As physicians increasingly opt for practice opportunities in employed-model arrangements, and hiring entities move toward standardizing employment contracts to simplify matters and ensure equitable treatment of existing and incoming physicians, it might appear that there’s scant room for negotiating contract terms.
Many young physicians who are evaluating compensation packages — or if they’re fortunate, comparing two attractive offers — focus primarily on the cash salary component and how competitive that number is...
The primary reason for physician turnover is poor cultural fit, and when thinking through this phenomenon, it shouldn’t come as a surprise. On the contrary, first interviews generally last no longer than a day-and-half and second interviews may last two days with a preponderance of the time dedicated to searching for a home.
Contracts: Understanding your status as a scarce commodity in constant demand leaves maintaining a work-life balance completely up to you.
If your employment is contingent upon being able to admit, treat, or operate on patients within a hospital setting or you are accepting an employed position with a hospital, you need to review the hospital’s medical staff bylaws and rules and regulations.
Although a vast preponderance of all contracts will provide fringe benefits, did you know that physicians are generally treated differently than other groups of employees, including executives, who in some instances may have commensurate salaries?
If your recruitment promises are not reflected within your contract, your employer is not legally obligated to follow-through on any agreement, in particular those initial recruitment discussions.
The purpose of this article is to mitigate any unwanted surprises through an increased comprehension of the common contractual covenants that are typically overlooked and may hinder your departure from an employment setting. These items – malpractice insurance, upfront money, and non-compete language – should be closely examined and negotiated in a manner that mutually benefits both parties.
This article highlights the most prevalent compensation models, their advantages, and the potential disadvantages. The nomenclature may change from location to location; however, the premise behind each model and the potential areas of concern remain consistent.
Understanding the cultural questions to ask a potential employer becomes paramount to ensure that unwanted personal and professional disruptions associated with changing employment settings are avoided.