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  • 1.  employment stipends for current fellows for future hiring date

    Posted 11-01-2022 19:31
    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? 

    Janene W. Markuske

    Executive Director | IntelliRad Imaging


    305-712-7229, ext 5       786-833-0244

    jmarkuske@intelliradimaging.com

    3661 S. Miami Ave, Suite 1001, Miami, FL 33133

    www.intelliradimaging.com







  • 2.  RE: employment stipends for current fellows for future hiring date

    Posted 11-02-2022 07:58

    Hi Janene,

     

    We've never extended this type of stipend (yet), but I have gotten similar requests from fellows who have interviewed other places.  The ones I've heard about were between $1,000 and $1,500 per month.  This isn't too bad compared to some of the sign-on bonuses offered in today's market.

     

    Hope this helps.

     

    Mark B. Canada, MHA

    Operations Manager

    R.A. Services, Inc.

    Radiology Associates of Richmond, Inc.

    2602 Buford Road

    Richmond, VA 23235

    (804) 272-8806 ext. 386

    mcanada@raservicesbilling.com

     




    Original Message


  • 3.  RE: employment stipends for current fellows for future hiring date

    Posted 11-02-2022 10:35

    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


  • 4.  RE: employment stipends for current fellows for future hiring date

    Posted 11-02-2022 10:37
    This is new to me as well.  So we agree that a monthly stipend would replace a sign-on bonus, right?
    Thanks!

    ------------------------------
    Shannon Helton, CPC
    Client Manager
    Change Healthcare
    shannon.helton@mckesson.com
    ------------------------------

    Original Message


  • 5.  RE: employment stipends for current fellows for future hiring date

    Posted 11-02-2022 10:48

    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


  • 6.  RE: employment stipends for current fellows for future hiring date

    Posted 11-03-2022 12:04
    What happens if the candidate decides to go somewhere else?  What is the group's recourse if the signee doesn't actually join the practice despite a contract?

    ------------------------------
    Shannon Helton, CPC
    Client Manager
    Change Healthcare
    shannon.helton@changehealthcare.com
    ------------------------------

    Original Message


  • 7.  RE: employment stipends for current fellows for future hiring date

    Posted 11-03-2022 13:47

    You create a contract, of which the candidate signs, stating a few things:

    1. This payment is a precursor for working with XYZ
    2. Upfront payment will be reduced by ABC monthly over an X period of time
    3. If candidate decides not to come work for XYZ, then repayment must be made in full by ____ months.

     

    That being said, this is part of the employee contract they sign to join the practice.  Therefore............

     

    DENNIS WISEMAN

    Chief Executive Officer

    Radiology & Imaging of South Texas

    3226 S. Alameda Street

    Corpus Christi, TX 78404

    (O) 361-888-6684 ext. 2046

    (F) 361-853-4454

    (C) 786-223-2671

     

    logo

     

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    Original Message


  • 8.  RE: employment stipends for current fellows for future hiring date

    Posted 11-03-2022 15:39
    You have them sign a promisory note, so they are contractually bound to repayment at a set interest rate. 



    Sent from my Verizon, Samsung Galaxy smartphone



    Original Message


  • 9.  RE: employment stipends for current fellows for future hiring date

    Posted 11-03-2022 13:31
    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...

    ------------------------------
    Barbara Deppman RDMS, MSM, FACHE, FR
    Chief Operating Officer
    Strategic Radiology
    Palmetto FL
    (810) 210-9885
    ------------------------------

    Original Message


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