SCAR123 Posted July 26, 2018 Share Posted July 26, 2018 Please tell me what you think of this offer. Of note, I'm a new grad, I've been out of school 2 months, and this is the only offer I've had. Small practice in rural health family med. Job starts slow, not expected to see patients at first and then slowly work my way up, getting to ~20pts/ day. Job is M-F 8-5. Call one week out of the month, which is answering questions over the phone. Other providers say they might get one call per day. 1 doc, 4 PAs/NPs. 75k for 3 months, goes to 80k after that 2k for CME and all licensure is covered 3 weeks PTO, 5 days for CME, 5 sick days, practice is closed for pretty much any holiday Malpractice is covered, and tail depends on how long I stay. If I stay for 4 years, tail is 100% covered, if I stay for less I have to pay a portion myself Health, vision, life, and dental comes in around $85 per pay period. 401k match of 3% once I contribute 5% (who comes up with this stuff???) I have to sign a 4 year contract, but can leave at anytime if I give a 90 day notice. Now the kicker....(hopefully I didn't lose everyone after they read 75k), due to this being a rural area I qualify for loan repayment. I currently have 43k in student debt. I would qualify for up to 50k for 2 years of service and the money is non taxable. So that changes the 80k to more like 100k. One benefit is that I've been able to speak one on one with a current NP, the doc, and a provider who just left. All have great things to say with very minor complaints, but it seems that this place has somewhat of a revolving door of providers (every 2-3 years) due to them getting substantially better offers at other practices in the nearby large city. Please let me know what you think, especially if you have any experience with loan repayment programs. Thanks! Link to comment Share on other sites More sharing options...
PACJD Posted July 26, 2018 Share Posted July 26, 2018 18 hours ago, SCAR123 said: I have to sign a 4 year contract, but can leave at anytime if I give a 90 day notice. Soooo....... is it a 4-year commitment or not?? No way would i sign a 4 year contract as a new grad... Also this means you will be at 80k for 4 years? Not sure if I am just misunderstanding but seems pretty bad to me. Link to comment Share on other sites More sharing options...
karebear12892 Posted July 26, 2018 Share Posted July 26, 2018 53 minutes ago, PACJD said: Soooo....... is it a 4-year commitment or not?? No way would i sign a 4 year contract as a new grad... I was thinking the same thing. And if you don't stay four years, do you still get your loans repaid? "If I stay for 4 years, tail is 100% covered, if I stay for less I have to pay a portion myself".... be careful, this might mean a small portion or a very large portion. I'd want tail coverage provided, especially with a salary that low. Link to comment Share on other sites More sharing options...
anewconvert Posted July 26, 2018 Share Posted July 26, 2018 Also look into the penalty for breaking that loan repayment deal. Calling it draconian is being kind Link to comment Share on other sites More sharing options...
SCAR123 Posted July 27, 2018 Author Share Posted July 27, 2018 I'm talking to the office of rural health to find out the details of the loan repayment program. My understanding is that there are two programs, federal and state. Federal will repay up to 50k for 2 years. I have asked about the penalty for leaving before the 2 years and I'm awaiting a reply. The loan repayment is a 2 year contract, the office has a 4 year contract separate from that. Yes, I have to sign a 4 year contract with the office, but if I give a 90 day notice I can break that contract penalty free. One of the providers who just left is a friend of a friend who says she had no problem breaking the contract. The way I look at it now, I would be working for 80k plus ~20k for years one and two, but after that my salary would drop by 20%, so not much incentive to stay. I have to find out more specifics about the tail. Link to comment Share on other sites More sharing options...
RuralER/Ortho Posted July 27, 2018 Share Posted July 27, 2018 If it is the NHSC loan repayment program., the consequences of breaking your agreement are easy to find. Also, while this site may "qualify" for loan repayment, it is far from guaranteed. I worked at a site that "qualified" previously, but did not have a high enough score to actually achieve loan repayment. Link to comment Share on other sites More sharing options...
PACJD Posted July 27, 2018 Share Posted July 27, 2018 10 hours ago, SCAR123 said: I'm talking to the office of rural health to find out the details of the loan repayment program. My understanding is that there are two programs, federal and state. Federal will repay up to 50k for 2 years. I have asked about the penalty for leaving before the 2 years and I'm awaiting a reply. The loan repayment is a 2 year contract, the office has a 4 year contract separate from that. Yes, I have to sign a 4 year contract with the office, but if I give a 90 day notice I can break that contract penalty free. One of the providers who just left is a friend of a friend who says she had no problem breaking the contract. The way I look at it now, I would be working for 80k plus ~20k for years one and two, but after that my salary would drop by 20%, so not much incentive to stay. I have to find out more specifics about the tail. Ok, if that is the case this isn't too terrible... Stay for 2 years, make 80k per year, get your loans paid off, and get some training.. Definitely clarify the specifics regarding the contract length, penalty, and insurance.. Link to comment Share on other sites More sharing options...
MusicalPA Posted July 27, 2018 Share Posted July 27, 2018 NHSC loan repayment isn't a guarantee. You can look up the site to see what their score is. If it is at least a 14 or higher you have some chance of getting it. But if you went that route, you would end up working there longer than two years, because you can't apply for loan repayment until you are employed there, and then there is an application window to apply. You could switch sites, but I think that would be hard to do, and there are rules about switching NHSC sites. Here is where you can look up sites. https://datawarehouse.hrsa.gov/tools/analyzers/hpsafind.aspx Link to comment Share on other sites More sharing options...
SCAR123 Posted July 27, 2018 Author Share Posted July 27, 2018 The practice has a HPSA score 18. From the NHSC website: Full-time: You will receive $50,000 for an initial two years of full-time clinical practice at an NHSC-approved service site with a HPSA score of 14 or higher. I have talked with the Office of Rural Health who has said: Depending on your start date, we might be able to offer short term loan repayment to help tide you over until the NHSC application window next opens. If you were to be denied for federal funds, we would like to consider offering you state loan repayment. I got the written contract today (previously was verbal), and everything aligned except that there is no mention of a 4 year commitment and the 401k is a straight 3% match. There are 11 holidays + the vaca, sick, and CME days for a total of 38. I'll most likely say yes to the contract because it gives me the experience, it's in a field I like, I wouldn't have to move ($$$$$$$), and with the loan repayment the job has a good salary and benefits. The other minor influencing factor is that I have no other leads and I've been aggressive in my job search. So if I wait another month or more for a different job, is the lost wages worth it? Link to comment Share on other sites More sharing options...
PAtoB Posted July 29, 2018 Share Posted July 29, 2018 in combo with having to pay some malpractice for yourself, that salary is awful imo. Link to comment Share on other sites More sharing options...
camoman1234 Posted August 5, 2018 Share Posted August 5, 2018 On 7/25/2018 at 10:35 PM, SCAR123 said: Please tell me what you think of this offer. Of note, I'm a new grad, I've been out of school 2 months, and this is the only offer I've had. Small practice in rural health family med. Job starts slow, not expected to see patients at first and then slowly work my way up, getting to ~20pts/ day. Job is M-F 8-5. Call one week out of the month, which is answering questions over the phone. Other providers say they might get one call per day. 1 doc, 4 PAs/NPs. 75k for 3 months, goes to 80k after that 2k for CME and all licensure is covered 3 weeks PTO, 5 days for CME, 5 sick days, practice is closed for pretty much any holiday Malpractice is covered, and tail depends on how long I stay. If I stay for 4 years, tail is 100% covered, if I stay for less I have to pay a portion myself Health, vision, life, and dental comes in around $85 per pay period. 401k match of 3% once I contribute 5% (who comes up with this stuff???) I have to sign a 4 year contract, but can leave at anytime if I give a 90 day notice. Now the kicker....(hopefully I didn't lose everyone after they read 75k), due to this being a rural area I qualify for loan repayment. I currently have 43k in student debt. I would qualify for up to 50k for 2 years of service and the money is non taxable. So that changes the 80k to more like 100k. One benefit is that I've been able to speak one on one with a current NP, the doc, and a provider who just left. All have great things to say with very minor complaints, but it seems that this place has somewhat of a revolving door of providers (every 2-3 years) due to them getting substantially better offers at other practices in the nearby large city. Please let me know what you think, especially if you have any experience with loan repayment programs. Thanks! NOOOOO!! That money does not change from 80k to 100k. That is a bonus from the government, do NOT let your employer screw you by giving you a low salary cause you can get loan repayment. I accepted my reward and currently am under "final review" but have told my employer that you cannot just not give me a raise because I got loan repayment. It is in the NHSC policy that myself and my clinic owner had to sign. Link to comment Share on other sites More sharing options...
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