Physician contract compensation structures are often more complex than they appear. Compensation may include salary and production bonuses based on RVUs or collections, each with critical factors. For RVUs, it's important to know which data set is used (e.g., 2020 vs. 2023 CMS data) and whether bonuses are prorated. Collection-based bonuses require understanding the payer mix and calculation frequency, with proration essential for partial years. Quality bonuses also need clear metrics and proration terms. Fair market value analyses should account for signing bonuses, relocations, and student loans, detailing forgiveness terms. Contract language can obscure the true value, such as a signing bonus being an advance on the base salary. Determining fair market value involves specifying which MGMA data set is used, considering factors like geographic region and practice type.
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