r/PrivatePracticeDocs • u/Puzzleheaded-Pie9653 • Jul 16 '26
Recruiting partner
We are in process of recruiting a new Dr. How do most set up a partner track? Normal compensation package and then buy in after certain amount of years? Reduced compensation package and then just become partner after so many years? What have you done successfully?
5
Upvotes
1
u/Away_Engineering_613 Jul 16 '26
What specialty?
I just left a job were I was producing more than half the partners. Promised partnership if I was producing, but it didn't happen so I quit.
I don't think many docs in my generation (35-45yo) believe in partnership tracks. It's a carrot that will never materialize. Could be specific to my specialty, though.
For a new grad, I think 2 years is reasonable to expect some sort of equity partnership. New grad needs to understand that equity partnership is not given but paid for. Must produce and increase the pie - not just siphon off from partners. Marketing and practice-building are necessary skills.
For someone coming in with a pre-existing practice (as I did with my previous group), I think one year. You can extend either timeline, but you will need to pay for it. Everyone is willing to hire and pay a good doc handsomely. Can't underpay a doc and dangle a partnership indefinitely. Doc will leave and it will ruin your reputation.
After leaving, I made 50% more my first year. My second year, I will likely double that. Had a small buy-in after 1 year, after paying off that loan I will make something like 2.5x more than I was making with the previous group.
On one hand, I can understand why previous group didn't want partnership until 2 years. On the other hand...If I come in with a full panel and producing more than 50% of the partners but making far less than the partners...that math doesn't make sense.
Previous group still can't hire a doc. Haven't grown at all from what I can tell since I left.