RESIDENTS AND FELLOWS
Every resident and fellow needs an expert to provide a detailed report on the positive and negative features of their agreement. Most of the time, contractual terms do not become an issue before or even during the life of the contract. It is when the contract is terminated that most issues arise, and it is often too late to do anything about the terms. Even if the contract is non-negotiable, it is in your best interest to understand the legalize in your agreement. An expert, like an attorney, can provide recommendations and offer contract negotiation services to maximize your benefits and reduce risks.
Since residents rarely get exposure to the business of medicine, this makes reviewing a detailed employment contract their first experience in managing their new role as a professional. It is critical that you review the agreement with a professional prior to executing the agreement. The impact of negotiating your independent contractor or employment contract will have long lasting implications.
It is not uncommon in this environment for established physicians to move between employers, work part-time or on a locum tenens basis. Many physicians may never have been an owner of a private practice, or may have sold their practice to become an employee physician. Regardless, established physicians change jobs more frequently and for many reasons.
A new title or job will bring a number of duties and responsibilities, as well as perks, that the physician will want to outline and protect in a well written contract.
Our firm has the expertise to review contracts for established physicians and provide a detailed report on the positive and negative features of the agreement. Lastly, we will review office space leases, equipment leases and office and staff sharing arrangements.
COMMON RISKS OF NOT HAVING YOUR CONTRACT REVIEWED:
Agreeing to unfavorable terms because you are unfamiliar or uncomfortable with the negotiation process
Restrictive non-compete clauses
Exhausting work or call schedules and locations
Poor vacation structure
Unfair or bifurcated partnership tracks
Contract provisions that violate Stark and the Anti-Kickback Statutes and Regulations
Inadequate malpractice coverage
Confusing bonus structures and uncertain payment terms
Costly set-off or indemnifications provisions
Inconvenient legal venue
BENEFITS OF HAVING YOUR CONTRACT REVIEWED:
Satisfaction with your contractual terms and definitions
Understanding your exposure in the event of a lawsuit
Guaranteed work/life balance
Confidence in negotiating physician contracts and employment agreements
Having the support and guidance of an experienced legal professional
Developing negotiating strategies without straining the potential employment relationship
Ability to present legal concepts in an understandable format
Someone who appreciates the physician’s perspective