Academic opportunities in: MS, NC, OHEMG’s opportunities in:TNPediatric rehab opportunities in: AZ, IL, NC
Subacute opportunities in: DE, FL, GA, NC, NJ, SC, VA
TBI opportunities in: KY-Bowling Green, MS, OH
Practice purchases opportunities in:
FL, NV, NY, WV
IS PARTNERSHIP NEGOTIABLE AT THE EMPLOYMENT AGREEMENT STAGE?
The answer to this question depends on whether the practice has brought in employees as partners in the past. If so, they are much more prepared to commit to timetables and terms. A solo or small practice may be hiring you with an eye toward partnership, but they are not sure about what that necessarily entails and may not be ready to commit to certainties. In any event, just asking for some timetable might help solidify your job prospect, because they will know (or believe) that you are in it for the long haul.
Partnership tracks typically run anywhere from 3 to 5 years, and sometimes longer. The first order of business is to try to get them to guarantee it if you are still there after a certain amount of time. Most of the time, though, the contract language typically will just promise to discuss it at some specified point, rather than guaranty it will happen. If that is the case, then at least the first request should be to know when discussions will occur, and try to get a commitment for draft documents to circulate 90 days to 180 days in advance of the expected date. This will give you time to evaluate the terms and perform diligence of the practice financials. If discussions carry over longer than expected, then the employment agreement can provide that partnership will nevertheless take effect retroactive to day one of the year in which it was expected.
You might also want to outline parameters for the negotiations, including as to whether:
it is equal ownership right away or vested in partial increments over time,
whether or not there is a monetary buy-in (versus pure sweat equity for loyalty to-date), and whether that is payable on a pre-tax basis by reallocating profits in favor of the owner for a certain period of time, or whether it is payable on an after-tax basis requiring you pay with post-compensation income (after payroll taxes and other deductions are withheld) or borrow money from a bank to make the payments,
if you are no longer terminable without cause once you become a partner (rather than subject to being kicked out at any time), and
what you are becoming a partner in – i.e., is it just the medical entity or is there also a management company, office-based surgical entity, ambulatory surgery center and/or real estate entity associated with the enterprise in which you will also participate.
$20,000 sign-on bonus + a $220,000 2-year salary guarantee + production bonus + student loan forgiveness
Low physiatry attrition rate, doctor-friendly environment per the Medical Director
NJ – NORTHERN OR CENTRAL
SUBACUTE ONLY OR WITH OUTPATIENT
Exciting practice opportunity with a fast-growing subacute program
No calls, nights or weekends
Excellent compensation with this full- or part-time practice opportunity
MD – NEAR DC
Internists and hospitalists provide the patients’ primary care
$250,000 plus quality incentive plus RVU incentive
Employee with comprehensive benefits
DE – NEAR THE BAY AND BEACHES
ASSOCIATE MEDICAL DIRECTOR
Outstanding opportunity at this beautiful, new rehab hospital
Help build programs
Strong internal medicine, ortho and neurology presence
NV – LAS VEGAS
Associate with one of the larger rehab providers
Office space available at the facility
Strong internal medicine and neurology presence
OH – CLEVELAND
Exciting practice opportunity to join a well-established, successful health system
Innovative program with a PM&R residency program
This growing program is in the process of hiring a PM&R Chief, which is a new position, as they understand the importance of PM&R
Possibility of student loan assistance
REMINDER – IMMEDIATE RELEASES OF NEW PRACTICE OPPORTUNITIES
If you’d like to receive immediate release of new practice opportunities, please sign up at my website at www.farrhealthcare.com. The upper left hand side has a place where you can enter your email address.
About once every week or two, you will receive an email about any new practice opportunities. More information about the new practice opportunities may be found by clicking on the Openings tab on the Farr Healthcare website. Even more information is available by contacting Farr Healthcare, Inc. at [email protected], 888-362-7200.
REMINDER – THANK YOU REFERRAL BONUS
As a thank you, Farr Healthcare, Inc. continues its referral bonus program.
Any doctors you refer to me for a particular opportunity who ultimately start work at that opportunity, Farr Healthcare, Inc. will provide you with a $1,000 as a thank you.