If you’re hoping this article will provide an exact concierge doctor salary figure for your next physician hire, we need to set expectations upfront: There’s no universal formula, no “market rate plus 15%” equation, that works across all entrepreneurial practices.
What we can offer is a framework to help you think through concierge doctor salary decisions that align with your practice’s unique model and growth trajectory.
Why Concierge Doctor Salary Decisions Are Complex in Entrepreneurial Practices
Setting a concierge doctor salary involves far more variables than traditional employment scenarios. Your practice operates differently than fee-for-service practices with standardized insurance panels of 2,000–3,000 patients.
Traditional salary websites like Glassdoor or MGMA data focus on employed physicians in conventional settings. They can’t account for your practice’s entrepreneurial nature: your personalized service model, unique patient experience standards, or the operational control you’ve built.
Every entrepreneurial practice is distinctive. Your service offerings, staffing approach, pricing strategy, and patient experience standards create a concierge doctor salary context that generic salary data simply can’t address.
Four Important Factors for Concierge Doctor Salary Decisions
1. Ownership and Equity Considerations
The most important distinction is whether you’re hiring an employee or bringing in a business partner.
Employee-Level Physicians
Some physicians want to practice excellent medicine within your established framework without business ownership responsibilities. They’re looking for a competitive concierge doctor salary, meaningful work, and the improved patient relationships that entrepreneurial medicine offers.
These physicians typically aren’t interested in long-term strategic planning, financial risk, or the demands of practice ownership. There’s tremendous value in this arrangement when it aligns with both parties’ goals.
Partnership-Track Physicians
Other physicians seek a true partnership. They want to contribute to your practice’s growth, share in business decisions, and build equity over time. These individuals are natural entrepreneurs who see opportunity in collaborative practice building.
For partnership candidates, equity participation becomes part of the concierge doctor salary discussion. Without ownership upside, you’ll struggle to attract physicians with true entrepreneurial drive.
Succession Planning Integration
Consider how a new physician fits into your long-term vision. Could they eventually operate a satellite location under your brand? Might they be interested in acquiring your practice before your retirement?
These succession considerations affect equity timing and the concierge doctor salary structure. Starting with the end in mind helps create compensation packages that benefit both parties over time.
2. Physician Experience and Background
Experience Level Impact
Some practices require five or more years of independent practice experience. Others welcome physicians straight from residency. Neither approach is correct; it depends on your practice’s needs and mentoring capacity.
Experienced physicians command higher concierge doctor salary expectations but bring immediate value and require less guidance. Newer physicians may accept lower initial compensation but need more support and development time.
Pricing Structure Considerations
Avoid creating different pricing tiers based on physician experience levels.
Don’t charge patients less to see your newer physicians. This devalues their care and creates operational complications as your practice evolves.
Instead, maintain consistent pricing and adjust the concierge doctor salary based on experience and contribution levels.
Panel Development
Will your new physician bring existing patients, or will you need to fill their panel? If you’re building their patient base, factor in your historical patient acquisition costs and timeline.
Review your experience filling previous physicians’ panels: the marketing investment, time commitment, and administrative resources required. This greatly affects the concierge doctor salary equation during the panel-building phase.
3. Comprehensive Benefits Strategy
Think beyond the base concierge doctor salary to the total compensation value. Your benefits package often differentiates your practice from traditional employment options.
Core Benefits
- Retirement planning with 401(k) matching
- Health insurance contributions
- HSA matching programs
- Professional development funding
- CME time and expense coverage
Entrepreneurial Practice Perks
Consider benefits that reflect your practice’s concierge approach for employees too. This might include professional coaching, leadership development, or unique lifestyle benefits that align with your practice values.
Performance and Bonus Structure
Structure bonuses around meaningful metrics: patient satisfaction, practice growth contribution, or professional development milestones. For equity-track physicians, consider allowing salary deferrals toward equity purchases.
4. Legal and Risk Management
Professional Liability
Will you cover malpractice premiums, or will physicians maintain their own coverage? Some concierge medicine insurers offer reduced rates; factor these savings into your compensation calculations.
Key Person Insurance
As your practice grows, consider how each physician contributes to overall practice value. Key person insurance protects your practice and remaining team members if a key physician becomes unable to work.
Non-Compete Considerations
If you include non-compete clauses, the concierge doctor salary may need to be adjusted to account for this restriction. Similarly, if candidates have existing non-competes, factor in any geographical or timing limitations that affect their transition.
Getting Stakeholder Alignment
Concierge doctor salary decisions affect multiple practice stakeholders. Involve your key decision-makers — partners, CFO, and legal counsel — in developing your compensation philosophy.
This collaborative approach guarantees consistency across hiring decisions and prevents misaligned expectations during negotiations.
Ready to Build Your Concierge Doctor Salary Framework?
Developing concierge doctor salary strategies is one of the most discussed topics among Private Physicians Alliance members. Our entrepreneurial physicians regularly share insights on successful hiring, equity structures, and succession planning approaches.
Join Private Physicians Alliance to access more detailed information and peer insights from physicians who’ve successfully scaled their practices through strategic hiring.