Below are some of the most frequently asked questions physicians have
about EMP. If you have a question that isn't on the list feel free to
contact us.
Q: How is EMP different than other staffing
groups?
A: All the physicians
become equal owners. After 1900 hours, approximately one year, physicians
become eligible to receive bonuses at the hospitals where they work. Two
years after financial partnership, physicians receive an equal equity
share in the company.
Q: Why does EMP concentrate only on Emergency
Medicine?
A: The reason is focus.
Today we operate in a far more competitive environment than even a few
years ago and the best companies devote all their energy to what they
do best. Emergency Medicine is what we do best.
Q: Is profit sharing available?
A: Profit sharing bonuses are available to every physician
after completing 1,900 clinical hours. Bonuses at each local facility
are split based on the hours that they work.
Q: Is there any reason a physician would
not become eligible to share profits?
A: All physicians who are hired and are still employed with
the company after completing 1,900 hours are eligible to receive profit
sharing bonuses.
Q: What is equity?
A: Equity is the value of the hospital contracts and their
accounts receivable.
Q: Who receives equity?
A: EMP offers physicians equity two years after profit-sharing
eligibility. The physician then has an equal equity ownership with the
physicians who started the company and all other physicians.
Q: How are accounts receivable handled?
A: Accounts receivable are owned by the equity members. At
the time of the emergency physician's retirement the portion of the accounts
receivable owned by the physician is paid to them over a two year period.
Q: How are shifts distributed among physicians?
A: Shifts are evenly distributed among the physicians. Due
to the director's administrative responsibilities, his/her schedule is
tailored to meet those needs. Individual scheduling requests are accomodated
to the maximum extent possible.
Q: With regard to the direction of EMP,
how are the decisions made and who makes them?
A: The equity assets of EMP are held in an Equity Trust,
managed by trustees who are advised by a trust advisory board elected
by the physician equity members. All decisions regarding the direction
of EMP are made by the Board of Directors. The Board of Directors receives
its direction from the equity trust and the medical directors at each
facility. The medical directors receive direction from the physicians
at their location. Through this process each physician at EMP contributes
to the direction EMP takes.
Q: How is joining with EMP different than
being a hospital employee?
A: Joining EMP allows you to control your destiny. As EMP
expands across the country, physicians will be able to move to different
areas without losing seniority or progression toward profit-sharing or
equity or starting at a new hospital as an employee. As a hospital employee
there is always the risk of changing direction, the hospital being sold,
as well as direction in staffing of the emergency department being changed.
Q: What type of benefit package do you
offer?
A:
Partnership after 1900 hours
Equal equity starting after three years
CME/Business expense account ($10,000)
Professional liability insurance, including tail coverage
Physician friendly scheduling
Starting compensation package in excess of $225,000
Q: What staffing parameters are used?
A: All emergency departments are staffed between 2.2 and
2.5 patients per hour. Physician assistants and physician extenders may
be used in order to increase the efficiency of the department.
Q: What are the qualifications for an ED
director and how are they chosen?
A: All ED Directors for EMP have either previous directorship
experience or go through the Directorship Track, in which physicians are
offered administrative experience and attend administrative courses to
prepare themselves for directorship responsibilities. Following completion
of the Directorship Track they enter into an assistant directorship position,
followed by a directorship.
Q: Is there opportunity for advancement
within the EMP organization?
A: EMP is growing at such a rapid rate that there are plenty
of opportunities for advancement. EMP focuses on hiring and advancing
all physicians from within the organization into leadership roles, rather
than hiring outside physicians into these roles.
Q: Has EMP ever lost a hospital contract?
A: Never. We are The Best In Emergency Medicine and are committed
to the success of our partner hospitals and our physicians.
Q: Will EMP be sold? What is in the future?
A: EMP's development plan is to continue to grow as long
as we are able to deliver the highest quality of care. We are not in favor
of medical companies becoming public companies and making profits for
non-physician shareholders. Given EMP's structure, a sell-off is unlikely.
Unlike some groups who have sold in the past, there are not just a few
individuals that would benefit from selling. In the unlikely event that
we were to be sold, or merge with a private group, all physicians would
share equally in the profit.
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