- Industry News
- Law & Malpractice
- Coding & Documentation
- Practice Management
- Finance
- Technology
- Patient Engagement & Communications
- Billing & Collections
- Staffing & Salary
Merit Raises
I'm preparing to do performance evaluations. What does the merit increase percentage look like for our industry in 2006?
Question: I'm preparing to do performance evaluations. What does the merit increase percentage look like for our industry in 2006?
Answer: The short answer is up to 5 percent with 3 percent more common.
But I would add that more practices are creating ranges for each position.
For example, nurses can get 2 percent to 5 percent based on performance in three particular areas of your choosing - say, attendance, clinical quality, and longevity.
Some are even creating tiered positions, like government offices do, so if you get a "promotion" from a level 1 to level 2 radiology tech, it comes with a set salary increase.
Still others, instead of giving a percent of a person's salary, set aside a percentage of the practice's profit at year-end and divide that based on pre-set performance measures.
Asset Protection and Financial Planning
December 6th 2021Asset protection attorney and regular Physicians Practice contributor Ike Devji and Anthony Williams, an investment advisor representative and the founder and president of Mosaic Financial Associates, discuss the impact of COVID-19 on high-earner assets and financial planning, impending tax changes, common asset protection and wealth preservation mistakes high earners make, and more.
Reducing burnout with medical scribes
November 29th 2021Physicians Practice® spoke with Fernando Mendoza, MD, FAAP, FACEP, the founder and CEO of Scrivas, LLC, about the rising rates of reported burnout among physicians and how medical scribes might be able to alleviate some pressures from physicians.
