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Internal Medicine La Grande Oregon
Vienna, Virginia, United States
Job Summary
Occupation
Physician
Specialty
Internal Medicine
Degree Required
MD/DO
Position Type
Permanent/Full-Time
Work Environment
Ambulatory Surgery Center (ASC)
Academic/Training Program
Long-Term Care/Facility
Hospital
Clinic/Private Practice
Location
La Grande, Oregon, United States
Visa Sponsorship
No
Job Description
Last Update:
2/05/20
Internal Medicine La Grande Oregon
Base Salary: A full-time employee, “fair market value” first year base salary of $201,500 that is payable over twenty-six (26) biweekly pay periods. The base salary will be adjusted each fiscal year to equal 65% of the MGMA Salary Survey 75th percentile cash compensation.
2. Minimum Performance Bonus (Forgivable Loan Secured by a Promissory Note): A minimum performance bonus of $195,000 will be advanced as installments to physician as follows: $85,000 on the date of employment, $65,000 on the first anniversary of employment, and $45,000 on the second anniversary of employment. The finalized loan amount owing at the end of each employment year and carried forward to the subsequent year is equal to the total amount of minimum performance bonus advanced, offset by any actual performance bonus earned. The finalized loan amount will be amortized and forgiven over the 24-month period following the first three years of employment. If physician electively resigns his/her employment prior to completing 60 months of employment, any unamortized portion of the finalized loan is subject to repayment.
Maximum Performance Bonus: The maximum performance bonus in the first year of employment is $108,500 that is the sum of the $85,000 minimum performance bonus and additional performance bonus potential of up to $23,500. The maximum performance bonus is adjusted each fiscal year to equal the difference between the base salary and the 75th percentile cash compensation from the most current MGMA survey.
3. Benefits: Physician will receive the following fringe benefits to the same extent as the Hospital makes them available from time to time to other Hospital-employed providers, consistent with Hospital’s policies and plans: 40 paid hours plus a $5,000 allowance for continuing medical education, comprehensive health insurance (medical, vision, dental and orthodontia), $3,000 allowance for professional expenses (license fees, dues, books and subscriptions), generous pension plan with immediate eligibility, deferred compensation plan, travel and accident insurance, accidental death and dismemberment insurance, life and long-term disability insurance, discounted medications and meals, and payroll deduct for Flexible Spending Account and AFLAC insurance, and $1 Million/$3 Million liability insurance coverage with no tail liability (at an estimated annual premium cost of $2,082).
Education Loan Subsidy: Hospital will reimburse up to $50,000 in loan debt principle paid by Physician during each 5-year contract period. Accrued loan debt subsidy is subject to forfeiture if physician resigns prior to completing five years of employment. [Maximum lifetime benefit of $200,000]
Prior Acts Liability Insurance Coverage: Hospital will provide Physician with prior acts coverage if Physician is in need of tail coverage for his or her liability insurance policy in force prior to the effective date of this Agreement, providing such prior acts coverage is available to Hospital through Hospital’s insurer and providing both Parties agree to deduct any additional cost of such coverage from the net proceeds of Physician’s Minimum Performance Bonus payable.
Moving Expenses: Hospital will reimburse moving expenses up to a maximum of $25,000
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Base Salary: A full-time employee, “fair market value” first year base salary of $201,500 that is payable over twenty-six (26) biweekly pay periods. The base salary will be adjusted each fiscal year to equal 65% of the MGMA Salary Survey 75th percentile cash compensation.
2. Minimum Performance Bonus (Forgivable Loan Secured by a Promissory Note): A minimum performance bonus of $195,000 will be advanced as installments to physician as follows: $85,000 on the date of employment, $65,000 on the first anniversary of employment, and $45,000 on the second anniversary of employment. The finalized loan amount owing at the end of each employment year and carried forward to the subsequent year is equal to the total amount of minimum performance bonus advanced, offset by any actual performance bonus earned. The finalized loan amount will be amortized and forgiven over the 24-month period following the first three years of employment. If physician electively resigns his/her employment prior to completing 60 months of employment, any unamortized portion of the finalized loan is subject to repayment.
Maximum Performance Bonus: The maximum performance bonus in the first year of employment is $108,500 that is the sum of the $85,000 minimum performance bonus and additional performance bonus potential of up to $23,500. The maximum performance bonus is adjusted each fiscal year to equal the difference between the base salary and the 75th percentile cash compensation from the most current MGMA survey.
3. Benefits: Physician will receive the following fringe benefits to the same extent as the Hospital makes them available from time to time to other Hospital-employed providers, consistent with Hospital’s policies and plans: 40 paid hours plus a $5,000 allowance for continuing medical education, comprehensive health insurance (medical, vision, dental and orthodontia), $3,000 allowance for professional expenses (license fees, dues, books and subscriptions), generous pension plan with immediate eligibility, deferred compensation plan, travel and accident insurance, accidental death and dismemberment insurance, life and long-term disability insurance, discounted medications and meals, and payroll deduct for Flexible Spending Account and AFLAC insurance, and $1 Million/$3 Million liability insurance coverage with no tail liability (at an estimated annual premium cost of $2,082).
Education Loan Subsidy: Hospital will reimburse up to $50,000 in loan debt principle paid by Physician during each 5-year contract period. Accrued loan debt subsidy is subject to forfeiture if physician resigns prior to completing five years of employment. [Maximum lifetime benefit of $200,000]
Prior Acts Liability Insurance Coverage: Hospital will provide Physician with prior acts coverage if Physician is in need of tail coverage for his or her liability insurance policy in force prior to the effective date of this Agreement, providing such prior acts coverage is available to Hospital through Hospital’s insurer and providing both Parties agree to deduct any additional cost of such coverage from the net proceeds of Physician’s Minimum Performance Bonus payable.
Moving Expenses: Hospital will reimburse moving expenses up to a maximum of $25,000
contact [Register to View] />