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[ Corporate Tax - Intermediate Sanctions Excise Taxes ]

Case Study #1 - Medical Directorship
Intermediate Sanctions :|: Case Studies of Potential Excess Benefit Transactions

Dr. Steve Splinter is an internationally renowned orthopaedic surgeon and has just been recruited to the Orthopaedic Department at Presbyterian Medical Center (PMC), from a rival hospital across town where Dr. Splinter has practiced for many years.

The Orthopaedic Department is a major source of patients admitted to PMC and consequently, represents a substantial portion of PMC’s income, as compared to PMC as a whole. Dr. Splinter will be a member of the PMC’s independent medical staff. He will not be employed by PMC. PMC’s administrator, Dr. Robert Romano, and the Chief Medical Officer, Dr. Kerry Weaver, are very excited about the recruitment because Dr. Splinter will be the largest admitter of patients to PMC. Dr. Splinter will not serve on PMC’s governing board or as an officer of PMC. Dr. Splinter will attend monthly Medical Staff committee meetings as a member of the Medical Staff Executive Committee. As part of the recruitment, PMC is about to enter into a one year contract with Dr. Splinter to be a Medical Director for Residency Training for $75,000 per year to supervise 4 residents and fellows in the department. Although the contract is only for one year, it is anticipated that the $75,000 per year payment for Dr. Splinter’s services as a medical director will be renewed annually. PMC’s medical directors for residency training in other departments with 10 - 20 residents have contracts ranging from $15,000 to $20,000 per year.

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