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
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
A fellowship program will 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 agreements need to be carefully examined. MGMA benchmarks can help to establish reasonable boundaries.
Private practice physician employment agreements 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 review of physician employment agreements, but I have never had a negative reaction.
A physician recruitment agreement can be utilized to “sweeten the pot” in the underlying physician employment agreement.
Expiration of physician employment agreements doesn’t mean the contract is over. Most 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.
Physicians who don’t give the required notice under their employment agreement risk contract breaches, financial penalties, and professional consequences. Understanding your notice requirements is essential before resigning.
Negotiating your first physician contract influences the rest of your life – beyond your professional career. Use every resource to assure the best outcome.
Unlike at Lake Wobegon, where “all the children are above average,” this health system believes that all physician compenstation should be average.
It’s time that we recognize that the problem with American healthcare isn’t the physicians, it’s the system that doesn’t allow our physicians to do what they’ve been trained so well to do.
Without cause termination of physician employment can be stressful for the physician, but there are beneficial aspects that can be exploited.
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.
