med office Collage

To find the ideal job, each physician needs to start thinking about the kind of person they are and the type of opportunity that will best fit their needs and personality. Ask yourself what kind of practice setting is right for you?

QUALITY OF MEDICAL PRACTICE
Ask yourself what kind of practice setting is right for you?

  • If you are independent and entrepreneurial, you may feel more comfortable associating with a partner or starting your own practice.
  • If you enjoy autonomy but can’t face the idea of doing paperwork and supervising a clerical/support staff, you may wish to forgo some independence by joining a group, or working as an independent contractor with shared offices, call and overhead.
  • If you need a set schedule and freedom from the strains of building and maintaining a practice, you may prefer a multi-specialty group or clinic setting.
  • If you want to be “where the action is,” you may opt for a hospital-based practice.

While practice setting is an important factor, it is often the people who you will interact with more than the setting itself that will determine how well you fit. That is why it is critical to ensure as best you can that your personality, expectations, and goals will mesh with the practice’s medical, administrative and support staff.

Solo Practice
Hospital-Sponsored
Solo Practice
Independent Contractor
Upside: Upside:
  • Great for the entrepreneurial spirit!
  • Lucrative — Tax advantages
  • Be your own boss
  • No restrictive covenant/non-compete
  • Solo practice with shared expenses
  • Shared office space decreases overhead
  • Shared call coverage
  • Possible shared practice management
Downside: Downside:
  • Call coverage
  • Responsible for all employees
  • Running a small business
  • Shared responsibility of running an office
  • Running a small business
Single Specialty Group
Small Practice (2-4 Physicians)
Single Specialty Group
Large Practice (5+ Physicians)
Upside: Upside:
  • Call coverage
  • Partnership
  • Shared overhead
  • Great call coverage
  • Little office responsibility
  • Partnership or Corporation shares
  • Possible shared practice management
Downside: Downside:
  • Restrictive Covenant/Non-Compete
  • Shared responsibility of running an office
  • Restrictive Covenant/Non-Compete
  • Higher office overhead
  • Getting along with other physicians
Employed Position
Multispecialty Group or Clinic
Employed Position
Hospital
Upside: Upside:
  • No office responsibility
  • Built in referral system
  • Corporation Shares
  • No office responsibility
  • Built in referral system
  • Be where the action is
Downside: Downside:
  • Restrictive Covenant/Non-Compete
  • Higher office overhead
  • Getting along with other physicians
  • Restrictive Covenant/Non-Compete
  • Fixed or limited income potential
  • Getting along with other physicians

 

Leave a Reply

5 things

This content is restricted to registered users. If you are an existing user, please log in. New users may register below.

Existing Users Log In
   
New User Registration
Cerebrovascular Neurosurgery
Cranial
Endoscopic
Endovascular Interventional Neuroradiology
Functional - Stereotactic
Neuro-Trauma - Critical Care
Neurosurgical Oncology
Pediatric Neurosurgery
Peripheral Nerve
Skull Base
Spine – Complex
Spine – Minimally Invasive
Spine Neurosurgery
Behavioral Neuropsychiatry
Clinical Neurophysiology
EEG - Epilepsy
EMG
Geriatric - Dementia
Headache - Pain
Movement Disorders
Neuro-Immunology - MS
Neuro-Oncology
Neuro Ophthalmology
Neurocritical Care
Neurohospitalist
Neuroimaging - Neuroradiology
Neurointensivist
Neuromuscular
Pediatric Neurology
Sleep
Stroke - Vascular Neurology
Northeast
Southeast
Midwest
South
Rocky Mountains
West
*Required field
  • 1
  • 2