Medical Practice Management, Physician Compensation Models
Nov 04

Advantages to hospital employment?

Here are a few of the most common advantages I hear out there for a physician’s employment by a hospital:

 

§  A stable financial circumstance, including, but not limited to guaranteed or fixed competitive base compensation and benefits;

§  Access to continuing and reliable malpractice coverage and, in many cases, tail insurance;

§  A practice environment free from the day-to-day burden and administrative tasks of operating and managing an independent practice; and

§  More regular work hours and shared call responsibility.

 

Oh really? What about THE major disadvantage – the hospital controls your compensation now and in to the future. I just hope hospitals have learned from their mistakes in the past but from what I see so far, that is doubtful. Are physicians really better off employed by a hospital rather than go at it as an independent practice? It’s going to be interested to see how all of this is going to shake out.

About Reed Tinsley, CPA

As a top advisor to physicians, I help increase practice profits by delivering hands-on, expert medical accounting/tax support, practice counsel, and revenue-building strategies. Read more →