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Partners not wanting to share Rvu or billing information

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  • Partners not wanting to share Rvu or billing information

    I am a Radiologist. Been partner for 1 year only but have 2 partners going half time recently and they wanted me to take over as President...I have ideas of changing schedule and want to make group more efficient. We are 6 person group with equal split. I asked our billing company for RVU and exams read for our group. I was given an answer saying they didn't have that and to ask the outgoing half time president. I said fine, just give me amounts billed per radiologist and was told by billing company that they were instructed not to give me that information. I am shocked that a partner cant get the books opened. I dont know where to proceed...I was trying to use that information to see if we should plan on going back to a 5 person group in June 21 when the half time guys retire. Any suggestions? I'm sure the more seasoned people here have some ideas

  • #2
    Sounds like you need to have a meeting with your fellow “partners”.

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    • #3
      Talk to your partners. Can’t believe this data isn’t already available and being reviewed in some manner on a regular basis

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      • #4
        Are you a partner or not? If you are then you should have access to see everything within the partnership.

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        • #5
          Amazingly, this group has been around 25 years. They dont share the information freely. 3 partners are older and original members. I like them all, but they will be retired soon and I and the other junior partner want to review these to see where we stand as a 5 or 6 person group.

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          • #6
            Partnership = open books. If not, it's a loose coalition and wonder if even passes muster on an audit. As "President", heck yeah - complete ability to drive this discussion, which should have been open in the first place.

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            • #7
              Well. We have our next meeting at the end of the month...I'm going to ask why partners aren't privy to this data. From a business standpoint..it makes no sense to me not to know if your practice is growing or not.

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              • #8
                Are you a true private practice or pseudo-employed? Even in the employed position I'm at, we have access to the data.

                The other thing to wonder is if the data isn't readily available, then what mess might you run into once you see the data. It may work out great if you're up to the task. Regardless, in the future you should have regular meetings, or at least quarterly numbers to pass out to the partners. It's only 6 of you, so it should be doable to have at least 4 available quarterly depending on the vacation schedule.

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                • #9
                  My father's group had an annual dinner for entire practice+ family at nice place and meeting on the financials at that time -- great social, great writeoff, and worthwhile to get everyone on the same page for setting up the next year. It's required anyways for partnerships to do. At least for LLC it is and presume most partnerships have same regs on this.

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                  • #10
                    Curious. Did your ownership require a buy in?

                    if so, did you see numbers then?

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                    • #11
                      Call me cynical but I sense either your "equal split" wasnt truly an equal split, or the older partners probably worked way less than the younger ones- No other reason to hide the books if you are all in an "equal" partnership

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                      • #12
                        Buy in was nominal, with 1 year to partner at 325k first year. In 5 person group partners made 500 to 520k. I'm not sure what this year will be with 6th person we just hired 1 jan. That's why I'm wanting to see numbers so we can plan if we want to stay a 5 or 6 group. Also..its true vacation for partners are equal and same amount of call...but the older partners do not read same amount of studies and now are having trouble keeping up on call. I'm sure they are worried I want to go to an rvu based compensation eventually. But, I am ok with what we have as long as it's truly fair split

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                        • #13
                          I did not see the numbers at buy in..but, the group hadn't had any turnover in last 5 years except 2 retired docs.

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                          • #14
                            Originally posted by Jkm View Post
                            Buy in was nominal, with 1 year to partner at 325k first year. In 5 person group partners made 500 to 520k. I'm not sure what this year will be with 6th person we just hired 1 jan. That's why I'm wanting to see numbers so we can plan if we want to stay a 5 or 6 group. Also..its true vacation for partners are equal and same amount of call...but the older partners do not read same amount of studies and now are having trouble keeping up on call. I'm sure they are worried I want to go to an rvu based compensation eventually. But, I am ok with what we have as long as it's truly fair split
                            people have different ideas of what “fair split” means and some things matter more than others depending on the practice. Call. Vacation. Flexibility. Production on sheer volume. Production on RVUs. Procedural skills. Expertise at special exams. Med staff / committee involvement. Relationship building. Outreach. Business acumen. Etc.

                            we compensate on days worked and all consider it fair. But we sure as heck track volumes and rvus as well. The numbers work themselves out pretty well. Tends to work that way when everyone is on the same page from the beginning.

                            your partnership (or shareholder) agreement should clearly spell out how compensation is determined

                            curious. Do you know what your retiring partners get at retirement. Is there a buy out? Did the new partner pay the same buy in as you?

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                            • #15
                              Originally posted by Jkm View Post
                              We have our next meeting at the end of the month...I'm going to ask why partners aren't privy to this data
                              ask is the wrong word. Demand. Matter of fact set the agenda now. Put the word out for all to hear that you want numbers to talk about at the next meeting

                              what else do you guys regularly talk about if not numbers?

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