| You are flying home from a job interview
| |
| | So should you dismiss partnership as a
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| and this is it. You are in the last year
| |
| | goal? Not so fast. Do some research. Ask
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| of your medical or surgical training and
| |
| | these questions to see if the promise
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| you are a couple of months away from
| |
| | measures up:
|
| finishing. Ah. Finally. This is the
| |
| | * Talk to recent partners and ask if
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| perfect job. The location's great, pay is
| |
| | there was any funny business. Did they
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| terrific; it is the practice style you
| |
| | get the offer as promised or were there
|
| want. And, when you asked if it was a
| |
| | any changes?
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| partnership track, they said yes.
| |
| | * Find out if anyone has ever been on a
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| Priceless.
| |
| | partnership track only to be turned down
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| Have a drink and prepare for some
| |
| | for partnership and why.
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| turbulence.
| |
| | * Find anyone who has left the group
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| This is what you are thinking: I'll make
| |
| | recently and find out why.
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| the same as everyone else, even the
| |
| | * Talk to your attorney to find out
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| senior partners. I'll get the same perks.
| |
| | exactly what partnership entails for you,
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| I can't be fired. My vote counts. I am an
| |
| | and how it compares to the rest of the
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| equal.
| |
| | group, item by item, and dollar for
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| This is what I want you to think:
| |
| | dollar. Your attorney may know something
|
| * How many years is it to partnership? 1
| |
| | of the groups' history and reputation.
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| year or 5?
| |
| | Also realize that the value of
|
| * Is there a buy-in, how much, and how is
| |
| | partnership depends on the type of
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| it executed?
| |
| | practice. If you are partner in an
|
| * Are there different classes of stock
| |
| | anesthesia group that is 100% hospital
|
| and partnership?
| |
| | based and you become partner as planned
|
| * What do I get for partnership? What
| |
| | but then your group loses its hospital
|
| happens if I leave?
| |
| | contract, you have a full share of
|
| * Is there a buy-out? If so, how is the
| |
| | nothing.
|
| practice valued?
| |
| | If the financial and benefits terms are
|
| * Is there anything that will make my
| |
| | good, do the math and figure out if you
|
| total package different from that of the
| |
| | are better off taking more money earlier
|
| other partners?
| |
| | than waiting until partnership. If you
|
| * What can prevent me from being offered
| |
| | are offered 5 years to partnership,
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| partnership?
| |
| | salary and benefits package totaling
|
| * How many other partners are there? If I
| |
| | $150,000 first year, $175,000 second
|
| have a vote, what does that mean? I have
| |
| | year, $200,000 third year, and so forth,
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| a half vote in financial matters, and a
| |
| | would you be better off with a salary
|
| full vote in all other matters. Speaking
| |
| | from day one of $225,000 but no
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| of matters, does my vote matter?
| |
| | partnership option?
|
| And most importantly, you can be
| |
| | In my 17 years of practice I have heard
|
| terminated. Almost all partnerships have
| |
| | more partnership horror stories than
|
| terms that not only specify the
| |
| | fairy tales. This is the place to be
|
| conditions under which you may or may not
| |
| | diligent, especially if the lure of
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| be offered partnership, but how you can
| |
| | partnership is the key to your decision.
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| be terminated.
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| |
|
