Pediatric Compensation Models for Owners and Employers

I am boarding my flight to Plano where I’ll give my inaugural presentation entitled, “The Five Biggest Business Mistakes That Pediatricians Make.”  There might be a little room left, sign up if you’re at TPS and might be interested.  It’s really a summary culled from key moments from among all my talks, the walk-away points I want people to consume.

Meanwhile, over the last few years, one of the most popular reasons I get a call has to do with pediatric compensation.  How much should you pay a new doctor?  What’s the most fair way to distribute money to the partners?  I literally get those calls and emails every week.  I have distinct seminars on each topic, but Susanne Madden and The Verden Group made me slow down for a few minutes to put some of the highlights to paper (well, digital paper) in their latest issue of The Verden Viewpoint.

For example, when I talk about paying clinicians, I hit these notes:

Lesson One: No Margin, No Mission

Lesson Two: It’s Not About the Money

Lesson 3: Do the Math

…and then we run through two examples of how you might figure out what to pay your new doctor or NP.

For partners and owners, here’s the path we follow:

Productivity Measure Doesn’t Matter

Recognize Non-Clinical Work

Consider Partner Symbiosis

Should You Be Partners?

I don’t give away all the secrets, but for those jumping into this discussion, it’s a good place to start.  And make sure to check out the rest of the issue, it’s fantastic!

 

 

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