Career and Life Planning Workbook for Medical Residents

36 WWW . A D V E N T U R E S I N M E D I C I N E . C O M INSTRUCTIONS Exercise: Calculating Physician Productivity A formula for success. Taking control of your compensation is a matter of breaking down the number of relative value units (RVUs) and patient visits (per year, per day, and per hour) and is key to achieving your desired income. OBJECTIVES: By the end of this exercise you will be able to: Calculate Relative Value Units (RVUs). 0TWHJ[ `V\Y PUJVTL I` SL]LYHNPUN H WYVK\J[P]P[` MVYT\SH I` JHSJ\SH[PUN [OL 9=<Z I` KPќLYLU[ TLHZ\YLZ You will: • Calculate RVUs in terms of measures including per year, per day, per hour • +L[LYTPUL [OL U\TILY VM WH[PLU[Z WLY OYZ ^V\SK IL YLX\PYLK [V HJOPL]L [OL KLZPYLK ÄUHUJPHS SL]LS HOWTO USE THIS TOOL Practice your calculations by completing the various exercises then compare the results. <ZL [OPZ MVYT\SH [V JHSJ\SH[L [OL WYVK\J[P]P[` ÄN\YLZ [V KL[LYTPUL [OL SL]LS VM LќVY[ YLX\PYLK MVY HU` KLZPYLK salary range. Use this formula to build and sustain your desired income level after your guarantee expires. Compensation Packages CHAPTER 3 1. To determine Relative Value Units (RVUs) required per year, start by dividing the desired annual compensation (in dollars) by the compensation per work RVU. 2. Next you will need to determine the estimated number of work days you have per year. Do this by taking the total number of work days per year and subtracting vacation and CME days from that total. This will give you your estimated work days. 3. To determine the number of RVUs per day, you will divide your RVUs per year by the number of work days. 4. ([ [OPZ WVPU[ [V KL[LYTPUL `V\Y 9=<Z WLY OV\Y `V\ ^PSS ULLK [V ÄYZ[ JHSJ\SH[L `V\Y WH[PLU[ JVU[HJ[ OV\YZ 5. Simply divide the number of patient contact hours in a week by the number of work days to determine your patient contact hours per day. 6. To determine your RVUs per hour, divide the RVUs per day by the number of patient contact hours per day. 7. To determine the number of patients per hour you will divide the RVUs per hour by the 1.2 RVUs per patient average. 8. You can now calculate the number of patients you need to see per 8 hr day by multiplying the number of patients per hour by 8 hrs. 32 WWW . A D V E N T U R E S I I I