ITEM TITLE:
Approval of Physician Recruitment and Retention Agreement with Dr. Angela Alfaro
SUBMITTED BY: Sheri Pierce, MMC, City Clerk
FISCAL NOTES:
Expenditure Required: $60,000
Unencumbered Balance: $230,000
Funding Source: 350-0200-5500
RECOMMENDATION:
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SUMMARY STATEMENT:
The city council has determined that an insufficient number of physicians presently serve the community, and the high turnover rate of physicians practicing within the City of Valdez is detrimental to the health and wellbeing of Valdez citizens and that recruiting and retaining highly capable physicians to practice in the City of Valdez requires competitive pay and benefits. Therefore it has been determined that offering a financial incentive in addition to regular pay and benefits is necessary to compete in the marketplace for the purpose of retaining skilled physicians to practice medicine in Valdez.
Dr. Angela Alfaro has accepted employment to practice medicine full time in the City of Valdez and intends to continue practice within the city in accordance with her Physician’s employment contract.
Within sixty (60) days of execution of this Agreement the City will provide Physician with a Sixty Thousand Dollar ($60,000) recruitment and transition payment. The $60,000 recruitment and transition payment is compensation for Physician working as a full time employee practicing medicine in Valdez for a (12) month period after execution of this Agreement. If Physician voluntarily or as the result of termination for cause fails to work as a full time employee practicing medicine in Valdez for a period of twelve (12) months after execution of this Agreement, the $60,000 recruitment and transition payment shall be repaid to City on a prorated basis at a daily rate of $164.38.
The City shall pay Physician up to sixteen (16) quarterly retention payments in the amount of Fifteen Thousand Dollars ($15,000) within forty five (45) days of Physician’s completion of the initial twelve (12) months of full-time employment and at the beginning of every three (3) months thereafter until the Physician reaches sixty (60) months of full-time employment from the date of execution of this Agreement. In the event Physician fails to work as a full time employee practicing medicine in the City of Valdez for the entire quarter after receiving a quarterly payment the quarterly payment shall be repaid on a prorated basis at a daily rate equal to quarterly compensation divided by the number of days in the quarter.
This agreement shall become effective on the date it is executed and shall remain in effect for a period of five (5) years, with an option, upon consent of both parties, to extend the Agreement for one (1) additional five (5) year term with the compensation provided in this Agreement adjusted for inflation as indicated by the Consumer Price Index.