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I've officially made it - got a parking spot
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We need to start bringing up "deferred compensation" instead of pay cuts. Hospitals will be making A LOT of money over the next 5 years. They can pay us back.
My group was asked for a VOLUNTARY reduction. Of course we are saying no. A mandatory reduction seems like it would be a breach of contract. I don't have a solution but after having talked to 5 other friends within the same system (Mednax) it's clear this is going to be impacting all providers.
I'm in anesthesia and last week they announced a mandatory 30% salary cut indefinitely for us. Surgical volume is down but we're still going to be busy in the ICU. I don’t understand how it’s legal to unilaterally change the terms of my contract. I don’t have the $$$ to spend on legal fees against their corporate counsel.
When revenue increases we don't make more…
This is exactly why doctors need unions.
One of the most things we need to do is have a standard contract for physicians. Also it's horrible that some of these administrators have been making millions while many of us on the front lines are making fractions of that. Bonuses should be shared with all providers not just go straight to the corporate greed at the top!
We are doing the same. Plus we just took our office staff down to 50% pay and time.
Be sure to read your contract thoroughly and have a contract attorney involved. These corporations care about profits and that is all. They pay their own expensive lawyers to make sure that can continue.