Sentara Albemarle offers a comprehensive and competitive compensation package for the Pediatrician position, designed to attract and retain top talent in the field. The practice recognizes the value of its physicians and is committed to providing a rewarding and supportive environment that fosters professional growth and personal well-being.
The compensation model for this position is structured to provide financial stability and incentives for exceptional performance. During the first two years, the Pediatrician is guaranteed a minimum annual compensation of $250,000, ensuring a secure financial foundation from the start. Additionally, the practice offers attractive call pay, with $260 per 24-hour shift from Monday to Thursday and $360 per 24-hour shift from Friday to Sunday. With a 1:4 call schedule, the Pediatrician is projected to earn an additional $27,560 per year, bringing the total annual compensation for the first two years to $277,560.
To further demonstrate its commitment to attracting top talent, Sentara Albemarle offers a generous sign-on and commencement bonus package. Upon signing the Employee Agreement, the Pediatrician will receive a $10,000 sign-on bonus within 10 days, followed by a $15,000 commencement bonus on their first paycheck after starting. It is important to note that these bonuses come with a 2-year commitment and are subject to a prorated clawback if the physician were to leave before the end of the commitment period.
After the initial two-year period, the compensation model transitions to a Relative Value Unit (RVU) model, providing an opportunity for increased earnings based on productivity. The practice pays $34.83 per RVU, and the average Pediatrician is expected to generate 7,128 RVUs per year. In addition to the RVU-based compensation, the Pediatrician will continue to receive call pay, as well as an annual quality incentive of up to $25,000, and other financial incentives for Pediatricians who agree to collaborate with Advanced Practice Providers (APPs). With these components combined, the projected annual compensation after year two is $300,000 or more, especially if an APP is on staff for the Pediatrician to collaborate with and earn additional compensation.
More specifically, Pediatricians who agree to collaborate with Advanced Practice Providers (APPs). If an APP is on staff, the Pediatrician can earn an additional $16,000 annually for each APP still on their guaranteed compensation floor and $13,000 per APP no longer on the floor. This collaborative approach not only enhances patient care but also provides an opportunity for increased earning potential.
While specific details about health, dental, and vision insurance, retirement plans, paid time off/leave policies, allowances for continuing medical education (CME), licenses, dues, fees, health/wellness benefits, and retirement planning resources are forthcoming, Sentara is committed to offering a comprehensive benefits package that supports the overall well-being of its physicians and their families.
By joining Sentara Pediatric Physicians-Albemarle's Pediatric practice, the successful candidate will not only have the opportunity to work alongside a dedicated team of professionals but will also enjoy a rewarding compensation and benefits package that recognizes their expertise, hard work, and dedication to delivering exceptional patient care.