So I'm a hospitalist and was offered a home health medical directorship. I was offered the position through some committees for which I serve. The company is local and reputable and they're creating a new license for expansion and state that every new license requires a medical director. The contract is pretty straightforward and states that my duties are essentially reviewing policies and charts and pays for one hour of work per week for $200 per hour. So basically about $10k per year. The contract specifically states that it doesn't depend on any referrals nor any direct care is given. I don't see any red flags - any of you guys have any arrangements like this? Anything I should have reviewed?
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Will your current malpractice policy cover it? Will you be paid via 1099?My passion is protecting clients and others from predatory and ignorant advisors 270-247-6087 for CPA clients (we are Flat Fee for both CPA & Fee-Only Financial Planning)
Johanna Fox, CPA, CFP is affiliated with Wrenne Financial for financial planning clientsComment
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What happens if you have to do more than 1hr/week? If that is uncompensated time, it'd be a point of concern and negotiation. May be better to negotiate a bigger timeframe for the hours, eg 4hrs/4 weeks rather than 1hr/week. That way if you have 3 hours the first week, nothing for 2 weeks then 1 hour the 4th week you are paid in full. This is how my partners who are sleep lab medical directors are paid, because you might have nothing for several weeks in a row then a JHACO survey with a bunch of meetings all at once.
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I would like resurrect this thread. I am recently given this similar opportunity and would like to follow on how nolamd84 ended up doing...
How does malpractice insurance play in this context (i.e. no direct patient care, etc)?
What are some of the key questions to ask?
Thanks in advance for guidance!Comment
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You still need medical malpractice coverage as a medical director with no direct patient care. If the company is sued for having an improper policy with respect to some aspect of patient care, that goes back to the medical director for failure to institute proper policies and procedures, a responsibility intrinsic to the directorship.Comment
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