BizQuiz: Do you have a clue about doctor pay? (Answer 3b)

Article

Taking the BizQuiz? This is the answer to question 3 from "Do you have a clue about doctor pay?"

3) B–Incorrect.

Skillful private eyes will uncover differing opinions on this subject, but I recommend that doctor production cover wages and retirement contributions.

Because different people use the term “compensation” to refer to different figures-wages only, the total compensation package paid to the doctor, the total hospital cost of employing the doctor, and so on-this topic is ripe for misunderstanding and confusion. In the percentage ranges discussed earlier in this article, I include wages and retirement contributions paid on behalf of the doctor (deferred compensation). Other benefits-which typically include CE, health insurance, liability insurance, and professional dues and licenses-are paid in addition to the production percentage. They often total another $8,000 to $12,000 worth of compensation.

Next question, please …

Related Videos
Innovators
Senior Bernese Mountain dog
© 2024 MJH Life Sciences

All rights reserved.