One of the biggest decisions you will make as you complete your medical training is likely to be joining a medical practice. If you’re like most medical students, however, you’re probably not prepared to effectively distinguish an outstanding opportunity from a mediocre or even an undesirable one.
There are a number of subjective or personal factors that only you can evaluate, such as geographical location or practice size. However, when it comes to understanding exactly how you will be compensated, it’s critical that you thoroughly understand the different factors that contribute to a particular practice’s method of compensating its physicians.
Many medical practices use a productivity-based, or incentive-based compensation plan. In other words, your compensation as a physician will be based on your productivity in the practice.
This course will describe three different types of productivity-based compensation plans and why they might be appropriate in different types of practice settings.
It will also provide you with
- a conceptual introduction to productivity based plans
- methods of evaluating productivity based plans
- methods of identifying and measuring the financial drivers in productivity based plans
- relationships between productivity based plans and the practice’s income statement and practice management system reports
This course is one in a series of courses offered by CareerPhysician to provide you with valuable knowledge and skills that will give you an edge as you begin your professional career as a physician.