Physician Recruitment Process and Compensation Overview
Sanford offers a two-year salary guarantee that transitions to production-based earnings, supported by a full benefits package and additional financial incentives.
Compensation Structure
- Base salary of $700,000 guaranteed for the first two years, with higher starting compensation potentially available for experienced physicians
- Transition to a productivity-based wRVU model after the guarantee period
- Leadership estimates a productive physician can reasonably earn $800,000 or more annually
Additional Compensation
- Sign-on bonus of $150,000, forgiven over three years
- Relocation assistance up to $10,000, with receipts
- One professional association membership
Benefits
- Health, dental, vision, disability, and life insurance
- Paid time off of 20 days plus 6 paid holidays
- CME of 10 days plus a $5,000 annual allowance
- Malpractice coverage with tail
Retirement
Sanford provides a retirement package through Principal Financial Group.
- 401(k) with Traditional, Roth, and after-tax contribution options
- Employer match of 100% on the first 4% and 50% on the next 2%, up to a 5% employer match
- Full vesting after two years
- 457(b) deferred compensation plan
- Access to additional professionally managed investment portfolios
- Optional retirement disability benefit
- After-tax contributions that support automatic Roth conversions for added retirement savings
Licensure
- The physician covers the initial state license, CSR, and DEA fees for the primary state
- Sanford covers renewal costs for physicians at 0.3 FTE or greater
- If Sanford requires additional state licenses, Sanford reimburses those licenses and their renewals