New Grad FP Offer

[ak004]

I'll be graduating in July.  This is an offer I received for a private FP office in the PNW.  It would be me and 1 doc.  The position was previously filled by an NP, but the doc says he has worked with PAs (and new grad PAs) in the past. I'd appreciate any feedback!

Salary:

90K to start (seeing 2-3 patients/hr).  Will increase to 110K once up to 4 patient slots/hr

Starting year 2, would switch to  productivity based: "initial salary draw equivalent to $110,000.00 annually for the first $360,000.00 in collection receipts with a patient schedule of 4.5 days per week with 4 patient appointments per hour.  Additional pay will be calculated at 33% of collections beyond the initial $360,000.00 or $30,000.00 monthly in collection receipts." 

Does this productivity pay seem feasible? I have no idea what the typical collection amounts are, so I would really appreciate feedback on this point!

Benefits:

Vacation: 10 days PTO to start.  Was told this will go up in subsequent years, but I will ask for this in writing. 8 holidays.

Sick leave: 6 days

CME: $1000, 5 days. I plan on asking for $1500

Insurance: Full medical and dental for myself.  I'm not married and have no kids, so at this point, I don't need the option for adding anyone onto the plan.

Retirement: 401k plan available.  Was also told there was a 3% safe harbor contribution after one year, but its not written in the contract.  I plan on asking more about this.

Schedule: I'd be working 4.5 days/week, with non-compensated phone call (was told by the doc that hardly anyone ever called) 2 weeknights.

Fees paid: State license, DEA, malpractice (looks to be a claims-made policy).  This line is in there after the section about tail coverage "EMPLOYER, at its option, may self-insure for all or any portion of the professional liability insurance coverage contemplated in this Agreement, including primary and prior acts (“tail”) coverage, anything to the contrary in this Agreement notwithstanding".  Not sure what that means 

 

Thoughts? Concerns? I appreciate any feedback!

[EMEDPA]

looks pretty reasonable for fp as a new grad.

[ak004]

Thanks for the feedback!

[AbeTheBabe]

I'm not in FP but seeing 4 patients an hour seems pretty hard to do unless there's a lot of walk ins for colds and UTIs. I can't imagine managing a patient with HTN and DM and COPD in 15 minutes. Decent salary to start though, ask 2K for CME.

Edited May 27, 2019 by AbeTheBabe

[ak004]

Thanks for the feedback!
4 per hour seems like a lot, but honestly this is the pace I’ve been seeing with my preceptors on my FM and IM rotations. Probably not a great indicator of the field in general, but it is what I’m used to.

Also, the doc explained to me that the way they do appointments is 15 minutes for “regular or sick visits” visits and 30 minutes for “physicals or things that take longer”. So I see the 4 an hour as being open to 4 patient slots on my schedule per hour, not that I would always have that many.

[EMEDPA]

8 hours ago, ak004 said:

Thanks for the feedback!
4 per hour seems like a lot, but honestly this is the pace I’ve been seeing with my preceptors on my FM and IM rotations. Probably not a great indicator of the field in general, but it is what I’m used to.

Also, the doc explained to me that the way they do appointments is 15 minutes for “regular or sick visits” visits and 30 minutes for “physicals or things that take longer”. So I see the 4 an hour as being open to 4 patient slots on my schedule per hour, not that I would always have that many.

yup, a lot of those visits would be refills and referrals, etc. But keep in mind you need time to chart and fill out disability forms, preauths, etc

[Gobigred31]

If I may ask — which state is this in? I know you mentioned it being in the PNW, but I’d imagine salary being quite different  between WA and ID, for example.

[ak004]

If I may ask — which state is this in? I know you mentioned it being in the PNW, but I’d imagine salary being quite different  between WA and ID, for example.

This is in WA


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[camoman1234]

Looks terrible, not sure what EMEDPA is saying, a patient every 15 minutes if VERY exhausting. I have done rural FP (rural health clinic, solo provider) x 5 years and I am leaving due to patient volume. $360,000 is hard to get to. I average about $400,000 per year of collections NOT billed. So, your bonus will be ~ $13,000 if you collect $400,000 per year which is not terrible. But that is a lot of work, not much time off and very stressful. I would settle for less money and see 2-3 patients per hour.