Why do you want to be a partner?

The idea of becoming a partner in a medical practice was once the dream of many young doctors. The advantages are many: a vote on practice issues, due process protections, the pride of ownership. But there are risks involved when medical practices offer partnership tracks, including the burden of extra administrative duties and a buy-in process that can lower initial salary payments and being legally tied to partners who’s goals may not align with yours over time.

Generally a group will not be able to calculate a specific amount of how much a buy-in will be in the future but they should be able to provide you with how the calculation will be made and an approximation based on current valuation.

If you’re interviewing with a medical practice that offers a partnership track, be sure to discuss the length of the buy-in period and how the process works.  Also discuss if someone leaves what the buy-out process is, especially if there are senior partners who are nearing retirement.  Before accepting any offer, consult your own legal and financial advisers to be sure your bases are covered.

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