PracticeLink Magazine

FALL 2017

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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features 64 FALL 2017   PracticeLink.com a method of obtaining feedback and chart reviews so you can continue to improve your documentation and accurately capture all services rendered. Knowing how to document procedures, critical care, etc., can play a huge difference in how much you are able to bill over the course of months or years, which in turn will directly affect your compensation. One other main cause for heartburn among even the savviest negotiators is the dreaded counteroffer. Each situation is obviously a little different, but the number-one rule is to approach it rationally and with facts. On more than one occasion, I have been presented with the following line: "I just feel like I deserve more money." That is, of course, not the best approach to justifying additional compensation. Tony Briningstool, M.D., chief medical officer for American Physician Partners, shared the following story as an example: "Recently we encountered a situation where our company would be taking over an existing practice of emergency providers from a different organization. In this particular case, both benefits packages couldn't be more diverse from different in-network health providers. They had 401(k) match and PT o whereas we did not, but our base rate was set higher to account for some of these differences. After we presented our initial proposal, we were sent a request for a meeting with all the providers to sit in person and discuss the differences and address questions. After sitting down to the meeting, we were presented a typed, two-page breakdown from one of the current providers that detailed their benefits. This included the value of each portion of the package, as well as the rates of four nearby hospitals as a comparison. Based on this well laid-out research, the group presented a thoroughly thought-out counteroffer that was backed with evidence. After taking that information back to our team, we were able to shift around some of our package to allocate more money into the base rate and thereby meet the total compensation number that the group thought was fair." In this situation, the approach taken by the providers was just as important, if not more so, than the counteroffer itself. While no method has a 100 percent success rate, laying out a logical argument based on facts and data of the surrounding market certainly has the best chance to be considered. Oranges: Longevity In closing, I wanted to touch on a point that I think is one of the most critical and most often overlooked ideas in negotiating: making sure the package is viable in the long term. If you are lucky enough to stumble across a position that is willing to pay well above the market value, then it is certainly worth investigating— but understand that it may very well not last. In addition, if you find yourself making more than the rest of the physicians around you, you can bet that the clock is ticking on the longevity of that position. To reiterate, be sure to do your homework! This is so you can not only maximize your total compensation, but also make sure it is a sustainable rate for your employer. ● DEREK SAW YER (dsawyer@americanphysician.partners) is a physician recruiter for American Physician Partners. Win! Find your next practice—and enter to win a $500 gift card—at PracticeLink.com/Win. To reiterate, be sure to do your homework! This is so you can not only maximize your total compensation, but also make sure it is a sustainable rate for your employer. ●

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