The Physician Retention Program is designed to help support the stability of physician services. It is awarded to physicians who continue to practice on the Island after five years of service.
- Eligibility for the 2019 payment require the physician to be an ordinary member with MSPEI since at least Dec. 31, 2013.
- All payment modalities.
- Earns, under the Master Agreement, at least $20,000 in remuneration in the current calendar year.
No application required. Payment issued in December automatically upon qualification.
Minimum $2,000/physicians (Budget of $500,000 divided amongst qualifying physicians.)
Payment issued annually on or before Dec. 31.
Practice Transition and Succession Planning
When a physician expresses an interest to retire or leave their practice, top of mind is likely “what will happen to my patients when I leave?”. In the current Master Agreement, departing physicians are able to request an incoming physician be recruited to overlap with them as they wind-down their practice.
Family physicians will have a maximum four-week transition period, specialists will have eight weeks and a surgeon is entitled to a 12-week transition period.
The hope is that departing physicians will be able to transition their practice to incoming physicians while still being present to facilitate the transition and “show them the ropes”.
During the period of overlap, the departing physicians and incoming physicians will share a patient panel, physical space, staffing and allotted resources (i.e. OR time, etc.).
ELIGIBILITY FOR DEPARTING PHYSICIANS
- All payment modalities
- Must provide Health PEI six-months’ notice of planned departure
- Must agree to cease practice (and payment) in any pay modality on specified date*
- Must sign a transition agreement
*Written permission may be granted to provide periodic medical services in the future (i.e. surgical assist or locum coverage).
Resource Document: MASTER AGREEMENT: Article A20, page 13.