Advise needed for my first NP offer

  1. 0
    I will apologize if there is already a similar thread but I am new and this is my first post so please forgive me.
    I have been offered my first position as a NP. It is in my community which is a plus. The position is an internal medicine hospital based practice. There are two main physicians, one other physician that I think will move on soon and another NP. The practice sees Medicare and Private Insurance with an occasional self pay if they are a patient of the practice (which means they pay cash for their office visits there). It is a very well established practice.
    I have been offered two options for salary:
    1. Base of $75,000 and a production bonus of 33% of collections above $150,000
    2. Base of $85,000 and a production bonus of 25% of collections above $170,000
    Work load is seeing an average of 12 patients per day with majority being follow ups, some admissions and some discharges.
    Work Monday through Friday and I was asked if I would work 1 weekend a month and therefore could take two days off during the week or one day during week before and one during week after working weekend.
    Paid time off is 2 weeks on the 1st year, then 4 weeks after the first year.
    Six National Holidays paid.
    CME allowance of 1200/year (but I am going to ask for more)
    One week paid time off to attend CME
    401K (not sure if they will match or give some profit sharing on a yearly basis)
    Ten paid sick days/year
    Health insurance, dental and glasses paid by the practice for family coverage
    Malpractice insurance, licenses, DEA are paid by company (I am going to ask for them to pay for membership into my certifying organization as well as recertification fees every 5 years)
    Cell phone provided

    MDs sign majority of charts so they can bill at the physician rate. The NP is teamed up with one of the physicians as her collaborating physician and thus any patient she sees is linked to her and the physician for tracking purposes of productivity. The NP receives 85% credit of the 100% collected from Medicare. Not sure how that works for insurance??
    This is all new to me. Sounds good on the surface but I am a just curious about what other NPs with experience in negotiating contracts think. My opinion is that you have to start somewhere to gain experience. Starting right in your own hospital sounds great. What do yall think???
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  4. 4 Comments so far...

  5. 0
    Salary sounds pretty good, but what really caught my eye was the workload. 12 patients a day??? I see 26-30, with no profit sharing. The CME $ is about average-I've seen $1000 to 1500. I don't know which salary structure would be better, but on the whole the job sounds pretty good. Have you been able to talk to some of the employees to see how they feel about the practice? Would you have a formal mentor or will you be left to fend for yourself? It's so important to have support for your first job. To me, that's worth as much, if not more, than all the other benefits.

    Hope it works out for you.
  6. 0
    This is hospital based. The patients are either Medicare or private insurance. I will be doing follow ups, with some admission H&Ps and discharges. Average collections are $250,000. I did negotiate for a higher percentage of the earnings above $170,000 with the higher salary of $85,000 base and he agreed. I also asked for $2500 for CME plus the one week of paid time off to attend CME and he agreed. This position is in the town I live at the hospital I have worked for for 21 years so I won't have to drive and I already know the people, and computer charting. Everything is paid by them that I will need to attain or keep up for my NP certification / license. Benefits are great..Physicians are wonderful. I have accepted the position.
  7. 0
    Congrats. Keep us posted with how the job goes!
  8. 0
    Quote from about2bdone
    I will apologize if there is already a similar thread but I am new and this is my first post so please forgive me.
    I have been offered my first position as a NP. It is in my community which is a plus. The position is an internal medicine hospital based practice. There are two main physicians, one other physician that I think will move on soon and another NP. The practice sees Medicare and Private Insurance with an occasional self pay if they are a patient of the practice (which means they pay cash for their office visits there). It is a very well established practice.
    I have been offered two options for salary:
    1. Base of $75,000 and a production bonus of 33% of collections above $150,000
    2. Base of $85,000 and a production bonus of 25% of collections above $170,000
    Work load is seeing an average of 12 patients per day with majority being follow ups, some admissions and some discharges.
    Work Monday through Friday and I was asked if I would work 1 weekend a month and therefore could take two days off during the week or one day during week before and one during week after working weekend.
    Paid time off is 2 weeks on the 1st year, then 4 weeks after the first year.
    Six National Holidays paid.
    CME allowance of 1200/year (but I am going to ask for more)
    One week paid time off to attend CME
    401K (not sure if they will match or give some profit sharing on a yearly basis)
    Ten paid sick days/year
    Health insurance, dental and glasses paid by the practice for family coverage
    Malpractice insurance, licenses, DEA are paid by company (I am going to ask for them to pay for membership into my certifying organization as well as recertification fees every 5 years)
    Cell phone provided

    MDs sign majority of charts so they can bill at the physician rate. The NP is teamed up with one of the physicians as her collaborating physician and thus any patient she sees is linked to her and the physician for tracking purposes of productivity. The NP receives 85% credit of the 100% collected from Medicare. Not sure how that works for insurance??
    This is all new to me. Sounds good on the surface but I am a just curious about what other NPs with experience in negotiating contracts think. My opinion is that you have to start somewhere to gain experience. Starting right in your own hospital sounds great. What do yall think???

    I'm going to starting my the NP program... what exactly do you mean by a production bonus of 33% of collections above $150,000?? what does that mean>>?? i would like to know, so when I am ready to graduate.. i can get info..when looking for a new job..


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