Contract & Benefits

Physician Recruitment Process and Compensation Overview

Competitive Base Compensation

CarolinaEast offers a compensation package designed to attract and retain quality primary care physicians while providing the financial security that allows you to focus on patient care. The base salary starts at $285,000 with flexibility up to $300,000 depending on experience and qualifications. This two-year guarantee provides stability as you build your practice and patient panel.

What makes this compensation particularly attractive is the earning potential beyond the guarantee. Physicians seeing 18-19 patients per day typically earn in the $350,000-$375,000 range once their practices mature. The compensation model rewards productivity without creating pressure to sacrifice quality for volume.

  • Base salary: $285,000-$300,000 guaranteed for two years
  • Earning potential: $350,000-$375,000+ for established physicians
  • wRVU payout rate: $50 per wRVU
  • Production bonuses paid annually (calculated January-December, paid February/March)
  • No income differential between family medicine and internal medicine

Productivity and Quality Incentives

The compensation structure includes a quality component built into the wRVU payout rate. The stated payout rate represents 90% of the full rate, with the remaining 10% tied to achievable quality metrics. This structure aligns physician incentives with organizational goals while ensuring the metrics remain attainable. All five quality measures are designed to be achievable by any physician providing good care.

The system financial performance metric has been replaced with a requirement for four hours of ethics education annually, a change that puts the 10% recapture entirely within your control.

  • Quality metrics represent 10% of total compensation potential
  • All five metrics are achievable for physicians providing standard-of-care medicine
  • Four hours of annual ethics education replaces system financial performance metric
  • Production above your wRVU threshold generates additional bonus income
  • Threshold to bonus: salary divided by $50 payout rate (e.g., $300,000 salary = 6,000 wRVU threshold)

Signing and Commencement Bonus

CarolinaEast provides a $20,000 signing bonus structured to maximize your cash flow during the transition. You receive 40% upon signing the contract with no taxes withheld from that portion. The remaining 60% is paid when you start, with all applicable taxes deducted from that payment. This structure puts money in your pocket when you need it most, during the transition period before your first paycheck.

  • $20,000 total signing bonus
  • 40% ($8,000) paid upon contract signing, no taxes withheld
  • 60% ($12,000) paid upon start date, taxes withheld on full bonus amount
  • Bonus forgiveness tied to two-year commitment

Relocation Assistance

CarolinaEast provides $12,500 in relocation assistance to help you make the move to eastern North Carolina. For physicians relocating from greater distances or with larger households, the system has flexibility to increase this amount up to $15,000. This assistance helps offset the costs of moving your family and establishing your new home.

  • Standard relocation package: $12,500
  • Enhanced package available up to $15,000 for qualifying situations
  • Flexibility for long-distance moves or larger households

Resident Stipend Program

For physicians signing early in their training, CarolinaEast offers a monthly stipend arrangement that provides financial support while you complete residency. This program allows you to secure your position and begin receiving income before graduation. A recent hire signing two years before completion received a $275,000 starting guarantee with a $48,000 stipend ($2,000/month) paid during the final two years of training.

  • Monthly stipend available for early-signing residents
  • Provides income during remaining training period
  • Allows you to lock in your position well before graduation

Comprehensive Benefits Package

CarolinaEast provides one of the most comprehensive benefits packages in the region, starting with fully paid health and dental insurance for you and your entire family. This benefit alone represents significant value, eliminating premiums that can cost physicians $20,000-$30,000 annually at other organizations.

  • Health insurance: 100% of premiums paid for physician and family (begins first of month after 30 days)
  • Dental insurance: 100% of premiums paid for physician and family (begins at 6 months)
  • 30 days paid time off annually
  • 6 days sick leave per year, accumulating up to 20 days
  • Short-term and long-term disability coverage
  • Life insurance

Retirement Benefits

As of January 1st, CarolinaEast transitioned from a traditional pension plan to a 403(b) retirement plan with employer matching contributions. The match increases with tenure, rewarding physicians who build their careers with the organization.

  • 403(b) retirement plan with employer matching
  • Years 1-4: 2% employer match
  • Years 5-6: 4% employer match
  • Year 7 and beyond: 6% employer match

Professional Development

CarolinaEast invests in your continued growth with generous CME support that exceeds what many health systems provide. The combination of paid time off and financial allowance ensures you can maintain certifications and pursue additional training without financial burden.

  • 10 days CME time annually
  • $7,000 CME allowance
  • Coverage for licensure, certifications, and professional dues

Malpractice Coverage

CarolinaEast provides comprehensive malpractice insurance and will purchase your tail coverage when you join, eliminating a significant financial barrier that prevents many physicians from making career moves. This benefit can represent $30,000-$50,000 or more in value, depending on your specialty and prior coverage.

  • Full malpractice insurance coverage during employment
  • Tail coverage purchased by CarolinaEast when you join
  • Tail coverage provided when you leave
  • No deduction from salary or signing bonus for tail purchase

This compensation package reflects CarolinaEast's commitment to recruiting and retaining quality physicians. The combination of competitive base salary, achievable productivity bonuses, comprehensive benefits, and exceptional malpractice coverage creates a total compensation package that compares favorably with opportunities in larger metropolitan markets while offering the lifestyle advantages of coastal North Carolina.

© Copyright 2023 Pacific Companies. All Rights Reserved.