DelusionalEnthusiasm Posted November 25, 2011 Share Posted November 25, 2011 trying to find a good bonus structure for my surgery practice, so far i came up with this, wanted your opinions on it. Thanks (Quarterly collections - 2x quarterly salary) x .30 = quarterly bonus Thanks. Link to comment Share on other sites More sharing options...
Administrator rev ronin Posted November 25, 2011 Administrator Share Posted November 25, 2011 So you get 30% of anything the practice makes off of you IN EXCESS of double your salary. Makes sense to me, but in order to make that work, you need the right to audit the books, or to compel an external audit. Also, "collections" can bite you if you're being assigned the less well paying patients. What I'd do is specify (My billings / Total billings ) * Actual collections instead, which would not penalize you for e.g. seeing Medicare patients. Unless you have the right to refuse such patients, I don't think you should be penalized for doing so. It should still work out fine for the practice unless ALL you are seeing is medicare and medicaid... Link to comment Share on other sites More sharing options...
Contrarian Posted November 25, 2011 Share Posted November 25, 2011 ^^^ ... What he said ... ^^^ Also... YOU shouldn't be penalized for poor performance in the billing department. For example: You bill $400k... they collect & 100k then try to tell you that they can't give you a raise and/or bonus because THEY are ok with a 25% collection rate. Extreme example... I know but you get the point...!!! Key... as Rev stated... gotta have un-encumbered access to the "books"... and/or keep you own record of all of your billings and make sure they match what the practice has quarterly. Link to comment Share on other sites More sharing options...
DelusionalEnthusiasm Posted November 27, 2011 Author Share Posted November 27, 2011 I'll be doing a mix of first assisting and rounding primarily, with some office visits. I was just worried how the surgical aspect would come into play with rounding and billing by the physician for seeing the patient during rounds, etc. vs a more straight forward use of this in something like FP where you mostly see your own patients. I'm not really sure what the best way to do this is, but from what I'm gathering you both think this is also a good fit in the surgical realm as well. So to summarize your posts, I should just change "collections" to "billings"? or do you have a better fit to a surgical speciality? Link to comment Share on other sites More sharing options...
DelusionalEnthusiasm Posted November 27, 2011 Author Share Posted November 27, 2011 I'm trying to go about this the best way because my inital contract for the practice has my bonuses ambiguously based on "the PA's performance" Link to comment Share on other sites More sharing options...
Contrarian Posted November 27, 2011 Share Posted November 27, 2011 my inital contract for the practice has my bonuses ambiguously based on "the PA's performance" For Clarity: I've never practiced as a licensed PA-C in a surgical setting so can't really speak to the particulars of billing in a surgical practice. My entire response is directed at the notion that YOU are somehow suppose to be able to ensure that you are being compensated/renumerated fairly and appropriatedly even though you can't see/have no access to the numbers your renumeration/compensation is supposed to be based off of... Sports analogy: Suppose you have a contract that states that the owners of the team will pay you $100k above and beyond your base salary for every 100yards ran with the ball during the season... but when you went to the stats department mid-season to determine how far you ran that ball, you were told that YOU weren't allowed to look at the tally of your seasonal yardage. How are you to determine how many hundreds of thousands of dollars they own you in bonus money...???? Link to comment Share on other sites More sharing options...
DelusionalEnthusiasm Posted November 28, 2011 Author Share Posted November 28, 2011 I understand the concept, I guess my concern is related to the thought that if I am rounding with the MD and the MD is billing for the rounding (unless that is included in the surgical fee -- i have no idea) I won't be getting any credit towards that. I also lose the added ability for the partners to perform an additional surgery since I free one of them up. I have no idea, it would be nice to hear from some surg PAs who know the way the whole system works and the best way to be compensated for it Link to comment Share on other sites More sharing options...
axlst2 Posted December 2, 2011 Share Posted December 2, 2011 Your ability for bonus as a surgical PA is much more subjective versus a PA who is both clinical and surgical. When it comes down to it, you are more profitable in the office than in the OR, so your "revenue" won't be as great as a PA utilized solely in the office (Unless you are billing for ~10 total knees/day). Ultimately, you will need to be more "creative" with your bonus schedule (maybe working in OR time/turnover time/case totals per surgeon per hour, etc). Link to comment Share on other sites More sharing options...
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