All: Keith's input is what I have seen as well. This works particularly well since this "locks" the candidate in place (somewhat). At least for the contractual "pay-off" time. Crazy times....Thanks...
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Barbara Deppman RDMS, MSM, FACHE, FR
Chief Operating Officer
Strategic Radiology
Palmetto FL
(810) 210-9885
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Original Message:
Sent: 11-02-2022 10:48
From: Keith Chew
Subject: employment stipends for current fellows for future hiring date
Nope – These are additional payments to guarantee that you fill your open positions. I have seen as high as $50K for an annual stipend which is then "paid off" by years of service. You set these up as secured loans with a paydown amount clearly stated for each year of service to the group. Most pay off in 2 – 3 years. You report the income then annually during the "pay off" as additional income on their W-2.
I have groups that are even looking at these stipends during senior year of residency to guarantee they get the candidates they want and need. Succession planning at its best.
Keith E. Chew, MHA, CMPE, FRBMA
Principal
Consulting with Integrity
18 Hawks Nest
Chatham, IL 62629
217-971-5293
Original Message:
Sent: 11/2/2022 10:37:00 AM
From: Shannon Helton
Subject: RE: employment stipends for current fellows for future hiring date
This is new to me as well. So we agree that a monthly stipend would replace a sign-on bonus, right?
Thanks!
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Shannon Helton, CPC
Client Manager
Change Healthcare
shannon.helton@mckesson.com
Original Message:
Sent: 11-02-2022 10:34
From: Linda Bush
Subject: employment stipends for current fellows for future hiring date
Janene,
Last year we had the same question from a fellow. We were offering a sign on bonus at the time so we extended the option to receive the bonus in a lump sum or monthly. He ultimately decided to take it monthly and was very happy.
Linda
Original Message:
Sent: 11/1/2022 7:31:00 PM
From: Janene Markuske
Subject: employment stipends for current fellows for future hiring date
Good evening!
We are looking at potentially hiring a few fellows right now who will graduate next summer, and then come to work for us starting in July 2023. One of the candidates we're interviewing has asked if and how much we're offering for a monthly stipend for the remainder of his fellowship. Is this normal for all rad fellows these days to be paid a stipend, or maybe just some subspecialties? This one happens to be a Neuro IR fellow. What is the typical rate per month that you've seen?