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Arch Guillotti said:
That’s kind of short sighted.
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Buying in so partners get to skim money from your labor, for what? Maybe a piece of the pie when they sell the group is the only benefit. Plenty of good jobs out there without buy-ins with a fair equitable system.
 
Arch Guillotti said:
So you can make partner money and skim off the next guy?
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Speaking from experience, in a group that has low turnover and doesn’t churn through new hires, the partner “skim” is painful while you are paying it but hardly noticeable when you are collecting it.
 
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Arch Guillotti said:
So you can make partner money and skim off the next guy?
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how are you skimming off anyone? You bill for what you do and get paid fairly. You pay your share of the costs for billing and overhead. Most of these companies that are charging a buy-in is just to split money among the partners for your labor.
 
lakersbaby said:
how are you skimming off anyone? You bill for what you do and get paid fairly. You pay your share of the costs for billing and overhead. Most of these companies that are charging a buy-in is just to split money among the partners for your labor.
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Dude I have done a buy-in, just like the guy before me and just like the guy after me. As market conditions change, the buy-in may ease but you are nuts if you think I don’t expect the new hire to go through the same process.
 
Details revealed in noncompete lawsuit.

1. Noncompete was not enforceable.

2. One is not entitled to the proceeds of the sale if you don’t stay on with the new entity.

3. Valuation of the practice was underwhelming.



www.leagle.com

CROCKER v. GREATER COLORA | 463 P.3d... | 20180308070 | Leagle.com

Opinion by JUDGE DAVIDSON. 182 1 Greater Colorado Anesthesia P.C. old GCA now known as Greater Colorado Anesthesia Inc. ...20180308070
www.leagle.com www.leagle.com
 
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nimbus said:
3. Valuation of the practice was underwhelming.

www.leagle.com

CROCKER v. GREATER COLORA | 463 P.3d... | 20180308070 | Leagle.com

Opinion by JUDGE DAVIDSON. 182 1 Greater Colorado Anesthesia P.C. old GCA now known as Greater Colorado Anesthesia Inc. ...20180308070
www.leagle.com www.leagle.com
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Why do you feel that way? Each shareholder got 1+ million in cash and stock.

Sure they have to stay for 5 years.

But sounds like they sold the practice for ~$100 million. Was it more lucrative than that?
 
Underwhelming as that amount of buyout is 1-2 years salary at best to give up 21% of your income. Not worth giving up your group got that at all.

Again, why are new grads even going to this practice...buying into a practice that sold out for this and asking you to buy stock????
 
Howard888 said:
... why are new grads even going to this practice...buying into a practice that sold out for this and asking you to buy stock????
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Because they did the math on money, lifestyle, location, prospects, and found this the least ****ty option.
 
Howard888 said:
Underwhelming as that amount of buyout is 1-2 years salary at best to give up 21% of your income. Not worth giving up your group got that at all.

Again, why are new grads even going to this practice...buying into a practice that sold out for this and asking you to buy stock????
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It can be more than 21% that you give up. With resignations and inefficiency, that number can easily approach 34%. Plus USAP still asks a lot of its doctors on a clerical level. Tons of billing work, tons of tiresome “learning modules”, administrative BS, emails never ending. Did I mention the totally incompetent MBAs who make nearly $500k “running” your practice? These are scams on all levels. The specialty of anesthesia (ASA) has done little to protect its doctors from massive exploitation and greedy old partners can’t say no to that dumb check. They slink away after they get the buyout, leaving the younger partners with debt. If you’re already an anesthesiologist, you have to fight these groups. The Mednax, the USAP, all of them. You didn’t go through all thus training to have MBAs running your lives.
 
Howard888 said:
If living in Denver I’d that important there are other options too.

USAP is the biggest scam out there for new grads:

A double buy in: decreased salary and have to pay 100k in stock for partner track-and the group had sold a percentage of your future earnings.

Good luck
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Wait so they forcibly take 100k from your “partnership” salary to pay for some nebulous stock? Wtf?

I was seriously considering applying for this USAP gig for the potential to work hard and earn 500k plus in salary but it sounds to me like that’s not even attainable after stock buy in and other overhead costs...my goodness anesthesia jobs really suck this days.
 
You will indeed work hard to make that $500k. Your overhead is partly related to your productivity. The big earners are paying HUGE amounts of overhead. Like in some cases $160 in overhead. It’s no joke. A private non corporate group could run the entire practice for that. Over a ten year period, you’ve given up a small fortune. DO. THE. MATH.
 
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