Physician Sign-On Bonus/Relocation Allowance
The physician sign-on bonus and physician relocation allowance are important parts of the physician employment agreement. Here’s what you need to know.
The physician sign-on bonus and physician relocation allowance are important parts of the physician employment agreement. Here’s what you need to know.
When a physician employment agreement offer is made, the employer has decided that you are the one, so don’t hesitate to get a fair deal!
Contractual provisions about starting work under a physician employment agreement can cause physicians nasty surprises. Here are some things to consider.
Malpractice insurance in physician employment agreements can create huge issues – physicians must ensure that they are protected, or be trapped in a job.
For cause termination of a physician employment agreement can have a huge impact on your career, so these provisions must be reviewed and negotiated.
Fellowship programs develop superb clinical skills, but fellowship directors should also provide information about physician employment agreement basics.
Patient contact hour requirements in physician employment agreements are one of the most important determinants of physician lifestyle.
Call coverage requirements in physician employment agreemnts need to be carefully examined. MGMA benchmarks can help to establish reasonable boundaries.
The first employment agreement may not guarantee ownership, but it’s critically important that a path to ownership is discussed.
The bottom line is that physicians must know the bottom line. You don’t always achieve all of the MGMA benchmarks in negotiations, but knowledge is power.
Physicians can be concerned about the employer’s reaction to a legal review of a physician employment agreement, but I have never had a negative reaction.
Physician recruitment agreements can be utilized to “sweeten the pot” in the underlying physician employment agreement.
Most physician employment agreements will continue in full force and effect after an “expiration date”. Nevertheless, it is generally a good idea to negotiate a new agreement when the old one expires.
The cost of failing to give the notice required by your physician employment agreement can be substantial, and the effect on your reputation could be worse.
Negotiating your first physician contract influences the rest of your life – beyond your professional career. Use every resource to assure the best outcome.
After purchasing the physician contract review, you will receive an email asking you to transmit the agreement and any concerns you have to me. Many physicians do this by email, but I will be available by phone, too. In three business days from the time you purchase the Physician Prosperity Program® and transmit the draft physician employment agreement along with any concerns you have about the agreement and the information I will need to perform the MGMA analysis, you will receive a detailed physician contract review letter from me.
After you receive my physician contract review letter, you will have the opportunity to discuss it with me, to make sure all of your concerns were met, and to correct any factual inaccuracies, or to point out things that were verbally promised but didn’t make it into the physician employment agreement. These discussions, and revisions of the letter following these discussions, are included in the initial fixed fee.
Once you are completely comfortable with the physician contract review letter, you transmit the letter to your potential employer.