How do you feel the PE practices compare? You know the behind the scenes of way more positions than any of us.
As far as I know, all PE practices (I don't work with all of them but do hear about all of them) are on production models so MGMA data wouldn't be helpful for those practices. The PE practices will come closer to MGMA data than private groups but in many cases won't meet it. Here are the base salaries I generally see and hear about across the country for physician-owned private practices:
Comprehensive: $200,000-$250,000
• Cornea: $225,000-$275,000
• Glaucoma: $250,000-$325,000
• Oculoplastic: $200,000-$280,000
• Pediatric: $175,000-$250,000
• Medical Retina: $275,000-$350,000
• Surgical Retina: $300,000-$400,000
There are plenty of outliers to this and the number is very dependent on location and type of practice. For a private practice, I would really just check you're in this general range and dive deeper into the partnership buy-in, how busy you can get, and the production bonus. $50K extra in your first year of practice will be negligible in 5-10 years if you become a partner. I don't say that meaning that $50K isn't a lot of money, it is, but in the long term not so much. The base is more to say "ok, I'm not getting used". If you're evaluating a PE practice, digging into the base salary will be more important because the traditional partnership is not available down the road. I would say a PE offer is likely to be anywhere from 10-30% higher than a private practice but take this with a huge grain of salt because there are many factors that adjust here too. Just to note, there are some PE groups/PE-like groups who are getting more creative with buy-ins and partnerships, generally being more beneficial to the doc.
Here is a helpful tool for comparing base salaries and bonuses on a production model:
Sheet1 Base salary,multiplier for bonus threshold,Bonus threshold,Bonus percentage,Base salary,multiplier for bonus threshold,Bonus threshold,Bonus percentage $300,000.00,0,$1,000,000.00,0.32,$350,000.00,3,$1,050,000.00,0.3 Production in net collections,Bonus ,Total compensation,Production in ne...
tinyurl.com
One of the core issues with the MGMA data besides it being only RVU-based models is the low number of data points/docs that report income.