PracticeLink Magazine

FALL 2018

The career development quarterly for physicians of all specialties, PracticeLink Magazine provides readers with feature articles, compensation stats, helpful job search tips—as well as recruitment ads from organizations across the U.S.

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Page 46 of 91

Practice l F A ll 2018 47 features THE C ONTR a CTS & C OMPENS a TION ISSUE ▲ ▲ ▲ CHRIS HINZ O BV I ou S l Y , Y ou WA N t A NIC e FINA NCIA l payoff for your skills. After all, they're worth top dollar by every professional measure. But there are big picture realities to consider, too. Specialty, practice type and geography have already shaped your final offer in ways that you might or might not have suspected. How do they move the dial up or down? Words like value and supply versus demand come immediately to mind. They're the underlying drivers that make these three factors so important in what you're able to earn. They're also key to many of the compensation surveys administrators use as one critical tool in designing how much you're going to make. "It's not just a random executive pulling a number out of a hat and offering it to a physician in hopes that he or she will take it," says Jon Appino, principal of Kansas City, Missouri-based consulting firm Contract Diagnostics. "It tends to be very purposeful and calculated from the employer's perspective on what administrators are offering most of the time." As to the specific roles of specialty, practice type and geography, let's take a closer look. Specialty The specialty you've chosen will be the biggest dete rminant of your compensation by far. Even though primary care physicians and their non-surgical specialty colleagues are well-paid professionals, providers in procedure-rich specialties tend to rise to the top of medicine's financial hierarchy. Why? They experience the highest reimbursement rates for the complex tasks they perform, which ultimately is reflected in their pay. Simply put, if you're Nothing looms quite as large for your future as negotiating the best compensation package possible. WHAT PHYSICIANS MAKE ( AND WHY )

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