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Just a bit of background: I am currently a family medicine doc (outpatient only) in an outpatient office for a big northeast medical group (think Kaiser), in the last year of my first contract out of residency. I signed at that time after not doing adequate prep work, and the lawyer at that time I now feel was not very well informed. I have come to learn that residents after me were given base contracts that were more lucrative in very similar positions in the same company. Thus, I want to come into the new contract negotiations as well prepared as possible. That being said, I have a few questions:
1. How long before the end of my current contract should I request a meeting to discuss the new contract? I was thinking 6 months before?
2. I made about 5300 wRVUs in my 2nd year, and will probably do around 5500 for my 3rd year. Approximately what percentile of production would that put me at? That being said I am hoping to use this as a bargaining chip showing I am relatively productive as on average FM docs produce 4900 wRVUs if google searches are correct.
3. A recent physician friend 3 yrs out of residency signed on at the same company 198k/yr 5000 RVU minimum then bonus of $25/rvu afterwards. I feel she got slightly lowballed. Does anyone have 2016 or 2017 MGMA data for me to look at? If so PM me please. I'm not sure what base salary I should ask for based on my production vs experience (3 yrs out of residency, renewal of contract). Also, is average RVU compensation for a FM doc around $38/rvu or has that gone up?
4. I plan to apply to one or two other jobs to just have some other offers on the table when I negotiate, along with getting a better lawyer. I actually am happy at my current job but would want to be appropriately compensated for the work I'm doing. I feel I'm a bit underpaid under my current contract and I'm just riding it out until it finishes. Is there typically a signing bonus for renewing a contract within the same group?
1. How long before the end of my current contract should I request a meeting to discuss the new contract? I was thinking 6 months before?
2. I made about 5300 wRVUs in my 2nd year, and will probably do around 5500 for my 3rd year. Approximately what percentile of production would that put me at? That being said I am hoping to use this as a bargaining chip showing I am relatively productive as on average FM docs produce 4900 wRVUs if google searches are correct.
3. A recent physician friend 3 yrs out of residency signed on at the same company 198k/yr 5000 RVU minimum then bonus of $25/rvu afterwards. I feel she got slightly lowballed. Does anyone have 2016 or 2017 MGMA data for me to look at? If so PM me please. I'm not sure what base salary I should ask for based on my production vs experience (3 yrs out of residency, renewal of contract). Also, is average RVU compensation for a FM doc around $38/rvu or has that gone up?
4. I plan to apply to one or two other jobs to just have some other offers on the table when I negotiate, along with getting a better lawyer. I actually am happy at my current job but would want to be appropriately compensated for the work I'm doing. I feel I'm a bit underpaid under my current contract and I'm just riding it out until it finishes. Is there typically a signing bonus for renewing a contract within the same group?
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