Career and Life Planning Guidebook for Medical Residents

Recommended Tool Negotiating Your Compensation Package. Negotiating is an art. Push too hard—or unrealistically—and you might lose the opportu- nity. Don’t push hard enough and you might leave thousands of dollars on the table. This Survival Tool will walk you through the negotiation process step by step. http://md.careers/ST-17 R E A D : Physician Service Provisions Beyondastartingsalaryandanyavailablerecruitment incentives, you may have opportunities to earn additional compensation for a variety of professional services, depending on the practice situation. Not all of these provisions might be available right away, but are common in physician contracts. A reminder that the following compensation opportunities are reflected in the definition of total cash compensation in the national survey data (e.g., AMGA). Advanced practice provider (“APP”) super- vision– Ina2019studybytheAssociationofAmerican Medical Colleges, the nation will experience a shortage of 46,900 – 121,900 physicians by 2032 (5). This looming shortage, which we have seen coming for quite some time, has necessitated the usage of APPs to help bridge the gap in patient access and the delivery of quality healthcare in traditionally underserved markets. However, physicians may not be motivated to fully utilize APPs without compensation for their role in supervision of an APP. These additional supervision responsibilities require physicians to take on more risk and put forth more effort above and beyond their traditional clinical responsibilities. The need for APP supervision will vary among clinical practices andmay be influenced by state requirements. Some questions to consider include: 1) how are APPs clinically integrated into the practice? 2) how is APP production accounted for? 3) is there a separate stipend for APP supervision or is the value included in the base salary and 4) what are the specific split-share or incident-to requirements? Physician Compensation 227 WWW.PHYSICIANCAREERPLANNING.COM