Practice Management

What benefits should you expect at your job?  The very basic benefits are malpractice, vacation, health insurance cost, and CME cost and travel. Malpractice and 1 week of CME to include the associated travel expense are standard.  The amount of vacation and health insurance vary.  I’d say the average vacation is 3 weeks.  Health insurance coverage varies from providing it just for the employee to providing it in full for the family.  Additional benefits include sick time, student loan assistance, a sign-on bonus, dental and vision insurance, life insurance, disability insurance, a retirement savings plan, a flexible spending account, long [ . . . ]

There are several considerations when deciding whether to add a new physiatrist.  First, are you ready financially to pay for a new doctor?  Has your practice or hospital census reached the point where adding someone is financially feasible?

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I’m sometimes asked what financial guarantee our company offers in cases when a new doctor doesn’t work out. This makes me write about why new doctors leave. It’s frustrating, costly and difficult when a new doctor leaves a practice or hospital after intensive interviewing, reference checking, etc. has occurred. Many hospitals and practices are now using psychological questions to try to reduce situations when doctors leave early.

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Generally speaking, physiatrists have a very low overhead when practicing on their own. However, when you get into the multispecialty arena, and orthopedists are involved, the overhead skyrockets. Since physiatrists do not need alot of ancillary services, and your equipment is fairly low budget in comparison to surgeons, this should be reflected in what your share of the overhead is. Unfortunately, what happens over and over again, is that you end up sharing the overhead equally with the other physicians, but do not necessarily reap the same profits.

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