Opportunities in Partnership

Physicians pay cuts to take effect?

Posted on November 30, 2022 by Bob Deroode - How to Find the Right Job, Partnership, Trends

Physicians pay cuts to take effect!

Several provider groups say the Biden administration needs to reverse a proposed 4.5% pay cut to doctors for next year, noting the agency needs to consider additional financial pressures that practices are facing.

CMS proposed a 2023 conversion factor of $33.08 for each relative unit, which details how a doctor gets paid by Medicare. The conversion factor is a nearly 4.5% decline compared to the 2022 rate of $34.61.

The Medical Group Management Association urged CMS in comments to reach out to Congress and press for a positive update to the Medicare conversion factor.

As of now, the payment reductions “will have a detrimental impact on access to care for Medicare beneficiaries and financial sustainability for medical group practices,” the group’s comments said.

For over 30 years Integro has assisted candidates in the market with our popular “Questions To Ask Before You Sign” to assess opportunity stability and ability to withstand market stressors. Reply today to request your free copy.

Questions to Ask Before You Sign!

Posted on August 3, 2022 by Bob Deroode - How to Find the Right Job, Interviewing Skills, Partnership

Questions to Ask Before You Sign!

Surprises in a new opportunity are never a good thing. Of course, you want to know why they are hiring, how many physicians have left in the past 10 years and if you’re to take over from a retiring physician has that been formalized in writing.

Physicians who have been in practice tend to focus more on issues beyond income guarantee and more on operational aspects such as overhead, support personnel, referral patterns, how patients are assigned, and local medical politics.

If there are retirements in the future you’ll want to know what their exit policy is. Does the group have to “buy-out” a retiring colleague or just pay him their AR? Do they have what a retiring physician is entitled to codified in their partnership agreement? Many groups have run into issues because it was “understood” based on a discussions in years gone by or has never really been discussed at all!

Having a handle on what is expected from you outside of standard hours whether it’s self-marketing, business meetings, or paperwork is all part of the package.
To see all of our “Questions to Ask Before You Sign”, go to our Candidates page.

Why do you want to be a partner?

Posted on November 23, 2020 by Bob Deroode - Partnership

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.

Professionally Speaking, is This the Right Practice For Me?

Posted on March 26, 2020 by Bob Deroode - How to Find the Right Job, Partnership

Is your practice providing you with the clinical volume you want?
Are you provided the opportunity to fulfill your long term professional goals?
Does your practice allow you to have enough time to provide adequate quality of life?
Are you receiving adequate compensation for the work you do?
Do you receive adequate support to maximize your productivity?
Are you doing the amount of procedures or surgery you desire?
Are your opinions regarding practice operations respected and acted upon?
Do you respect your practice associates?
Will the deficiencies of the practice change in a reasonable time frame?
Would I make the same decision to practice where I’m at now if I had it to do over again
If you answered “NO” to 3 or more of the above questions you should consider alternatives and act

Lost Opportunity & Career Choice

Posted on April 25, 2019 by Bob Deroode - Partnership

The follies which a man regrets most in his life, are those which he didn’t commit when he had the opportunity. —Helen Rowland (1922/2007 p. 119)

People regret outcomes that could have been changed in the past but can no longer be changed and for which people experience low psychological closure

Regret is a common and distressing emotional experience that has long-term consequences for health and well-being (Landman, 1987; Lecci, Okun, & Karoly, 1994; Wrosch, Bauer, & Scheier, 2005).

Making decisions based on who “guarantees” the most or gives you the “best deal” may be short sighted in the context of time. Fulfilling in the short term but with long term consequences. Not eating that desert or not accepting that bigger “guarantee” may provide you the benefit of long-term success because you did it yourself!

What does partnership mean?

Posted on November 17, 2017 by Bob Deroode - Partnership

Partnership means different things to different people. Make sure you both have the same definition of what it is to help you determine if that type of “partnership” is right for you!