Physicians: You have dedicated and sacrificed countless hours for your education, ultimately to work in the private setting or an institutional setting of your choice. Now you need a trusted advisor to assist with making informed decisions as to where you will use your skills. Working with an experienced legal advisor to maximize contract outcomes, provides you long term stability while preserving employment options. We council physicians to maximize their skills by assisting with identifying the pros and cons of employment agreements. We strive to allow our clients to make informed decisions, knowing the risks and the rewards. Barreling into employment, failing to review the documents you sign (and understand the pros and cons) can save your ideas, your clients, and your ability to work where you want.
The times when a physician worked for one employer their entire career is becoming increasingly rare. With the increase in specialization, high cost of equipment and dwindling reimbursement, many physicians will be institutionally employed for the entirety of their career. Knowing potential employment risks, can help you establish the foundation for a gratifying and lucrative career.
Where to Start
Our goal is to inform our physician clients to make informed decisions based on their own business and personal goals. We assist in developing a customized plan specifically for you. With tailored solutions based on objective analysis we will help you negotiate your contract, provide discussion points, or merely provide our legal assessment of the pros and cons of your contract.
The type of items that we address in our contract negotiations and letters of explanation include:
- Finding the right practice: What is your ideal practice environment.
- Logistics of the relationship: How do the physicians interact, authority over support staff, responsibility of management?
- Parties’ representations and warranties.
- Working relationship: What are your responsibilities, general or specific, Billing obligations, reporting, compensation structure, RVU explanation and expectation, benefits, fees, associations, CME.
- Insurance (basic, occurrence based, claims based, do you have tail coverage, subrogation waiver)
- Employment models: Joint venture, hospital, practice group, LLC.
- Termination provisions; with cause, without cause, obligations, rights and restrictions under either.
- Patients: rights, buy back.
- Competition: moonlighting, research and development, your own ideas.
Each component of your agreement needs to be intentional and thought out, reflective of the commitment in time and resources you expended to obtain your degree. We can help preserve those rights and maximize your benefits.