× Women Physicians

guidance needed to go to part time status

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13 years 2 weeks ago #20383 by supsmd
I am seriously considering going to part time status from full time psychiatrist due to family reasons.My employer is going to pay me like $65/hr and also wants to add 30% overhead charges.My impression is if one gets to be on hourly basis then one does not have to cover the overhead charges?Am I right?I need to know my options.Please help me.

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13 years 2 weeks ago #20384 by DocPT
That sounds right-- most of the arrangements that I know of wouldn't add overhead if you are already an hourly employee. They might calculate it into their decision about your hourly rate.

There is so much variability in arrangements-- you get what you negotiate. My best advice is to talk to others in your specialty, in your geographic area, ideally who have personal experience negotiating PT arrangements.

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13 years 5 days ago #20385 by kpzr/9145
It doesn't seem fair to charge you for overhead expenses, especially not that high a percentage. Especially since you are considered an employee. 65 bucks per hour is not that high a salary for psychiatry either. Will you receive benefits (malpractice insurance, health insurance, 401K etc)?

kpzr

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13 years 5 days ago #20386 by CaliMD
this is bad, bad, bad - there are nurses (okay, can't compare, they are in demand, and I'm taking about the SF Bay area, etc.) that make $60/hour or so. If I were to accept that low-balled hourly rate, I would NEVER agree to overhead whatsoever. How pathetic that while tuition costs have doubled over the past 15 years (and life in general), the hourly FP/Peds/IM/Psych "rate" is the same as it was 15 years ago.

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13 years 4 days ago #20387 by alternativeMD

Originally posted by CaliMD:
this is bad, bad, bad - there are nurses (okay, can't compare, they are in demand, and I'm taking about the SF Bay area, etc.) that make $60/hour or so. If I were to accept that low-balled hourly rate, I would NEVER agree to overhead whatsoever. How pathetic that while tuition costs have doubled over the past 15 years (and life in general), the hourly FP/Peds/IM/Psych "rate" is the same as it was 15 years ago.

I agree. This is BAD. Insulting! To give everyone a perspective how how far and how low we've come as primary care providers (Peds, FP, IM, Psych): my friend, a cardiothoracic surgical PA, 1st year out of PA school makes $120,000, with full government benefits--comparable to area PCP salary in this big city.

Why would you go to medical school, do residency, and end up in primary care, when you could take the route of being a CT surgery PA?

Of course, she takes overnight calls every Thursday, and works on beeper call and make rounds on weekend a month, and she has $120,000 from PA school loan.

But she did not have to spend close to a decade pursuing an education, she does not have to worry about malpractice, she does not have the make the ultimate decisions for patients' life and death, and her job is otherwise stressfree. She certainly DOES NOT HAVE TO PAY HER OWN OVERHEADS.

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13 years 3 days ago #20388 by rs4
$65/hour plus overhead expenses sounds REALLY low. I probably didn't net $65 an hour as a psych in private practice BUT had the benefits of equity from owning the practice and building, complete administrative control, etc.

also check on how they calculate the 30% of overhead. my husb has been in two settings (one academic, one a multi-specialty non-profit) where admin would set ridiculous rates for overhead as a way to pay less to the physicians (e.g. $12,000 a month for a small office suite that would rent for $2,000) :eek:

some places set up part-time physician or nurse practitioner employees on a percentage of collections.. such as 60/40 or 50/50 with 60 or 50% going to the employee. what will the employer actually bill and collect for your work?

if you can't negotiate pay see if you can negotiate some added benefits.

it is always better to negotiate BEFORE you take the job ;)

rs

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