I have to agree with Rob's point.
In most other professional partnerships (lawyers for example) it is assumed
that a newcomer will work their way up in the "firm" until they are rewarded
with a partnership. In general practice, we allow almost perfect strangers to
become partners.
3 years to parity seems reasonable, unless you have really strong bargaining
powers - joining a practice in an unpopular area, previous experience as a GP,
skills as a surgeon, etc.
Although a new partner may feel they share the same workload as their
colleagues, they almost certainly do not. Senior partners tend to bear the
brunt of admin work, staff liason etc, until the new doc has found his or her
feet.
--
Ruth
http://www.stamford.co.uk/littlesurgery
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From: [log in to unmask] on behalf of Rob Johnson
Sent: Monday, February 09, 1998 02:32
To: [log in to unmask]
Subject: Re: Parity deals
In article <[log in to unmask]>, Jel Coward
<[log in to unmask]> writes
>50pc is not even a sick joke - don't go there - if they cannot be
>reasonable about this then what are the chances re all the other aspects
>of practice that require compromise.
This is a topic that I feel very strongly about and recognize from the
posts so far that I am likely to be in the minority. OH well here goes
- Hard hat on and flame resistant suit well sealed.
General Practice is a business and should be run and funded as such.
The fact that we are not allowed to include an element of good will in
the buying in figure for a new partner is a scandal. The only way round
this problem is by having a system of gradual progression to parity.
Starting at 50pc and reaching 100pc after 3 years seems to me to be
generous to the incoming Partner.
When I finished my vocational training and was looking for a partnership
I had the same feeling about how unfair it was doing the same clinical
and administrative workload as the full parity partners but only getting
60pc of a share. What I suspect most of you reading this post will not
have appreciated is the amount of time effort and sacrifice it takes to
start up a Practice and turn it into a thriving and secure financial
concern.
I started my practice from scratch just over two years ago. I have now
got a list size of 1850 which has grown in a linear rate from the first
month of opening. The first year you spend living off your savings, the
second year you spend paying back your overdraft and if you are lucky
then the third year you can start making a half repectable living.
Holidays are a non starter, no money for a locum. What price to you put
on that when you ask a Dr. to join you as a Partner.? Starting at 50pc
and reaching 100pc after 3 years seems to me to be exceedingly generous.
Before you start suggesting that I'm bemoaning my lot, then you are
mistaken. Hard work it was, but very rewarding and enjoyable and yes I
would do it again if I had to. All I ask is that newly joining Partners
recognize what was involved in creating the business that you are about
to join and stop thinking that your practice is trying to take you for a
ride.
Rob
Dr R I Johnson
The Family Practice, Church Lane, Sleaford, NG34 7DF
Tel. 01529 305595 Mobile 0378 206475 Fax No 01529 305589
Single handed GP. Send email to [log in to unmask]
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