New Grad Dermatology Offer..

[medicfourlife]

Hey everyone. I’ll be graduating in August and just received this offer after finishing up an interview today, as this is my first official offer, I figured I’d run it past y’all before I moonwalk in the opposite direction, if nothing else, to confirm that it’s as bad as I think.

Specialty: Dermatology, medical and cosmetic.

Location: Southwest.

Salary: $85,000 (based on 26-40 or more hours per week) 10% of time will be dedicated to clinical management of other employees and office management situations. 

Bonus: “1% of net profit paid quarterly. 2% net profit on cosmetics services as long as the net profit is increased by 25% of the same prior 6 month period. The bonus incentives will not start until after 120 days of this offer and will be reviewed after 90 days once in effect to insure it is a win-win situation and is subject to increase or decrease with a mutual agreement.”

CE: 2 seminars per year as long as they are derm related. Registration/expenses covered.

PTO: 7 days (Years 1-2), 10 days (Years 3-4), 12 days (Years 5+).

Insurance: 50% coverage up to $250/month (not employer provided)

Retirement: None currently, “planned” for 2019.

Malpractice Insurance: None mentioned in contract.

 

 

[airslant]

Moonwalk

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[medicfourlife]

I was thinking of countering with something like this (written hastily just now so prob still full of holes).

Salary: $48/hr for 90 day training period. After 90 days: $45/hr, plus 30% of all $ collected on my individual billing after twice my salary has been collected (paid quarterly, including at termination of contract unless for cause). All my individual billing shall be available to be viewed and tracked by myself at any time. Post operative follow up (non-billable) patients from other providers will be reimbursed according to the hourly rate in effect. 

PTO: 3 Weeks 

Malpractice: 1 mil/3 mil occurrence based with tail coverage. 

[marktheshark89]

Terrible offer. You can counter but i doubt they will say yes. 7 days if pto is laughable. No retirement. Minimal health insurance coverage. I would probably just walk. 

[MT2PA]

I wouldn't bother countering this.  The fact that you are countering with realistic expectations (i.e. 3 weeks PTO) however their plan with 5+ yrs of service doesn't even allow 2 weeks means not only will they not agree, they won't come anywhere near a reasonable compromise.  26-40+ hrs a week is FAR too vague and I don't love the 'clinical management' loop hole.  If you're doing that, you're not doing procedures or seeing patients and that means no revenue for you and no bonus.  Essentially they are hiring a part time office manager who happens to see patients.

At 90 days they review your revenue (probably not high as a new grad) so that at 120 days they can rescind and say you don't make enough to warrant providing you a bonus.  And then when do they reevaluate that again?

Don't even moonwalk away, run at a full sprint.  

Also, and someone correct me if I'm wrong, but you only need tail coverage with claims policies, not occurrence based policies.    Make sure you do your research so you don't get taken advantage of with a lack of understanding.

[medicfourlife]

On 7/15/2018 at 7:02 AM, MT2PA said:

I wouldn't bother countering this.  The fact that you are countering with realistic expectations (i.e. 3 weeks PTO) however their plan with 5+ yrs of service doesn't even allow 2 weeks means not only will they not agree, they won't come anywhere near a reasonable compromise.  26-40+ hrs a week is FAR too vague and I don't love the 'clinical management' loop hole.  If you're doing that, you're not doing procedures or seeing patients and that means no revenue for you and no bonus.  Essentially they are hiring a part time office manager who happens to see patients.

At 90 days they review your revenue (probably not high as a new grad) so that at 120 days they can rescind and say you don't make enough to warrant providing you a bonus.  And then when do they reevaluate that again?

Don't even moonwalk away, run at a full sprint.  

Also, and someone correct me if I'm wrong, but you only need tail coverage with claims policies, not occurrence based policies.    Make sure you do your research so you don't get taken advantage of with a lack of understanding.

I agree on all counts.As to the malpractice, I believe you are correct, but I will definitely make I have a full understanding. I plan on running away at a full sprint, especially since I got an offer for $110k elsewhere. Thanks for the input!