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Renegotiation - Family Medicine/Wellness


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Looking for some feedback regarding a renegotiation offer from my employer. I work in family medicine with emphasis in wellness/functional medicine. I am the only provider seeing patients for the wellness concept and have been practicing for 9 years. I have joined a new practice a little over 2 years ago and helped to establish a new wellness side (including retail nutritional supplements, speciality testing, etc.). I have a good patient following from the practice I was at previously.

According to my employer, the practice has not been doing well, and they would like to redo my contract, essentially a demotion ... and I am trying to make sense of it all. Seems odd, as I am getting busier and my revenue generation is increasing. Major changes to staffing are being made (physician just paid big bucks for management consulting company to come in), and I am now down to rooming my own patients ... 

Current situation:

Work is M-F 8:30-4:30 with 1/2 day of admin on Fridays. I see about 10-12 patients per day (our visits are scheduled at least 30 minutes as it is a wellness concept)

We are a hybrid clinic in regards to billing with a concierge $75-100/month per patient and bill insurance (usually 99204, 99214, 99215, occasional extended consults); or Cash Pricing per visit

 .... I have been told I am bringing in $36k/month ($460k/year) with visits + retail 

100k base salary + incentive of 10% of revenue overall - cost of goods 

No Health Insurance

3 weeks paid vacation 

Malpractice is paid. 

Up To Date, Epocrates

CME ... I need to get value as to how much. 

NEW offer:

110k base (seeing 35 patients per week/140 per month)

+ incentive only if I see an additional 5 patients per week, averaged out per month as follows:

 .... 115 k = additional 5k added to salary per year if I see 40 patients per week/160 per month 

.... 120 k = additional 10 k added per year if I see 45 patients per week/180 per month

etc. capping me at $132/year if I see 55 patients per week

Same "benefits" as above ... and now no incentive on anything outside of # of patients I see.

My thoughts are to counter once I have fully received all of the numbers I have requested to review what they consider my overhead, etc. 

My counter:

100 k base + 30% of collections over 300k (I can't imagine my overhead being more than this since I hardly do any procedures) in revenue per year 

I have also requested for my schedule to be condensed so that I work 4 days per week since my current patient load is only about 35-40 patients per week right now. 

OR considered just straight percentage salary? 30%?

Also thinking about finding a new supervising MD or adding aesthetics to practice. 

Any thoughts are appreciated! Thanks!

 

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