The Impact of Call on a Physician’s Family: Rewriting the Narrative
Taking two cars to the soccer game. Not being able to have a glass of wine at dinner. A holiday interrupted. There’s no doubt that the burden of call is shared by the families of physicians.
But what about the benefits—are those shared as well?
When the traditional approach to call pay is used, a physician’s additional income seems to evaporate and it’s hard to point to something tangible that was gained from the arrangement. Our approach, on the other hand, creates an executive-like benefit for physicians, giving them the option to defer current income taxes on the call pay. As a result, they are able to accumulate more wealth and decide when the money will pay out. This approach provides physicians with the ability to use their call compensation towards larger financial objectives.
And this is how we can change the impact of call on physicians’ families. By integrating call pay into their overall financial planning, physicians have been able to use it for family vacations, home renovations, college education, or as a retirement supplement, thus sharing the benefits of taking call with the loved ones who also share its burden.
During an annual review of his call pay account, one general surgeon told us, “I used the money to pay for my daughter’s wedding this spring and I wouldn’t have had the money if it hadn’t been for this program.”
It’s hard to measure the value of a program that has that kind of impact on a physician’s life.
SIGN UP FOR OUR NEWSLETTER
If you would like to receive industry updates and articles like the one you see here, complete the form below
Want to Learn More?
Check out these additional resources and solutions for on-call compensation
IS YOUR ON-CALL COMPENSATION PROGRAM SUSTAINABLE? LEARN MORE CONTACT US LEARN MORE CONTACT US The Call Pay Solution® On-call compensation issues involve two divergent perspectives: the medical staff’s and the hospital administration’s. Physicians perceive a justifiable need to be compensated fairly for the services they provide. Administrations face the challenge…
Podcast Title Lessons in Leadership: An Interview with Dr. Tom Oliver Presented by: MaxWorth Consulting Group, LLC Episode Description During his time as president of the medical staff at Winchester Medical Center, Dr. Tom Oliver helped his organization successfully navigate a variety of challenges. But none would test his leadership skills more than an…
Struggling To Align With Independent Physicians? We Can Help. LEARN MORE CONTACT US LEARN MORE CONTACT US The Physicians’ Advantage Plan™ In today’s regulatory environment, attracting, retaining and motivating physician talent is difficult and costly. Hospitals are challenged with the need to provided new physician benefits that are sustainable and…