Reward your physician leader

Medical groups of all sizes recognize the importance of of a physician-managerial role in their practice. Consider the following approaches to reward your physician leader:

  • Reduce clinical time demands, perhaps one day a week, so the job can be done well
  • Consider excusing the leader from night, but not weekend, call
  • Provide a leadership/management education allowance, perhaps $5,000 and one week per year
  • Ensure that the physician-CEO's regular income share is made whole and consider extra pay of $1,000-$3,000 per month or a percentage of practice revenue
  • Set goals for your CEO to achieve, just as if he or she were a non-physician manager
  • Make the CEO's special pay and goals part of your annual expense budget outside of the regular partner's income-sharing formula

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About Reed Tinsley, CPA

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Reed Tinsley, CPA