Collection bonus info

[SirScottric]

Hello everyone. I am going to be starting a new vascular surgery job soon and my new employer is open to negotiating a collection bonus. I have no experience with these and am looking for some guidance as far as a general setup for this or what is fair for me to expect. Any guidance is greatly appreciated.

[AbeTheBabe]

Do you have prior experience? 

There's two way of going about it. Either you do a percentage of your collections as a total, or you do a percentage of collections over a certain amount.

Say you cost your employer about 200K a year between pay/tax/benefits. What are your prior collections? Will you see your own patients and will you always be first assist?

Scenario 1: 10% of all collections, you rake in 400K and receive a 40K bonus. This can also be on a gradient (goes up by one percent for every 50K collected over 200K).

Scenario 2: 25% of all collections over 200K, you rake in 400K and receive a 50K bonus.

How to structure it depends on how much you think you'll collect. Might be more lucrative to do scenario 2 if you can bring in a lot to the practice. Plus it might be nice for the practice to rest easy knowing they won't have to pay you extra if your are not collecting enough. 

[SirScottric]

I have a bit of experience in vascular surgery. I work in trauma/general surgery but we cross cover other specialties in the OR if needed (vascular, neurosurgery, oncology). I have covered for this group of surgeons periodically for the last year and a half. We've had a good working relationship which led them to offering me this job as their practice is growing rather quickly. 

 

Thank you very much for the insight. I greatly appreciate your help!