Why Choose The Toledo Clinic
What sets The Toledo Clinic apart from system-owned models, is that we are a physician-owned and operated medical group. At The Toledo Clinic we feel that our Choose Well, Feel Better way of practicing medicine is the best of both worlds.
Following is an outline of the administrative benefits you will receive at The Toledo Clinic while maintaining your ability to treat your patients your way.
Administrative Services Include:
- Information Technology (IT Support)
- Electronic Health Records (HER)
- Human Resources
- Research
- Accountable Care Organization (ACO)
- Purchasing Power
- Benefits
- Residency & Fellowship Programs
- Medical Education
- Financial Expertise Reports
- Credentialing
- Legal Support
- Marketing
- Compliance
The following chart compares the benefits of The Toledo Clinic versus private practice or hospital/system-owned models.
| The Toledo Clinic Model | Hospital Model | Private Practice | |
|---|---|---|---|
| Practice Type | Private Practice | Hospital Employment | Private Practice |
| Compensation | Based on productivity, you keep what you earn | Limited by contract, surplus, goes to the employer | Based on productivity, you keep what you earn |
| Benefits | No waiting period - most benefits effective date of hire. Complete pre-tax advantage through cost center | Waiting period for benefits effective date | Possibly fully-insured health plan in which insurance company seeks profit |
| Contract | Initial guarantee then full partnership | Employed physician | None |
| Expenses | You control your expenses | Practice Expenses are not in your control | You control your expenses |
| Employees | You are the boss, you can hire or fire employees (with HR assistance) | Hospital system is your boss | You are the boss, you can hire and fire employees (with no HR assistance) |
| Work Load | You decide how hard you want to work | Hospital system decides work load | You decide how hard you want to work |
| Time-off and Vacations | You control your own schedule and vacation time | You do not have control | You control your own schedule and vacation time |
| Retirement Savings | You can maximize your 401k savings | Variable as per contract | At your own expense |
| Malpractice | Favorable rates due to large group | As per contract | At your own expense |
| Management Fees or Pro Rate | Highly competitive. A percentage of revenue collected used for most administrative expenses, accounting, regulations, marketing, etc. | Built into the contract | At your own expense |
| Non-compete Clause | Variable | Built into the contract | None |
| Choice of Location | You have a choice based on your group | May not have a choice | You choose |
| Part-time Work | May be available | May or may not be available | Your choice |
| Outpatient or Hospitalist Type Work | Such opportunities are available based on the specialty | May be available | May vary |
| Buy-in or Buy-out | Not needed, salary guarantee available | None, contract only | May vary |
| Success Rewards | All is yours to keep | Contract plus bonus if included in contract | All is yours to keep |