Wednesday, Aug. 14, 2013
This Week's News
AMA resource center offers insights into physician compensation options
If you're among the increasing number of physicians considering an employment agreement with a hospital or group practice, turn to the AMA for resources that can help you better understand your options for compensation.
An online resource center from the AMA features empowering employment contracting resources that discuss different models and types of compensation so physicians can negotiate an employment agreement that works best for them.
The AMA's model employment agreements devote entire sections to compensation models physicians may be offered. They provide model language and discuss such models as a fixed base salary and compensation based on a percentage of productivity, collections or net income from services provided. The model agreements also look at types of bonuses as well as paid benefits to consider, including health and disability insurance, medical liability coverage, license fees, time off and expense reimbursement.
The AMA Annotated Model Physician-Hospital Employment Agreement is an eBook available through the AMA Store free of charge to AMA members; nonmembers can purchase the eBook for $149. The AMA Annotated Model Physician Employment Agreement (AMA login required), which is geared toward physicians considering group practice employment, may be downloaded free of charge by AMA members.
Also included in the resource center is information about compensation benchmarking data that can be used in evaluating and negotiating offers from potential employers.
In addition, the resource center provides materials to help physicians cultivate positive employment relationships. The AMA Principles for Physician Employment, adopted by the AMA House of Delegates in November, provides guidance for physicians, those who employ physicians and their respective advisers to identify and address some of the unique challenges employment can present to professionalism and the practice of medicine.
AMA members also can request personal assistance on matters pertaining to their employment and other professional relationships. While the AMA cannot provide legal opinions or representation, it is dedicated to answering questions and providing advice on such topics as contracting, credentialing, peer review, due process and medical staff governance.
To take full advantage of the AMA's resource center for employed physicians, join the AMA today.