Contract & Benefits

Physician Recruitment Process and Compensation Overview

This is an employed position with Essentia. You will have a guarantee base salary for 2 years and then transition to an RVU productivity model. Compensation will be a guarantee base salary of $500,000. There is an additional $20,000 bonus for meeting median productivity (about 7,000 RVUs). The RVU rate is set at $66/RVU.

Essentia is offering a $100,000 sign on bonus.

Essentia will provide malpractice insurance and tail coverage. Tail coverage will be paid for by Essentia unless employment has been terminated for cause.  

Healthcare Benefits

You will have full benefits through Essentia including health, dental, and vision insurance. Essentia provides multiple options for Health Insurance so you can select the plan that best fits you and your family’s needs. Essentia offers access to a Health Savings Account (HAS) so you can pay less for coverage. You will have dental and vision insurance as well. Further detail will be provided during an onsite interview.

Retirement (401k/403b/457) 

Essentia offers a 401(k) retirement plan which allows employees to immediately contribute on pre-tax ore Roth basis. Contributions for the calendar year are limited to $22,5000 or $30,000 if you are 50 years of age or older.

  • You will receive contributions from Essentia HHHealth once you have completed one year of service.
  • Essentia Health will make a matching contribution of 50% for each dollar you contribute to a maximum 2% of your pay up to IRS compensation limit of $330,000.   
  • In addition, Essentia Health will make an annual contribution to your 401(k) equal to 6% of your pay or a maximum of $19,800. (Federal regulations set a maximum compensation limit. The contribution is variable and approved annually by the Board of Directors. You must be employed on the last day of the calendar year to receive a contribution.  

PTO is granted based on the amount of years you have been in practice post training.  
0<2.99 Years in Practice = 6 weeks (30 days) 
3<9.99 Years in Practice = 7 weeks (35 days) 
10<19.99 Years in Practice = 8 weeks (40 days)  
20+ Years in Practice = 9 weeks (45 days) 

You can receive reimbursement for medical education up to $4,000 each fiscal year 7/1-6/30. This can be used for: 

  • Medical meeting travel, medical associations
  • Tuition or registration fees for continuing education exams 
  • Medical dues
  • Current medical textbooks 
  • Subscription to medical journals  

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