Help - Glossary

Income as a Full Partner
Income as a partner is similar to, "percentage income". The difference is that as a, "full partner", you are entitled to an equal share of the overall group income. As a less than full partner, you may receive a percentage income that is less than that of a full partner.
Income from Hospital
Many hospitals will subsidize a candidate's income. A "yes" answer means that the hospital pays money to the candidate that is separate from his, "Fee-for-Service", income.
Independent Contractor (IRS form 1099)
Provides anesthesia services under contract and receives an Internal Revenue Service (IRS) form "1099". Typically will NOT receive other benefits, such as medical insurance, retirement and time off. An independent contractor must pay his own Social Security, Medicare and income taxes. He must pay estimated tax every quarter.
Anesthesia providers are legally separate from each other. Each provider does his own cases and bills separately.
Individual Practice: Fee-for-service
This is a situation where the candidate will have is own separate practice. His income will be derived from billing and collecting for his own services.
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