Compensation and Benefits Summary
Mercy Hospital Fort Smith offers a full compensation and benefits package for resident physicians that takes effect on the first day of employment.
Annual Compensation
PGY-1 residents receive an annual salary of $59,277.
Continuing Medical Education (CME)
Residents receive up to $1,500 in professional education funds through the Transitional Year Residency. Additional financial assistance may be provided in specific circumstances and must be discussed in advance with the program director.
Health Care Coverage
The Transitional Year residency at Mercy Hospital Fort Smith offers comprehensive medical, vision and dental care coverage for residents and their eligible family members. Coverage is effective on the first day of employment if enrollment forms and supporting documents are submitted within 30 days of the resident’s hire date.
Confidential Counseling and Behavioral Health Services
Residents have access to the Mercy Employee Assistance Program (EAP), which includes 24/7 call centers and personalized assistance with mental health issues, such as work/life balance, stress, grief, substance use, etc. Mercy Hospital Fort Smith also provides referrals for counseling and psychological support for residents in circumstances including, but not limited to, physician impairment.
Life Insurance & Accidental Death and Dismemberment
Residents are eligible for life insurance coverage after 90 days of employment at no expense. Full-time residents and fellows receive life insurance coverage equal to one time their annual total compensation. Supplemental coverage is available at the physician’s expense.
Long-Term Disability Insurance
Residents are required to have long-term disability coverage while employed at Mercy. Individual disability coverage with a monthly benefit of $2,500 is provided at no cost when residents begin the program, regardless of health. An option to increase the coverage with an additional monthly benefit up to $5,500, depending on specialty, is available without regard to current medical conditions on the annual policy anniversary.
Although Mercy pays the premium, the resident owns the policy. Upon completion of training, the resident has the option to continue the policy at the discounted rate.
Medical and Dependent Care Spending Accounts
Residents are eligible for flexible spending accounts, which allow certain health and dependent care expenses to be paid on a tax-free basis.
Vacation and Sick Time
Residents are eligible for three weeks (Monday-Sunday) or 15 weekdays of vacation per year. Residents receive one week (Monday-Sunday) or five weekdays of sick leave per year. Vacation or sick time not used during the year isn’t carried over to subsequent years.
Leaves of Absence
Mercy provides leave-of-absence benefits in compliance with federal law and hospital policy. Approval from the Residency Program Director is required. Types of leave include:
- Family medical leave
- Military leave
- Personal leave
- Educational leave
Retirement Plan
Residents are eligible to participate in Mercy’s 401(k) plan, which is administered by Fidelity.
Advanced Cardiac Life Support (ACLS) and Basic Life Support (BLS)
Mercy pays course registration fees for residents.
Professional Liability
Mercy provides medical professional liability insurance covering participation in our residency programs in minimum amounts of $1 million per claim and an aggregate amount of $3 million. Coverage is provided on either a “claims-made” or “occurrence” basis, which both cover claims arising from patient care provided during our residency programs. Additional details on professional liability coverage are available in section 5 of the Residency Agreement.
Other Benefits
Other Mercy benefits may be available and will be reviewed during residency interviews.
