Contract & Benefits

Physician Recruitment Process and Compensation Overview

Norman Regional offer a competitive salary with the ability to earn bonuses through an wRVU Bonus program. In addition to that, Norman Regional also offers a comprehensive benefits package. Please consider the following:

Benefits

Medical, Dental, Life Insurance and Vision Coverage.

Norman Regional offers 3 different medical plans: Basic Plan, Coordinated Care Plan, and High Deductible Health Plan. Insurance coverage becomes effective the first of the month following an eligible employee’s hire date or change of status to a full- or part-time status, provided that the enrollment is completed within 31 days of hire or change of status date.
Norman Regional Dental Plan is a self-funded plan, which is administered by GuardianDental. Coverage becomes effective the first of the month following an eligibleemployee’s hire date or change of status to a full- or part-time status, provided that the enrollment is completed within 31 days of hire or change of status date.
Norman Regional Vision Plan is a self-funded plan, which is administered by WebTPA. Coverage becomes effective the first of the month following an eligible employee’s hire date or change of status to a full- or part-time status, provided that the enrollment is completed within 31 days of hire or change of status date.

There are additional benefits, and those details can be provided upon request but include the following:

Disability
Wellness Incentive Program
3 Retirement programs with one that includes a company match.
Flexible Spending Accounts/Health Savings Accounts
PTO – 20 days
Holiday time off – 6 days
CME Allowance and Time Off - $3,000 and one week off (5 days)
Dues and Subscriptions – Reimbursed up to $2,000.
Medical licensure and board recertification fees – Paid by Norman Reginal
Paid malpractice insurance. Norman Regional has per occurrence coverage which doesn’t require you to obtain tail coverage.
Commencement Bonus - $25,000 – This will be paid on your first check minus any applicable taxes.
Relocation Assistance – Up to $15,000 – To be reimbursed with proof of receipts.
Retention Bonus – Up to $25,000 over 2 years, to be paid at the end of year.

Compensation:

Base Salary - $275,000
wRVU Bonus Proforma:
Above 5851 wRVUs - $47.00 per wRVU
Income potential is $400,000+, based in your individual production.

Retirement programs:

401(a) Match Plan Full- and part-time physicians who are voluntarily contributing to the 457(b) Deferred Compensation Plan, are eligible to receive Matching funds made by NRHS. NRHS will match 25% of an eligible employee’s contribution to the 457(b) plan each payroll period. NRHS will match 50% of the eligible employee’s contribution to the 457(b) plan each payroll period after 5 years of credited service. In no event will NRHS’ matching contribution be based on a 457(b) plan contribution in excess of 6% of the employee’s base compensation for the payroll period. If the employee’s contribution exceeds 6% of his or her base compensation, the match will only be made on the portion of the contribution which is 6% of base compensation. Vesting in the Match Plan is based on total credited service from the date of hire as an employee.

3 years of credited service 50% vested
4 years of credited service 75% vested
5 years of credited service 100% vested