ask during the phone interview.
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• Do you mind telling me about your practice and what your needs are?
• What are you looking for in your new hire?
• Can you describe the culture of your practice? Do you mind sharing
your vision for the development of the practice?
• What types of patients are your neurologists currently seeing? Are you
trying to expand the scope of the practice or do you want someone to fit
into what your practice is currently doing?
• How many hospitals do you cover? What can you tell me about them?
24. T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
Questions you can ask on a site visit
24
• Can you tell me about what I will need to
do to successfully develop a practice
here? Where do your referrals currently
come from? How are new patients
allocated?
• Is anyone expected to retire?
• Has there been turnover in the practice?
Who left? Why?
• Can you tell me about the relationship
between the practice and its admitting
hospitals?
• Are there any ancillary income sources
for the practice?
• Is there MENTORSHIP available?
25. T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
When can you ask about money, vacation, and
benefits?
25
Focus the first visit on learning about the practice, the needs of the group, and
getting to know the people.
At the second visit, it’s appropriate to ask about money
Vacation and benefits will become clear when you receive your offer. If it isn’t
clear, you can clarify it then.
26. T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
Ask Questions About Support for the Practice
26
• Is the practice run efficiently?
• Does the hospital or practice have all the equipment that is
needed to develop the practice you want?
• Is call appropriately consultative in nature? Who admits the
patient?
• Are they set up to allow you take advantage of advances in
medical technology (eg, remote monitoring)
• Are there intensivists and/or hospitalists?
• Are there mid-levels and how are they used?
27. T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
Negotiating a Contract: Part of the Interview Process
27
The contract negotiation is really the last step in the interview
process.
This goes both ways: If you are unreasonable, your offer may be
revoked. If they are unreasonable, you won’t join them.
The WHOLE Northern
Hemisphere?
Really?
“Our non-compete clause
prohibits you from
practicing in the Northern
Hemisphere…
…Forever”
28. T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
Take-Home Points
28
• Focus on your ability to practice in a supportive
environment in an acceptable location
• Learn about local practices and hospital politics
• Consider your professional goals and values
• Think long term about compensation; a big short-term
guarantee is not a good deal if you will have to move.
• Don’t contract with someone you don’t trust!
29. T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
T A R G E T E D N E U R O L O G Y
R E C R U I T I N G
Thank you all very much!
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Questions?