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How
the Money Flows |
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Doc 1 |
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Doc 2 |
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******* |
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Doc N |
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10,000+
Cases |
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Billing
& Collecting |
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Billing & Collecting
Expense are 6% |
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Malpractice
& Health Insurance |
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Health Insurance and Malpractice |
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are expenses everyone needs and |
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are covered prior to any income |
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distribution |
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Profit
Center Distribution |
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Income is insurance blind |
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or
"blended" Each physician |
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is paid on productivity basis |
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combined with stipended work |
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Doc A |
Doc B |
Doc C |
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Doc N |
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This is gross income less |
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billing expense, malpractice |
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and Health insurance |
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Retirement |
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Usually the Max ~$45000 |
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CME |
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Physician Discretion |
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Professional Expenses |
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Computer/Cell Phone/ etc |
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Unreimbursed Health |
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Glasses, Dentist, Rx |
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| Income
after pretax expenses |
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Now you get to pay taxes |
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Employeer Social Security |
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You are essentially an employer |
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and employee |
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Employer Medicare Tax |
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Ditto |
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W2 Income |
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This
is what is reported to |
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IRS |
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Social Security Tax |
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You
get taxed again by |
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Uncle Sam-now as employee |
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Medicare Tax |
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You get taxes some more |
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Federal Income Tax withholding |
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You get to pay some more tax |
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April
15 you may owe or get |
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some back |
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State Income Tax withholding |
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Don’t forget Arnold |
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Monthly Paycheck |
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Finally you get to spend your |
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hard earned dough |
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