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Academic Pay during COVID

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  • Academic Pay during COVID

    Curious what other academic institutions are doing for pay restructuring?

    Thanks
    Last edited by centrebaseball; 04-03-2020, 03:34 PM. Reason: posted in frustration

  • #2
    See other thread -- No furloughs. Noone taking a cut -- yet. Guess a benefit of state system -- so far.

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    • #3
      How do u clean your financial house in this pandemic? Most ppl are not tweedling their thumbs at home. Will be shortsighted to furlough them unless necessary.
      Elective procedures pays the bill in our current model. Just because some specialities are less affected at this time, those other specialities will be essential when normalize to recoup the financial loss and stabilize their bottom line.

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      • #4
        Originally posted by centrebaseball View Post
        My wife is in an academic environment with the current pay structure of monthly salary (teaching, etc) + productivity (% of collections fudge factor minus Dean's tax, etc).

        As COVID has hit her colleagues hard, most are collecting zero productivity. She is lucky to have some revenue kicking in. However, in the infinite admin wisdom, they have decided not to furlough any employees (ie: ppl making full salary sitting at home) and also discussing clinicians go to quarterly productivity distributions.

        We are both less than 5 yrs out of training, and I have also had salary decrease. Thankfully we will be fine financially unless things continue to worsen drastically for months on end. I am mostly mad that they are holding captive money that my wife and all clinicians have earned without taking steps to clean up their financial house. How would you all approach this? Has anyone else in academic environment had a similar proposal?

        Thanks
        depends on financial stability of the institution and whether it's public vs private. For example, here in CA it's hard for UC to do what you describe vs USC and Stanford with billions in their endowments. quarterly productivity bonuses will screw you, we do yearly which averages better.
        It's psychosomatic. You need a lobotomy, I'll get a saw.

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        • #5
          What's her other option...to be furloughed?

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          • #6
            Furloughed can be better. At least your off and not wasting your time doing phone visits.

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            • #7
              No responsible university will be using endowment money to pay physician salaries. That would be insane. Anyone proposing it would quickly be out of leadership.

              Academic medical centers get their money the same way as nonteaching hospitals. Reimbursement for clinical care. Cut the flow of patients, particularly the ones getting lucrative services, and revenue drops.

              The docs who work in academics have a wide range of compensation schemes. Everywhere from pure salary to eat what you kill. But no revenue means pay cuts. This could be losing retirement contributions. Losing bonuses, deferring part of pay or straight forward salary reductions. Can't pay what you don't have.

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              • #8
                It does help when the one who cuts the primary physician checks is the state. It's the negotiated Y that's going to give people indigestion come July 1.

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                • #9
                  Originally posted by StarTrekDoc View Post
                  See other thread -- No furloughs. Noone taking a cut -- yet. Guess a benefit of state system -- so far.
                  which other thread? Can someone link? thanks

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                  • #10
                    Originally posted by gasdoc86 View Post

                    which other thread? Can someone link? thanks
                    maybe the furlough thread?

                    https://www.whitecoatinvestor.com/fo...-any-furloughs

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                    • #11
                      We haven't been notified of any pay changes at all. Right now we're focused on covering all of the expanding ICU sites and moving attending to cover them who aren't necessarily certified but are willing. It helps that our department has a LOT of money saved away for a rainy day...perhaps this is the day.

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                      • #12
                        Originally posted by Zzyzx View Post

                        depends on financial stability of the institution and whether it's public vs private. For example, here in CA it's hard for UC to do what you describe vs USC and Stanford with billions in their endowments. quarterly productivity bonuses will screw you, we do yearly which averages better.
                        I would much rather have a quarterly productivity true up than an annual. Our base pay is approx. 80% of our productivity and can be adjusted. What is the disadvantage?

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                        • #13
                          Leveling on trueups quarterly is hard -- especially for school aged family physicians -- big quarter variations at q3 and q4 traditionally -- hitting at just the wrong times.

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                          • #14
                            We do every 6 months. Mine resent in march *phew* It hopefully does not change until September. Lots of time to make up lost ground or negotiate if I have too.

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                            • #15
                              Originally posted by StarTrekDoc View Post
                              Leveling on trueups quarterly is hard -- especially for school aged family physicians -- big quarter variations at q3 and q4 traditionally -- hitting at just the wrong times.
                              So you're saying the school year decreases Q3 and Q4 production? Wouldn't this be accounted for accordingly in in the true up so that you're whole after Q4? Apologies, I'm not grasping the disadvantage compared to one large yearly lump sum which would make financial planning and investing difficult for me.

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