Physician Job Search: Tips and Advice
Since the physician job search is at its peak nowadays, I am posting a list of topics on physician job search, including physician employment contract etc. I hope summarizing them here will make it easy for everyone to access these articles. I am a physician myself and these articles are written without bias or conflict [...]
Timing your partnership in the medical practice
Many a times, an inexperienced physician is excited to find an offer of physician job where partnership is offered after the first year. Now just because he is going to become a partner aka owner of the medical practice, is not the formula for success. Timing of partnership in a medical practice is very crucial. [...]
Partnership in medical practice: Pros and Cons
Every graduating medical student has dreamt of owning a medical practice. It is the ultimate goal of becoming a physician. Why do most, if not all physicians want to own their practice. There are several reasons for that.
1) Physicians are intelligent and independent creatures. They became physicians in the first place to call the [...]
Starting a Medical Practice: Learning Small Business
I was discussing this with a general surgeon yesterday. We both agreed that the biggest deficit physicians have is not ‘how to run a medical practice’ but ‘how to run a small business’. I believe the residency programs and medical schools should incorporate basic business training to all would be physicians.
Why should you learn these [...]
Personal Finance for Medical Residents
Let’s take a break from ‘starting a medical practice series’. I will talk about what is personal finance and why medical residents should start taking financial responsibility ASAP. Here are the reasons:
Medical residency is a time when the salary is barely enough to make through the month. Hence medical residents are more prone to get [...]
The art of physician job contract negotiations
WHO SHOULD NEGOTIATE?
Most the medical residents or physicians shy away from negotiations during their physician job search and would want their lawyers to negotiate with the employer. But remember not all lawyers may negotiate for you. Most of the lawyers will review your physician employment contract and tell you about the potential pitfalls. Then [...]
PREDICTION on salary trends: Family Practice
There is a shortage of primary care. and it is going to get worse as the US population reaches 50 million. Number of physician visits are directly proportional to the population. As the population increases, physician visits increase. That means more doctors are needed unless we can somehow work 36 hours a day. The demand [...]
CONTRACT NEGOTIATIONS
Welcome to the world of business. For us physicians, negotiating seems to be trivial, too downgrading a process reserved only for self centered people, selfish enough to ask what they want.
WRONG! Negotiations are an acceptable part of corporate America. Remember you are no longer a resident who is supposed to learn and to work eighty [...]
Physician employment Benefits
Compensation as a physician employee consists of salary plus benefits. You need to know what benefits you can get before you begin negotiations. If the physician employer is not willing to raise the physician salary, you can ask for more benefits and add value to the compensation. Also the benefits can help you differentiate between [...]
PHYSICIAN EMPLOYMENT CONTRACT
Ah! At last the dotted line. Hopefully by now you have the physician employment contract in your hand. This section helps you understand a Physician Employment Contract (PEC) also called Physician Employment Agreement (PEA). Also there are some things you want or do not want in a contract. We will go over all of that [...]
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