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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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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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“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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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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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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It’s a Process
There are four, sequenced stages to any successful employment contract negotiation:
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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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How do you get people to act upon requests or messages whether we are talking to one person or many? Perhaps there are times when you question if a patients will ever follow through on an agreed upon decision. As healthcare professionals, the ability to communicate effectively is imperative.
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Throughout history great thinkers and average folk have asked two questions central to our successful existence: “Who am I?” and “What do I want?” Together, they pose a tricky riddle and many of us will likely live our entire lives without ever answering either one! But most of us would agree that one path toward solving the puzzle is to think about, articulate and set goals for our lives.
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In 20 years of supporting the career needs of America’s young physicians, residents and fellows, I have learned that the stigmas of residency and fellowship live on for many years post training.
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