Being a partner – or shareholder – in a medical practice demands full-time involvement. But, as more doctors seek to better balance their lives by working less, practices will face more part-time physician situations. Reducing part-timers to “employees” best serves the ongoing practice in most cases.
If you decide to accept a part-time partner, remember these three key points:
1. Production-based pay makes sense because it fairly compensates doctors with significantly different workloads.
2. Likewise, allocating as much overhead costs as possible directly to each physician works because it costs fairly. The more you pool expenses and split the cost, the more the group subsidizes the part-time partner.
3. A full-voting partner should pay a full share of the group’s fixed costs.