Physician Recruitment Process and Compensation Overview
Norman Regional offers a competitive salary with the ability to earn bonuses through an wRVU Bonus program. In addition to that, Norman Regional also offers a comprehensive benefits package. Please consider the following:
Benefits
- Medical, Dental, Life Insurance and Vision Coverage.
- Norman Regional offers 3 different medical plans: Basic Plan, Coordinated Care Plan, and High Deductible Health Plan. Insurance coverage becomes effective the first of the month following an eligible employee’s hire date or change of status to a full- or part-time status, provided that the enrollment is completed within 31 days of hire or change of status date.
- Norman Regional Dental Plan is a self-funded plan, which is administered by GuardianDental. Coverage becomes effective the first of the month following an eligible employee’s hire date or change of status to a full- or part-time status, provided that the enrollment is completed within 31 days of hire or change of status date.
- Norman Regional Vision Plan is a self-funded plan, which is administered by WebTPA. Coverage becomes effective the first of the month following an eligible employee’s hire date or change of status to a full- or part-time status, provided that the enrollment is completed within 31 days of hire or change of status date.
- There are additional benefits, and those details can be provided upon request but include the following:
- Disability
- Wellness Incentive Program
- Retirement programs:
- 401(a) Match Plan Full- and part-time physicians who are voluntarily contributing to the 457(b) Deferred Compensation Plan, are eligible to receive Matching funds made by NRHS. NRHS will match 25% of an eligible employee’s contribution to the 457(b) plan each payroll period. NRHS will match 50% of the eligible employee’s contribution to the 457(b) plan each payroll period after 5 years of credited service. In no event will NRHS’ matching contribution be based on a 457(b) plan contribution in excess of 6% of the employee’s base compensation for the payroll period. If the employee’s contribution exceeds 6% of his or her base compensation, the match will only be made on the portion of the contribution which is 6% of base compensation. Vesting in the Match Plan is based on total credited service from the date of hire as an employee.
- 3 years of credited service 50% vested
- 4 years of credited service 75% vested
- 5 years of credited service 100% vested
- Flexible Spending Accounts/Health Savings Accounts
- PTO – 25 days first year and up to 45 days thereafter based on productivity
- Holiday time off – 6 days
- CME Allowance and Time Off - one week off (5 days) – CME, Dues and Subscriptions – Reimbursed up to $7,000.
- Medical licensure and board recertification fees – Paid by Norman Reginal
- Paid malpractice insurance. Norman Regional has per occurrence coverage which doesn’t require you to obtain tail coverage.
- Commencement Bonus/Relocation Assistance – Negotiable – This will be paid on your first check minus any applicable taxes.
Compensation
- Base Salary - $500,000-$515,000 based on experience.
- wRVU Bonus Proforma:
- wRVUs
- Amount paid per wRVU
- Above of 7513-7738 wRVUs
- $66.55 per wRVU
- Income potential is $750,000+, based in your individual production.