Jump to content

Compensation based on productivity vs hours, need some opinions....


Recommended Posts

I know this topic has been discussed before, but I have somewhat of a unique situation and wanted to get some opinions.

I work part time, about 24 hours a week, and one weekend a month and carry the pager on the weekend I work.

I have been at this practice 10 years, work very independently and rarely need to consult much with my SP.  We have a good working relationship and I really like the practice and the nurses I work with.

 

So this is my question/dilemma.  I am paid very well considering I am "part time" if you look at the average salary data.    I know what revenue I bring in (not just billed visits but actually what is collected) each year.  It is consistently 2 1/4 to 2 1/2 times my salary.  I do not have health or disability benefits, I do get vacation, a small cme allowance and license fees covered.  Is this about what most PA's are bringing in to the practice?  I am thinking about re-negotiating my productivity bonus.  It is currently 5% of total revenue. Even with this bonus though I am bringing in over two times my salary.   I will say what is somewhat bothering me this year is I usually get a cost of living increase, usually only 3% but it is something and I appreciate it.  This year that did not happen.  My productivity has been consistent for 3 years and truthfully it would only be maybe 200 dollars a month so it is a bit of a stab in the back not to be given that. My SP actually said on my revenue production sheet that he is happy with everything and my work, so I know it is not something of that nature.

I have always been very happy with my compensation/schedule etc...although I do see a good amount of patients over three days and see everything even very complex second opinion type consults.  I really don't have much "overhead" besides my salary and the small amount my benefits comes up to, but I know when speaking of compensation you do have to account for administrative costs and a profit for the Physician.  Any comments/experience with this is appreciated.  The SP I work with is directly responsible for my salary so this is not a big hospital that has a cap or certain ceiling for compensation.  If those numbers are about right and I need to just be happy for what I am getting then please feel free to express that as well. If you have any ideas on asking for compensation based more on production I would love to hear your thoughts.

Link to comment
Share on other sites

  • Moderator

I would say sit down with your SP

 

Explain to him that although you are not a partner, nor owner, you were a bit insulted on the lack of a raise.  Bring out all the good points of what you bring to the practice, and the revenue and quality of life that you bring to him/her.  But be forewarned, most phsyicians are crappy business people and really don't like being called on a bad business call.  Talk openly and honestly with them and see if they are receptive to your concerns.  Maybe a straight productivity pay is a better fit.

 

As for overhead, there is direct and indirect and granted your direct is low, your indirect is just as high as everyone else in the practice.  The practice still has to pay the rent, the employees need to be paid, the malpractice needs to be paid, and so on....  You are afterall seeing his patients an he is doing all the billing and collections and office support. 

 

If you have a great CP they will listen to you and adjust to keep you happy (as long as your requests are reasonable), but you might be opening up a can o worms.

 

Just FYI - I run and essentially no overhead practice, (rent $150.month, part time nurse) and i still see < 50% of collections.  

 

If you can approach being paid 50% of collections you have nothing to complain a (esp since it sounds like you are in the 100k/yr range for a part time job)  You also have to think rather you could replace what you have now if you annoy the doc......

Link to comment
Share on other sites

Thank you for the thoughtful response.  I appreciate the perspective, with more thought I think I am going to let it ride this year.  If I continue to not get a raise next year I will say something.  I feel like 3% is not much to ask and is a small drop in the bucket considering what I know an MD makes in this specialty.  I do make a very good salary for working part time though comparatively so like you said it may be best to just count the positives, keep doing a good job and move forward. 

Link to comment
Share on other sites

  • Moderator

Thank you for the thoughtful response.  I appreciate the perspective, with more thought I think I am going to let it ride this year.  If I continue to not get a raise next year I will say something.  I feel like 3% is not much to ask and is a small drop in the bucket considering what I know an MD makes in this specialty.  I do make a very good salary for working part time though comparatively so like you said it may be best to just count the positives, keep doing a good job and move forward. 

 

 

sounds reasonable as long as you are at the top of the salary scale, this is not reasonable anything below the 75%

 

Also, to play devils advocate.might say something this year just so he is aware that you are disappointed and expect different next year - don't just passively go along as he needs to know this is a one year only type of thing...

Link to comment
Share on other sites

Do you get any sort of retirement benefit from this arrangement ie 401k or 403b?

Do you get any employer contribution?

I would say from what you are describing that your SP is getting a pretty good deal with you. Much upside for the practice with very little downside other than laying out wages essentially.

You would be hard to replace......

GB PA-C

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

×
×
  • Create New...

Important Information

Welcome to the Physician Assistant Forum! This website uses cookies to ensure you get the best experience on our website. Learn More