Partnership and Buy-Ins
Introduction
If there is an opportunity to become a shareholder in the group, inquire about whether or not there will be a “buy-in.” A buy-in is a financial purchase by a new partner to become a shareholder.
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Personality Assessment
Overview of Personality Assessment Tools
Organization development professionals, marriage and family counselors, and psychologists all use a variety of assessment tools to determine how individuals process information.
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Physician Buy-In Questions
Is there a “buy-in” to the group to become a shareholder?
Once you determine if you will have an opportunity to become a shareholder in the group, inquire about whether or not there will be a “buy-in.” A buy-in is a financial purchase by you to become a shareholder.
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Practice Financial Statements
The biggest medical career decision you will make following your medical training will likely be joining a medical practice. A practice is a small business and you will be entering the business of medicine. Very likely you will have business partners in this enterprise.
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Physician Compensation Formula Scenarios
Equal Sharing
Some groups base shareholder compensation on an equal sharing methodology. There are some variations, but generally in an equal sharing arrangement, profits are shared equally among shareholders.
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Practice Operations Overview
“So. What are you going to do when you complete your medical training?”
It’s a question you’re probably hearing a lot from your family, your friends and your colleagues. Answering that question will involve a lot of research and hard work on your part.
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Productivity-Based Physician Compensation
A recent study by the American Medical Group Association found that over two-thirds of U.S. medical groups use productivity-based systems to determine at lease half of physician compensation.
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Selecting a Financial Planner
As a trained medical specialist you know that seeking professional help with critical health needs is always advisable. So, when planning for your near and long-term personal and professional financial health, you should also seriously consider seeking the advice of a trained professional – a chartered financial planner.
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Strategic Employment Contract Negotiation Tips
It’s a Process
There are four, sequenced stages to any successful employment contract negotiation:
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The Cover Letter (Sample #1 Introduction Using Key Referral Strategy)
Below is a sample physician resume cover letter for use when you have acquired a senior physician or professional referral into practice and/or opportunity. This should be a brief letter to supplement and provide further explanation of your interest in the opportunity and your CV. It should also communicate to the reader that you are proactive in your approach and committed to excellence.
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