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When physicians finish up their post-graduate training and look forward to their first job, it is typical to see contract offers that include a minimum base salary, as well as an incentive or bonus compensation structure. In many cases physicians are underwhelmed by the minimum salary guarantee amount, but this disappointment is somewhat tempered by the notion that they have the potential to tap into their bonus compensation, and achieve a higher total compensation. However, it is difficult to know how likely you are to reach the production levels required to earn income under your bonus structure. One way to find out how likely you are to reach your bonus structure's production levels is to access the Medical Group Management Association's ("MGMA") physician compensation survey. The MGMA data includes several metrics which are sortable by region of the country, years in practice, and many other factors. Once you narrow in on the specific metrics applicable to you, you will be able to identify measures such as median total collections and average wRVUs and RVUs. This information will give you an idea of what your first years in practice will look like in terms of achieving the production levels necessary to break into your physician employment contract's bonus structure.
To learn more about your individual bonus structure and overall physician contract compensation, as well as the MGMA data, please contact Leigh Ann O'Neill at loneill@lauthoneill.com or 317-989-4833.
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