Organizational Skills and Tools
Regardless of where you are in your medical career management, just starting residency, taking on the role of Chief Resident, starting a medical fellowship or starting in a new practice,
Read more…
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.
Read more…
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.
Read more…
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.
Read more…
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.
Read more…
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.
Read more…
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.
Read more…
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.
Read more…
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.
Read more…
Strategic Employment Contract Negotiation Tips
It’s a Process
There are four, sequenced stages to any successful employment contract negotiation:
Read more…