The Hospitalist position at Encompass Pleasant Gap Hospital offers a competitive and attractive compensation package, particularly well-suited for independent, entrepreneurial physicians.
Compensation Model: This is a 1099 position, meaning the hospitalist will be an independent contractor. The pay schedule is based on the patient panel, with average annual earnings of $270,000 - $275,000 after expenses. This model aligns compensation directly with patient care, incentivizing high-quality service.
Potential Earnings: The average earnings are approximately $270,000 - $275,000 annually. This figure accounts for expenses related to running an independent practice, including malpractice insurance and health benefits.
Sign-On and Relocation Bonuses: To facilitate the transition for new hires, the hospital offers sign-on and relocation bonuses. These bonuses are designed to offset the initial costs associated with moving and establishing a practice in a new location.
Health/Dental/Vision Insurance: As an independent contractor under the 1099 model, the hospitalist will need to obtain their own health, dental, and vision insurance. This allows for flexibility in choosing plans that best meet individual needs and preferences.
Malpractice Insurance Coverage: The position requires candidates to secure their own malpractice insurance. This is a standard requirement for independent contractor positions and ensures that hospitalists have appropriate coverage tailored to their specific practice needs.
Retirement Plans (401k, Pension, etc.): Retirement benefits are not provided by the hospital. Hospitalists are encouraged to establish their own retirement plans, such as IRAs or individual 401(k)s, to secure their financial future.
Paid Time Off/Leave Policies: As independent contractors, hospitalists will not receive paid time off or leave policies from the hospital. However, the Monday-Friday work schedule provides ample personal time for in the evenings and weekends to spend with family or as you enjoy down time.
Allowance for CME, Licenses, Dues, Fees: The hospital does not provide specific allowances for continuing medical education (CME), licenses, dues, or fees. Hospitalists are responsible for managing and funding their own professional development and licensing requirements.
Health/Wellness Benefits: Health and wellness benefits are not included in the compensation package. Hospitalists can independently pursue memberships or programs that support their well-being.
Retirement Planning Resources: The hospital does not offer retirement planning resources. Independent contractors are advised to seek financial planning services to effectively manage their retirement savings and investments.