What is a good compensation model for a new orthopedic surgeon?

edwardbarnett

I am part of a multi-specialty group.  Recently an orthopod approached us asking to join our group.  This would be our first orthopod.  He is an entrepreneurial guy whose plan would be to bring on other ortho specialists over the next few years.  He is thinking they would likely have an ortho team with a sports doc, a joint doc, a hand doc, and a spine doc.

What is a reasonable starting compensation model?  We were thinking of offering a guaranteed base salary of 400k with a monthly bonus on top of that of 20% of collections.  This surgeon is established, brings a great following along with him, and he is a highly respected top shelf kind of guy who gives his patients outstanding care.  We would love to have him join our practice.  Since ortho is new to us, we are flying blind and want to get the negotiations off to a good start.

Any thoughts you might have about how to structure an attractive compensation model, or what kind of numbers make sense would be greatly appreciated.                                                                                                       

Froscortan

I'm not sure that a doctor who was so experienced and loved his job would agree to work for the amount you specified. You need to raise the offer of payment at least twice because otherwise, it will sound like an offer to the orthopedist you want to hire. Or he got into an unpleasant situation with one of the patients, demanding compensation from him like https://www.oxnerpermarlaw.com/s ... ably-win-your-claim / for a poorly performed operation and then it is clear why he wants to go to a quieter place.