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MEDICAL

CONTRACTS

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“Since an employment contract is one of the most important financial decisions a physician makes, any misunderstandings can cause painful consequences.” 

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-American College of Physicians 

The physician must comfortably understand and be familiar with all parts of her contract. Its provisions have long-term implications, which dictate a doctor's professional success and personal satisfaction with their career.  Additionally, each practice often ties financial goals and operational objectives to its compensation plans. These and a myriad of other aspects should be defined clearly in your agreement. Are they? 

An offer for employment is more than just a document to be filed away after signing. It should be scrutinized thoroughly and understood - 

a roadmap to the physician's success. 

Common Areas of Dispute and Confusion:

  • Performance metrics

  • Insurance Obligations/risk

  • Style of practice

  • Compensation methodology

  • Restrictive covenants

  • Intangible considerations

  • Productivity model

  • Clinical quality

  • Incentive arrangements

  • Hospital privileges

  • Ownership options

  • Investments & offsets

  • Contingencies

  • Operational expectations

  • Milestones & vesting

  • Billing requirements

  • Additional duties 

  • Oversight & authority

  • Termination obligations

  • Renewability

  • Additional costs

  • Expenses/reimbursement

  • Non-financial benefits

  • And more... 

Lastly, it is imperative that all negotiations and agreed-upon terms be documented precisely and integrated as part of your employment agreement. To survive changes in the administration, your contract must be the final word. For this and more, my firm is a valuable asset for your career.

Whether a practicing pediatrician, cardiology resident, or neurology fellow, you are faced with dozens of business, legal, and financial considerations prior to accepting an offer. If relocation is involved, even more may be at stake. 

 

Hopefully your tireless efforts have rewarded you with multiple options from the institutions of your choice. 

 

However, once an employment agreement is signed, the physician alone is the one who must comply with its terms. Do you feel confident about yours? 

 

If not, don't worry.  I can help. Click here.

While you're busy saving eyes, wives, and lives, 

let us save you valuable time and stress with your next employment contract or renewal review.

As an experienced contracts attorney, I provide professionals with comprehensive legal review and analysis of their employment and business documents. This means I:

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  • Map out future performance obligations

  • Identify & revise unfair contract terms

  • Mitigate unrealistic assessment metrics

  • Replace vague requirements with clear expectations for yourself and the practice, and

  • Guide you to negotiate a more balanced and personalized opportunity with your employer. 

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Whether you are new to business or simply prefer the added reassurance of a seasoned consultant, we are here to help. When it comes to risk assessment and contract negotiations, do the heavy lifting - as much or as little as you'd like. Talk to our friendly business attorney today, and see how we can truly help your career.

If "[a]n ounce of prevention is worth a pound of cure," 

Don't guess at the outcome. Choose prevention.

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