Physician Contracts During COVID
Many employers took advantage of the pandemic to unilaterally change contracts.
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Physician Contracts
MGMA Compensation Analysis
An MGMA compensation analysis is vital in physician employment contract review: MGMA gives valuable data on salary, total compensation, vacation, and wRVU production MGMA also has data on provider placement, including signing bonus, relocation allowance and CME MGMA provides benchmarks on call coverage requirements and compensation for excess call MGMA also provides compensation for medical
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The Dangers of using a “Physician Employment Contract Lawyer Near Me”
Before looking for a “physician employment contract lawyer near me” consider the following: Although physician restrictive covenants are a creature of state law, the market will enforce most restrictions, even if a court wouldn’t – so the state law is rarely dispositive A lawyer reviewing a physician employment agreement should have broad experience in reviewing
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Medical Practice Buy-In: What You Absolutely Must Know
A medical practice buy-in is a great opportunity, but a physician shouldn’t just jump right in. The following issues should be examined: Corporate documents (or LLC operating agreement) Appointment to management (board of directors or managers of an LLC) Buy-out provisions Owners employment agreement Financial stability of the practice Medical practice buy-in upsides A medical
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Physician Benefits
Physician benefits are a vital part of a physician employment agreement. Here are some things to look for: Vacation and CME paid time off that is appropriate based on benchmarks Paid hospital medical staff dues, medical licensure, and DEA registration fees Cell phones and usage plans and laptop computer AMA/AOA as well as state and
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Physician Disability Provisions in Employment Agreements
What to know about physician disability provisions: Physicians do become disabled! “Disability” should be determined by a physician mutually agreeable to the employer and the physician The physician should be paid during some period of disability (e.g., 90 days) The employer should offer disability insurance Disability insurance should cover the physician if unable to work in “own
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Physician Sign-On Bonus/Relocation Allowance
Physician sign-on bonus and relocation allowance provisions are important aspects of any physician employment agreement. The following aspects of these benefits should be considered: Every offer for a new position should contain a physician sign-on bonus and relocation allowance Physician sign-on bonuses range from $10,000 to $125,000 or more Contract renegotiation should include a retention
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The Physician Employment Agreement Offer
When you have received a physician employment agreement offer, it’s important to keep the following points in mind: You are no longer competing for the offer, they have chosen you They have invested significant time and effort in choosing you You have a lot of bargaining power at this point Don’t be afraid to ask
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Starting Physician Employment: Avoid Catastrophe!
What should a physician employment agreement say about starting physician employment? A physician employment “start date” may have contingencies Some contingencies, like having a medical license and DEA registration, are reasonable Contingencies concerning hospital and managed care credentialing are generally not under the control of the physician The employment agreement should not automatically terminate or
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Protect Yourself: Malpractice Insurance in Physician Contracts
What should a physician employment agreement say about malpractice insurance? Malpractice insurance in physician contracts is critically important. Physicians should know the following: Determine if the employer has “occurrence-based” or “claims-made” insurance If the employer has “claims made” insurance, tail coverage must be purchased to protect against lawsuits that are filed after termination concerning events
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For Cause Termination of Physician Employment: Avoid a Devastating Blow to your Career
For cause termination of physician employment When reviewing a physician employment agreement, the following are topics to examine: Any determination that there was a breach of the agreement should be a reasonable determination made in good faith For cause termination of physician employment should be based upon a conviction of a crime (not a misdemeanor
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A Fellowship Program Should Cover Physician Employment Agreements
A fellowship program will develop superb clinical skills, but fellowship directors should also provide information about physician employment agreement basics.
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Patient Contact Hour Requirements in Physician Employment Agreements
Patient contact hour requirements in physician employment agreements are one of the most important determinants of physician lifestyle.
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Call Coverage Requirements in Physician Employment Agreements
Call coverage requirements in physician employment agreements need to be carefully examined. MGMA benchmarks can help to establish reasonable boundaries.
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Private Practice Physician Employment Agreements: The 1 Thing You Must Beware Of
Private practice physician employment agreements may not guarantee ownership, but it’s critically important that a path to ownership is discussed.
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