Contract & Benefits

Physician Recruitment Process and Compensation Overview

Memorial Hospital and Manor offers a competitive compensation and benefits package designed to attract and retain top talent. The comprehensive package ensures financial stability, professional growth, and a healthy work-life balance for the incoming pediatrician.

Physician compensation is based on three key components: a base salary with a productivity bonus, a portion tied to meeting specific quality goals, and an annual adjustment to the base salary based on performance. The goal is to align physician pay with efficient, patient-centered care, where doctors lead and coordinate care teams to ensure the best outcomes for patients. Compensation is tied to productivity, quality, access to care, and patient satisfaction, with regular performance updates provided by the hospital.

Physicians' salaries are benchmarked against industry standards, and their productivity is measured by work units (wRVUs). Bonuses are awarded at the end of each year if they exceed their productivity goals. Starting in the second year, a portion of the physician's pay will depend on meeting certain quality metrics, with up to 10% of their salary at risk if those goals aren’t met. Additionally, each year the physician's base salary will be adjusted based on whether they meet the target number of work units, with the potential for either an increase or decrease in pay depending on their performance. According to hospital leadership a full-time pediatrician can expect to earn a minimum of $300,000 on an annual basis.

Summary:

The contract is a 2-year agreement that automatically renews for successive 1-year terms unless notice is provided by either party.
The mutual out clause to leave without cause or reason is 90-day notice.
Malpractice coverage is provided by the employer (see below)
J1 & H1b Visas can be accommodated
Full comprehensive benefits are provided.

Compensation:

The base salary will be determined based upon the physician’s experience. The expected range will be $250,000 - $270,000.
Current full-time providers are earning above $300,000 annually.
A $20,000 signing bonus will be provided
Relocation assistance is available if needed

Time Off:

25 Business Days of Personal Time Off
5 days of CME, plus an allowance for Continuing Medical Education
6 Holiday’s

Benefits:

Memorial Hospital and Manor has made a commitment to its employees by providing competitive rates of compensations, a comprehensive employee benefits program, an attractive workplace, and the chance to build and explore a career opportunity by offering professional development.

Our employee benefits program consists of medical and dental insurance; voluntary life, disability, and cancer insurance; a retirement plan; employer paid life and disability insurance; and other benefits.

Medical Coverage:

Carrier: HealthSmart
Type of Plan: MultiPlan
Deductible: $0 for Tier I(MHM) and Tier II(TMH), $1500
Pharmacy: $15, $30, or $60 copayment

For Tier 1 providers, (Memorial Hospital and Manor) the following benefits apply:
$10 – Primary Care Physician office visits
$25 – Specialist visits
$200 – ER
Deductible – $0
100% for outpatient lab, x-ray testing, surgery; inpatient services; and other hospital services
For in-network or Tier 2 provider (Tallahassee Memorial Healthcare) the following benefits apply:
$35 – Primary Care Physician office visits
$50 – Specialist visits
$400 – ER
Deductible – $0
90% for outpatient lab, x-ray testing , surgery; inpatient services; and other hospital services
For out-of-network or Tier 3 providers:
Most covered services are paid at 70% after deductible
Bi-weekly Premiums: Option 1(MHM-100) and Option 2 (MHM-90)
Single coverage $34.93 and $23.35
2 person coverage $91.70 and $58.38
Family coverage $117.55 and $87.57

Dental Coverage:

Carrier: HealthSmart
Type of Plan: Dental Plan
Deductible: $50 per year
Payout Maximum: $1000 per year

Benefits: 100% preventive no deductible
80% basic with $50 deductible
50% major with $50 deductible
$1500 lifetime orthodontic maximum for children under 19.

Payments are made using Usual and Customary Rates.
Payments can be made to the dentist or to the employee.

Bi-weekly Premiums:
Single coverage $ 6.00
Family coverage $21.23

Life, Cancer, Disability & Accident Insurance:

Carrier: Colonial Life & Accident Insurance Company, Mutual of Omaha, and Unum

Types of Plans:

Accident Insurance
Cancer Insurance
Critical Illness Insurance
Disability Insurance
Life Insurance
Hospitalization Insurance
Term Life Insurance
Universal Life Insurance
Covered persons: For some or all policies, you can purchase individual and/or family policies.
Premiums vary depending on the coverage options selected.

Long Term Disability:

Memorial Hospital provides long-term disability at no cost which provides sixty percent (60%) of base compensation that pays after ninety (90) days of illness.

Liability (Malpractice) Insurance:

Claims made insurance policy ($1 million per occurrence, $3 million aggregate)
Eligibility: First full day of work

403b and 457b Retirement Plans:

Carrier: AIG VALIC
Type of Plan: 403b and 457b

Full-time employees contributing to the 403b plan, who have been employed for one year, receive employer contributions as follows:

• 1% of your contribution

Vesting:
• Completion of one year of service 20%
• Completion of two years of services 40%
• Completion of three years of service 60%
• Completion of four years of service 80%
• Completion of five or more years of service 100%

Withdrawals/Loans:
Withdrawals are not allowed under this plan unless you have reached age 59 1/2.

Loans are allowed under this plan.

Flexible Spending Account:

Memorial Hospital offers its employees the option to defer money on a pre-tax basis for use on approved medical and dependent care expenses. The flexible spending account option is not insurance; it is simply a way for you to save on your medical or dependent expenses by setting money aside from your gross income.

Employer Paid Benefits:

Disability Insurance:
This facility provides a disability policy for all full-time staff employees that have been employed longer than 5 years. The premiums for this policy are completely employer paid. The benefit payment is expected to be around 60% of an employee’s pre-disability monthly earnings. Employees must be considered disabled, unable to work, provide physician statements, and complete a claim form. The carrier will determine eligibility of payment and will review the medical condition and medical statements. Benefit payments are made based on the carrier’s policies and are not determined by this facility. If approval is given by the carrier, the employee should receive the benefit amount beginning with the 91st day of disability and ending after 2 years of disability. Medical statements may be required verifying the employee’s continued state of disability. Department-head level employees have a separate policy and can contact Human Resources about their coverage.

Life Insurance:
Memorial Hospital and Manor also provides a life insurance policy for all full-time employees who have been employed longer than 90 days. The premiums are completely employer paid. Benefit amounts are paid to those designated as beneficiaries on the life insurance beneficiary forms. The death benefit amount is 1x the employee’s annual salary up to a maximum of $200,000 with a minimum of $50,000. Payment to the beneficiaries is made based on the carrier’s policies and are not determined by this facility.