When a NP or PA receives a job offer, there are many aspects of the employment relationship that must be carefully analyzed. But let’s be honest, compensation is always at the top of everyone’s mind. In fact, it’s not uncommon for job candidates to flip through the beginning of their offered contract, and get right to the payment section to see what has been offered. And we don’t blame you! Beyond the initial excitement and curiosity about compensation, a common fear we hear from many of our clients is: “I don’t want to sound greedy, but do you think this employer has offered me a fair compensation structure? Are they offering me enough?”
After all, it’s human nature- we want to be paid fairly for what we do, and we also don’t want to be perceived as asking for too much. So how do you strike the right balance when it comes to negotiating the dollars and cents in your nurse practitioner or physician assistant employment agreement?
It all starts with knowing what the market is paying someone like you. Are you in the Midwest? On one of the coasts? A metropolitan or rural area? There are many factors that play into what an employer is willing to offer you, and what they legally can offer you. The compensation offered to a nurse practitioner or physician assistant will typically be comprised of a base salary, and sometimes includes the ability to earn additional incentive compensation once you are producing above a certain level for the employer. Knowing what the average total compensation is for a similar provider in the same region of the country can be enormously helpful when you go to negotiate your employment contract. Secondarily, if you know different benchmarks, such as the median compensation to collections ratio, and the median total collections for a provider like you, you are in a much better position to negotiate a higher base salary, and increased productivity compensation as well.
As healthcare agents and attorneys, we specialize in offering this type of insight to our clients. We have access to the Medical Group Management Association’s Physician Compensation Survey, which includes loads of data relevant to physician assistants and nurse practitioners of all different specialties, and in different areas of the country. We know how to sort through the data and provide you only the most pertinent information on what you should be paid in your next job.
For a low flat fee, we can pull together the compensation figures that are most relevant to you. This information gives you the insight you need in order to negotiate your best job offer.
The attorney-agents of Lauth O’Neill Physician Agency work exclusively on behalf of physicians, physician assistants and nurse practitioners. We offer a flat-rate contract review service, and also will negotiate your employment agreement on your behalf. Please reach out if you would like to learn more or have any questions about what we do!
ATTORNEY ADVERTISING: The content of this article is for general informational purposes only and is not legal advice. None of the information contained herein is intended as, nor should it be construed as, legal advice. The choice of an attorney is an important one, but we are not your attorneys. Your use of this article and your contact with Lauth O’Neill Physician Agency via telephone or email does not create an attorney-client relationship between you and Lauth O’Neill Physician Agency.