Most physicians who have ever asked for a raise or tried negotiating their compensation have likely heard some version of the same sentence: “We have a standard package for the whole department. I can’t make an exception for you.”

Most doctors hear that as a brush-off. It isn’t. It’s the most honest thing an administrator will say to you all year.

They genuinely can’t do it. A one-off adjustment creates a parity …

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“I’m in my final year of orthopedic surgery residency and will do a one-year fellowship (I finish July 2026). I’m in the early phases of talking to potential employers, many of which say they could offer a stipend as I finish my training. Do you have any advice on how a stipend should be optimally structured?”

Stipend secrets: Navigating your final year of residency

As you approach the final stretch of your …

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The wait is over! The highly anticipated 2024 MGMA DataDive, a federally recognized gold standard for physician compensation data, has finally arrived. This comprehensive analysis offers unparalleled insights into physician and advanced practice provider (APP) compensation, making it a crucial resource for staying informed in today’s health care landscape. While some may consider it the current “gold standard,” it is essential to remember that even the best data sets can …

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The group’s story: facts and dynamics

This unique group of three interventional radiologists, each making a substantial income, found themselves in a situation where their compensation was not commensurate with their contributions. Their pay structure had not been updated in eight years. According to our analysis, each was making good money, but the pay was not fair (over $700k) by market standards. They were paid on a 1099 basis, paid their …

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How can a group of dedicated general surgeons transform their compensation and work conditions in six months? Here’s their story.

The group’s story: facts and dynamics

Four general surgeons, one NP, and one PA for a specific physician have been practicing at a small community hospital with three ancillary facilities in the Northeast for many years. The group and staffing have been dependable, without turnover, for the past three years. Three physicians …

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Most of us fall short of making New Year’s resolutions.

The reason is simple: unrealistic goals. Negotiation or renegotiation of your physician contract is attainable. Your income is paramount to financial freedom, job satisfaction, and avoiding burnout risk and stress.

Hospital or practice employment has increased among physicians. The motivations include financial stability, lower risk, steering clear of managing employees, running a business, and negotiating rates with insurers.

What do physicians look for …

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In the demanding world of health care, physicians often dedicate their lives to patient care and burdensome administrative work, leaving little time to navigate the intricacies of their compensation and how it has stayed the same over the years. Many physicians unknowingly leave significant sums of money on the table, uncertain about how to maximize their earnings.

A goal for all physicians should be to understand their true market value. You …

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During my tenure as a practicing physician, I’ve grasped that each patient necessitates and is entitled to comprehensive and unique follow-up care. Fascinatingly, this rule also relates to us, the contracted physicians. I’ve realized that a physician’s employment contract isn’t static; it is subject to deliberate and incidental alterations.

The involvement of attorneys in contract negotiation is imperative, but their influence tends to recede after the contract …

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