Banner Health is one of the largest healthcare systems in the country and they are heavily invested in the success of this program. Starting with the brand new multi-million-dollar, state-of-the-art EP lab that will be at the providers disposal, and they are going to commit to a guaranteed salary of $650k for 12 months. This is a three-party agreement between Banner, WCPS and the provider.
The way it is structured is the incoming provider will be guaranteed X amount of dollars per month. If you divide the salary of $650k between the 12 months the provider will be guaranteed $54,166 per month, no matter what they will receive no less than this amount each month until the first 12 months are completed.
As time progresses throughout the ramp up period the insurance companies will start paying back WCPS for your services and by month 6 the provider will be out earning the $54,166 guarantee each month. Once that begins the excess amount will go towards paying back the income guarantee of $650,000 and with the expected volumes the provider will be producing this will not take long. If this happens within the first 12 months the provider will have the option to stay and continue with the guarantee until the period is over or they can go out on their own because they are out earning the guarantee amount.