Princeton & Central New Jersey, New Jersey
Princeton Dermatology Associates, is a large general and surgical dermatology practice, with four (4) Central NJ locations in Princeton, North Brunswick, Monroe Township, and Hillsborough (all within 12 miles from our Princeton headquarters). All offices are located within very attractive suburban settings at some of the most desirable communities in the US, with excellent school systems, great universities (such as Princeton University and Rutgers), and wide availability of highly diverse educational, cultural and entertainment opportunities. All offices are approximately an hour’s drive from New York City, Philadelphia, the NJ shore and/or the Poconos.
We have several openings available for full time and part time physicians, and welcome candidates seeking a long-term relationship with partnership potential. Physicians who are already licensed and credentialed in New Jersey are especially welcomed. We offer a very competitive compensation package that includes strong incentives with multiple streams of income, paid malpractice insurance, health, dental, and vision insurance, vacation, CME allowance, a very generous 401k Plan, as well as optional opportunities for clinical teaching engagements.
The successful applicants should have excellent clinical and surgical skills, exceptional bedside manner, and share our commitment to deliver the highest quality of care to our patients in a collaborative, friendly, and professional environment.
Compensation & BENEFITS
Guaranteed Base Salary- Year 1 & 2
- $400,000 for full time candidates (depending on qualifications and experience).
- 50% on net collections after 2.25x base salary (current full time general dermatology providers bring in between $900,000 to $1.7 million in total collections).
- Princeton Dermatology Associates is a member of a Clinically Integrated Network of Central Jersey Providers consisting of over 550 physicians of various specialties. As such our commercial insurance rates are 125% or higher than standard insurance reimbursement rates.
- Retention Bonus/Loan Forgiveness up to $100,000-$150,000 – (Requires multi-year commitment from physician). Amount provided is negotiable based on the physician and their experience.
- PTO: 20 days
- CME: 1 week
- Expense Allotment: Covers professional licenses, dues, CME, etc.
- 401k: Safe Harbor Matching at 4 % of salary (i.e., no vesting period for the matching funds).
- Medical, Dental and Vision Insurance
- 2 year track- If the physician candidate wishes to become a partner after the initial waiting period and the practice agrees, the physician has two options:
- 1st Option – The physician can buy into the practice’s two components: 1) Practice Assets and 2) Practice Goodwill. Once someone buys in, they immediately start receiving their corresponding % of the profits (i.e. a 20% purchase may mean $300 K of annual profit). If the Physician leaves or retires, they can sell back to the Practice their shares under the same exact formula they bought in.
- 2nd Option- The physician receives a percentage of the practice’s common stock as a gift (can be upfront or spread out over a 10 year period so the physician may save on gift taxes). When the Physician leaves or retires, they will surrender their shares back to the practice.
- The physician can earn additional compensation by training and/or supervising PAs or ANPs or Aestheticians, but is not obligated to do so. The physician receives 10% of everything they sign off for the PA/NP on year 1, if the midlevel is new to dermatology and requires more training/support. Year 2 they receive 7.5%, and year 3 they receive 5%. If the NP or PA has prior dermatology experience and requires little training/support, the physician earns 5% of everything they sign off on annually. Irrespective of the above, at any time, the physician receives 10% for the 3rd and 4th and so on, PAs or NPs they supervise. In addition, the physician receives 5% for signing off on Aestheticians’ charts. Practice physicians have earned in excess of $90,000 annually from this incentive stream.