Bringing It All Together




© Springer International Publishing Switzerland 2016
Lewis A. Hassell, Michael L. Talbert and Jane Pine Wood (eds.)Pathology Practice Management10.1007/978-3-319-22954-6_24


24. Bringing It All Together



Michael L. Talbert 


(1)
Department of Pathology, University of Oklahoma Health Sciences Center, 940 Stanton L. Young Blvd., BMSB 451, 73104 Oklahoma City, OK, USA

 



 

Michael L. Talbert




Keywords
Decision methodsPractice evaluationDue diligenceChangePractice fitFitSuccess in practiceInterview questionsMoore’s law


Discussion (1st case in Chap. 1): Evaluating an employment opportunity

Using what you have learned in this book, you should now be prepared to evaluate a potential job. This is the hard part that goes into the details, often referred to in business as “due diligence.” The first of the broad range of things to consider is fit:



  • Establish what you would be expected to do each day and over the long term. Do the duties match what you would like to do?


  • Ask how the hiring practice would define success for you at 5 and 10 years. How does that match with your professional 5- and 10-year goals?


  • Explore why the position is available. Is there new business, a desire for your subspecialty skills, or are you replacing someone who left (why did they leave?)?

If the fit seems good, consider the structure and finances of the group :





  • Is this an independent private practice or a pure employment model? If this is an independent group, is there a partnership track? How are the shares distributed among the partners?


  • Is the practice financially successful ? Develop a sense of their book of business. Is it dependent on one or two potentially shaky contracts? Are finances improving or deteriorating? Can you get an idea of the payor mix? A well-insured patient population can make a large financial difference.


  • How are pathologists paid? You will be offered a starting salary and benefits but should establish expectations over time. How will your salary change in year 2 and beyond? How sure can you be that these expectations will be met? If a partnership track, how many years before you will be considered for partnership, and how is that decision made? How much did the partners make last year? Take time to understand the benefit package. A lower salary with a great benefit package can be more attractive than a higher salary with limited benefits .

Knowing how the practice is doing now is helpful, but at least as important is how the practice will fare in the future:



Oct 29, 2016 | Posted by in PATHOLOGY & LABORATORY MEDICINE | Comments Off on Bringing It All Together
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