nycpa77 Posted November 1, 2011 Share Posted November 1, 2011 I'm currently thinking about contract negotiation or finding a New job, and I was able to get my rendered claims activity from Our biller. I'm wondering if anyone has insight into how good It seems. I think I bring in about 2.5 times my salary, and I think I have a pretty low overhead. My practice is unfortunately very Disorganized, so there's no sense of where the Money goes, or even really of how much comes in. I don't fully Understand the Breakdown, so hopefully someone can help. My charges- 538,000 (rounded) My payments- 285,600 This is the "rendering provider claims activity" printed from MDOffice, Our scheduling system. I work 4 8- hour days a week, and this Is for the past year. Thanks for any insight! Link to comment Share on other sites More sharing options...
Moderator ventana Posted November 1, 2011 Moderator Share Posted November 1, 2011 good luck - tough battle nationally I jsut read that PA's get paid on average 36% of collections - but I am unsure that is really ALL your collections as on 50% of billed is sort of small I am in the same boat right now but a few steps ahead (have had my first productivity pay proposal shot down) and have a meeting this week to discuss my second option of working less and getting a raise - I collect a little over 300k, get paid 84k (that stinks but I needed the job) Asking to go to 2k/wk which is between 50 and 75 % on the AAPA data for my area If I am unsuccessful I have a business plan coming together to open my own practice (gulp) but not 100% sure I want to take this liability so cards are up in the air..... you have to make sure you have all the "payments" in the collections - if you are surgical and doing follow ups you need some type of accounting for the portion of the global fee that the doc collected that should be yours, and if you are not billing directly to some companies (as in they do not credcential PA's) your billings might actually be in another doc's info..... what field are you in and what part of the country are you in? Link to comment Share on other sites More sharing options...
Contrarian Posted November 1, 2011 Share Posted November 1, 2011 Also... During negotiations... don't fall for the often used trick of them making their poor collections rate YOUR problem. YOU didn't hire the billers... nor can YOU fire them so... their "piss-poor" performance shouldn't be used as a reason to surpress your salary. Think about it... If you bill $1,000,000 and they only collect $50,000... are you gonna let them tell you that they can only pay you $30,000/yr... "cause we only collected $xxxx"....? Link to comment Share on other sites More sharing options...
nwatson Posted January 20, 2012 Share Posted January 20, 2012 My doc (dermatology) doesn't tell the PAs know how much they are generating; he throws out a number he thinks they deserve when it's time to pay the bonus. Works out to be about 20-25K every 6 months. They are doing Mohs repairs and excisions + the standard Derm visits. The other PAs estimate that they receive a base salary (85K with 7+ years of experience) and approx. 5% of income generated for the production bonus. Link to comment Share on other sites More sharing options...
entpac Posted January 21, 2012 Share Posted January 21, 2012 Income v. billed work is an issue for all providers. Our practice started using AllMeds this past summer. Last month I fould a way to run my totals on the scheduling system...it is the same system the biller uses happens to tie into the scheduling program. I am astonished at the "write off." I also agree that they are not accounting for the global post op visits. With some insurance providers my charges are billed under the physician's information. Not sure where I am going with this as I am contemplating a new position with a hospital group. It is a real eye-opener when, if, you can get the stats. (Otolaryngology Practice) Link to comment Share on other sites More sharing options...
jdtpac Posted January 21, 2012 Share Posted January 21, 2012 Entrepreneur versus employee, partner(shareholder) versus employee. Negotiating a salary with benefits that include healthcare, dental, vision, life insurance, disability insurance, life insurance on your employer/partner in the event they die, and performance bonuses is essential if you are working for or partnering with an individual physician or small group of physicians. In my 30 years of experience I've seen it all. However, I have never seen a large institution and give PAs anything different than what any other employee/professional staff member would get, and you can forget about bonuses. If you are going to negotiate a salary based on performance you must evaluate that based on productivity over at least 3 to 5 years. It appears like your collections are at approximately 52% of your billing. Based on your figures provided, if I was your employer/partner/practice business manager I would say a fair salary for you for that year should have been approximately $92.5K(one third of your collectibles) if I was going to give you the above mentioned benefits which would cost the practice approximately 25% of your salary which would be approximately $23K and those two figures together they add up to $115.5K. This figures out to be approximately 40% of your total collectibles, which isn't a bad figure in the business world if you being compensated as an employee. The remaining $172K goes towards paying for your liability insurance, practice overhead to help pay for other employees that are non-revenue-producing. And for example if that figure is say around $100K then that leaves the rest to go directly to the physician/partners or possibly split up amongst the practice for bonuses. In a perfect world this is how it should go and I have worked in practices that have done exactly this. However, the only way you're going to get a package like this is to be brave and bold enough to ask for it. The worst thing they can say is no. But we all, including our physician colleagues, need to hurry up and build up compensation packages like the one mentioned above because the hospital systems are raining down on every private practice, gobbling them up, and taking the profits for themselves and their shareholders. Just my thoughts. Good luck in your negotiations. Link to comment Share on other sites More sharing options...
weezianna Posted January 25, 2012 Share Posted January 25, 2012 The previous posts are all very interesting. I have a more general question for those who are working and compensated on production only. Do you find that this significantly alters your practice style, and how has this impacted your patient care? I am considering a position that is compensated on a salaried basis for the first year, but then goes to strictly production-based compensation, not a bonus plus salary, but production only. For a number of reasons, it doesn't sound too attractive. I would appreciate any comments. Thank you. Link to comment Share on other sites More sharing options...
weezianna Posted January 25, 2012 Share Posted January 25, 2012 The previous posts are all very interesting. I have a more general question for those who are working and compensated on production only. Do you find that this significantly alters your practice style, and how has this impacted your patient care? I am considering a position that is compensated on a salaried basis for the first year, but then goes to strictly production-based compensation, not a bonus plus salary, but production only. For a number of reasons, it doesn't sound too attractive. I would appreciate any comments. Thank you. Link to comment Share on other sites More sharing options...
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