Ten Things A Doctor Joining a Medical Group Must Know Before Signing Your Employment Contract

BEFORE JOINING A MEDICAL GROUP, YOU MUST LEARN THE ANSWERS TO THE FOLLOWING QUESTIONS

1. Who owns the property where your office is located?

2. If one or more partners own the property, do they charge your Group rent for the space it occupies? To understand this, let's say that your Group has three doctors. Dr. Senior Citizen bought the building 15 years ago, where your office is located. He's now the landlord. Dr. Middle Aged, and Dr. Young Un' are employees of the Group. Your Group then pays rent, as it always did to the landlord. But now, the landlord just happens to be the senior partner of the Group. In reality, he's paying himself money from his practice for rent. Believe it or not, this is totally legitimate. He's using pre-tax dollars to pay his office rent. He's then receiving rent from the Group to pay any mortgage or other expenses he has on the building, like maintenance and upgrades.