- Joined
- May 2, 2017
- Messages
- 19
- Reaction score
- 7
Looking for everyone’s opinion on the following offer:
I have the opportunity to start a Pain Management practice for a large, multispecialty organization located in the Northeast. The group is composed of multiple different primary care and specialty practices (over 400 physicians-no Orthopedics or Neurosurgery) and I would be part of the Radiology Department (IR and Diagnostic Rads). The group is part of an MSO and there is no physician ownership of the practices.
As I will be building the practice, I will have the ability to design it however I like. I was told that I can choose to be as busy or unbusy as I like so long as I cover salary/benefits and overhead. My plan would be for an interdisciplinary practice utilizing their many other in-house service lines, minimal opioid management, bread and butter procedures, and some SCS trials. Procedures to be performed in office only and they already have the necessary equipment (C-Arm, Ultrasound, RF generator). Relatively good payor mix (less than 15% MCare/MCaid) with good contracts with private insurers (2x MCare). I am told that they have a long referral list of MSK pain patients that are currently being referred outside of the organization, so I would be busy right away. They are also encouraging me to advertise the practice in the community and understand that this will be done during clinical hours. This would be a full time position (5 days per week, no nights or weekends) and I decide my own hours. Primary call responsibility will be handled by Midlevel providers from the IR department.
The offer is $400k base with $50k sign-on bonus and full benefits. Contract is for 1 year and automatically renews yearly with $25k retention. I asked for a productivity bonus structure, however, I was told that they want to see my collections over the first year to determine this structure.
It seems like a relatively unique opportunity in that I will be able to practice how I like with support from their large organization without hospital admin oversight. I am a bit hung up on the fact that I won’t have a defined productivity bonus structure, especially considering there is no opportunity for equity for my practice-building efforts. I do get good vibes and trust their assurances. But even if they do make me a productivity structure down the line, who is to say it would be a favorable one?
Looking for everyone’s thoughts on the deal and advice on how to proceed. Should I push for the bonus structure to be defined in the contract at the risk of tanking the offer? Should I ask that the contract include language that the bonus structure is to be determined at a fixed point in time? Or accept the offer as is and consider that this may turn out to be more of a lifestyle position?
I have the opportunity to start a Pain Management practice for a large, multispecialty organization located in the Northeast. The group is composed of multiple different primary care and specialty practices (over 400 physicians-no Orthopedics or Neurosurgery) and I would be part of the Radiology Department (IR and Diagnostic Rads). The group is part of an MSO and there is no physician ownership of the practices.
As I will be building the practice, I will have the ability to design it however I like. I was told that I can choose to be as busy or unbusy as I like so long as I cover salary/benefits and overhead. My plan would be for an interdisciplinary practice utilizing their many other in-house service lines, minimal opioid management, bread and butter procedures, and some SCS trials. Procedures to be performed in office only and they already have the necessary equipment (C-Arm, Ultrasound, RF generator). Relatively good payor mix (less than 15% MCare/MCaid) with good contracts with private insurers (2x MCare). I am told that they have a long referral list of MSK pain patients that are currently being referred outside of the organization, so I would be busy right away. They are also encouraging me to advertise the practice in the community and understand that this will be done during clinical hours. This would be a full time position (5 days per week, no nights or weekends) and I decide my own hours. Primary call responsibility will be handled by Midlevel providers from the IR department.
The offer is $400k base with $50k sign-on bonus and full benefits. Contract is for 1 year and automatically renews yearly with $25k retention. I asked for a productivity bonus structure, however, I was told that they want to see my collections over the first year to determine this structure.
It seems like a relatively unique opportunity in that I will be able to practice how I like with support from their large organization without hospital admin oversight. I am a bit hung up on the fact that I won’t have a defined productivity bonus structure, especially considering there is no opportunity for equity for my practice-building efforts. I do get good vibes and trust their assurances. But even if they do make me a productivity structure down the line, who is to say it would be a favorable one?
Looking for everyone’s thoughts on the deal and advice on how to proceed. Should I push for the bonus structure to be defined in the contract at the risk of tanking the offer? Should I ask that the contract include language that the bonus structure is to be determined at a fixed point in time? Or accept the offer as is and consider that this may turn out to be more of a lifestyle position?
