Please help! Dermatology contract negotiation/bonus structure

[jem0812]

Hi everyone,

I need some help here. 

I graduated this past December 2013. I was hired in February at a solo physician practice dermatology office. She wanted me to do a 'mini residency' with her so I shadowed her and did some procedures for 3 months at $1000/month. Then I started seeing my own patients after that time frame. At this point I was part-time at $60,000/year working about 25 hours/week. By the end of July my patient load was full and I was seeing patients every 10 minutes. We had discussed before I signed the contract about going full time and negotiating higher pay and we were going to discuss that after a few months of seeing my own patients. My bonuses (I believe) are structured in a very strange way. They are my quarterly salary subtracted from 18% of collected revenue. As opposed to what most people I have heard do where they get 20% of collections after they have doubled their yearly salary. We are now talking about me working 33 hours per week and I would like to have a more full-time salary to mirror this. I get 10 days paid vacation and 5 days CME up to 1500. I get no dental, health, short term leave, or 401K even if I am full time. 

My questions here are, should I re-negotiate how my bonuses are structured?

What would be fair compensation for a base salary for 33 hours/week? 

Should these values be higher because I have no benefits?

 

Thank you SO much for your time!!!

[ventana]

figure out what your annual pay would be (18% sounds really low to me as you would need to generate 1m for practice to get 180k)

 

Established derm PA should be 120+ with FULL bennies

Add in value of bennies to your pay as she is not providing them.... (not much anyways.)

 

Also point out that if he were to hire a doc - they would need 300+ k and you are looking for less then that.....