How can a private practice compete with a hospital to pay a physiatrist’s salary?

Can a small private practice compete with a big hospital in physiatry compensation?  A small private practice I’m helping to recruit a physiatrist for recently found that the compensation they offered a doctor candidate was much less than a hospital offered the doctor candidate.  Their concern is how a small private practice can compete with a hospital in paying a salary for a physiatrist.  One method is for the private practice to ask their local hospital to pay the salary for a period of time.  This is a typical request because it usually takes a practice a few months to a year before it has sufficient receipts from the new doctor’s work to cover the salary.  Another option is that the private practice obtain a line of credit to pay the salary.  This option ensures that the private practice is not beholden to their hospital.  -Assistance with this information was provided by Elizabeth Lee, President, Physiatry Reimbursement Specialists, Inc., A National Company serving Physiatrists all over the U.S. for 20 years, Fort Worth, TX, 1-800-324-4777, 817-284-9850, www.Prsinc.com

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