Contract Management Academy / Physician Contract

How to Review a Physician Contract: What You Need to Know

1. Getting the Lowdown on Physician Contracts

2. Why You Should Review Your Physician Contract

Getting the Lowdown on Physician Contracts

Physician contracts can be a bit like deciphering a foreign language. They spell out the nitty-gritty of what doctors can expect from their jobs and what’s expected of them. Getting a handle on these contracts is key to making sure you’re getting a fair shake. Let’s break down the basics and spotlight the parts you really need to pay attention to.

The Nuts and Bolts of Physician Contracts

Physician employment contracts usually cover a few main points that matter to both the employer and the doctor. Here’s what you’ll typically find:

Pay and Perks: This part lays out your salary, bonuses, and benefits like health insurance, retirement plans, and vacation days.
Job Description: Details what you’ll be doing, your work hours, and what’s expected of you.
Behavior Rules: Includes clauses about professional behavior, following hospital rules, and sticking to medical standards.
Non-Compete Clauses: Stops you from working in a certain area for a set time after you leave the job.
Termination Rules: Explains how either side can end the contract, including notice periods and severance pay.

Must-Check Parts of the Contract

When you’re going through a physician contract review, there are some key parts you need to look at closely to make sure everything’s on the up-and-up. Here’s a quick rundown:

Part	What It Covers
Pay	Breakdown of salary, bonuses, and any performance incentives.
Benefits	Health insurance, malpractice insurance, retirement plans, and other goodies.
Work Hours	Expected working hours, on-call duties, and any schedule flexibility.
Malpractice Coverage	Details on malpractice insurance and related responsibilities.
Non-Compete Clause	Limits on where you can work after leaving the job.
Termination Clause	Terms for ending the contract by either side.
Dispute Resolution	How to handle any disagreements that come up during the contract term.

Going over these parts with a fine-tooth comb can help you spot any red flags and make sure the contract matches your career goals. For more in-depth help, think about getting advice from a physician contract review law firm. They can guide you through the process and make sure you’re not missing anything important.

Why You Should Review Your Physician Contract

Going over your physician contract isn’t just a formality—it’s a must. You need to make sure every term is clear and fair. This section will help you spot the warning signs and use a checklist to make the process smoother.

Watch Out for These Red Flags

When you’re looking at a physician contract, keep an eye out for potential problems. These red flags could mean trouble down the road. Here are some common ones:

Non-Compete Clauses: These can limit where you can work after you leave your job. Make sure they’re not too restrictive.
Termination Terms: Check how and why the contract can be ended. Some contracts let the employer fire you without a reason, which isn’t great for job security.
Pay and Perks: Make sure the pay structure is clear and includes all promised benefits. If anything about salary, bonuses, or perks is vague, get it clarified.
Behavior Rules: Contracts often have rules about professional behavior. If these are too vague or broad, they could cause problems later.
Workload and On-Call Duties: Unrealistic expectations can lead to burnout. Make sure these terms are reasonable and well-defined.
Malpractice Insurance: Check who provides it and if it includes tail insurance, which is important when you leave the practice.

Spotting these red flags can help you negotiate better terms or get things clarified. If the contract is complicated, a physician contract review attorney can offer more insights.

Did You Know?

In 2019, AMA reported that 47.4% of all physicians practice medicine as employees. Only 45.9% are physician owners with their own medical practice. All of those employed physicians can expect, at some point, to have to sign a physician employment contract.

Use a Checklist

A checklist can make sure you don’t miss anything important. Here’s a sample checklist for reviewing a physician contract:

Item	Description
Compensation	Salary, bonuses, and incentives
Benefits	Health insurance, retirement plans, and other perks
Non-Compete Clause	Limits on where you can work after leaving
Termination Terms	Conditions for ending the contract
Workload	Expected hours, patient load, and on-call duties
Malpractice Insurance	Coverage details, including tail insurance
Behavior Rules	Professional conduct and responsibilities
Continuing Education	Opportunities and support for further training

By knowing what to look for and using a checklist, you can handle contract review with confidence and avoid potential pitfalls.

For more information on contract review processes, check out our articles on contract review software, employment contract review, and legal contract review.

Getting Legal Help

Talking to a lawyer can be a game-changer when it comes to reviewing a physician contract. Knowing when to get legal advice and what it might cost can help doctors make smart choices.

When to Call a Lawyer

You should think about getting a lawyer if your employment contract is confusing or full of legal mumbo-jumbo. Lawyers who know their way around physician contracts can help you understand the fine print and spot any potential problems.

Here are some reasons to get a lawyer:

Confusing Terms: If the contract is full of legal jargon or tricky clauses.
Lengthy Contracts: Longer contracts usually have more details that might need a lawyer’s eye.
Negotiation: If you want to haggle over salary, benefits, or work conditions.
Non-Compete Clauses: These can limit where you can work in the future and need careful review.
Termination Rules: Knowing how and when the contract can be ended, and any penalties involved.

What It Might Cost

Hiring a lawyer to review your contract isn’t cheap, but it can save you money and headaches down the road.

Here’s a rough idea of what you might pay:

Service Type	Estimated Cost
Basic Contract Review	$300 - $500
Full Review and Negotiation	$1,000 - $2,500
Hourly Rates	$200 - $500 per hour

Costs can vary based on how complicated the contract is and how experienced the lawyer is. It’s a good idea to get quotes from a few lawyers to find one that fits your budget and needs.

Knowing when to get legal help and what it might cost can make the contract review process smoother, helping doctors make decisions that are good for their careers and personal lives.

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Hiring a Contract Lawyer

So, you’re thinking about getting a lawyer to look over your physician contract? Smart move. This guide will help you find the right lawyer and explain what they do during the review process.

Finding the Right Lawyer

Picking the right lawyer to review your physician employment contract is a big deal. Here’s what you should keep in mind:

Experience: You want someone who knows physician contracts or healthcare law inside out. They’ll get all the industry lingo and specifics.
Reputation: Check out reviews and testimonials from other doctors. Good feedback usually means they know their stuff.
Consultation: Many lawyers offer a first meeting for free. Use this time to talk about what you need and see if they’re a good fit.

Lawyer's Role in Review Process

A lawyer does more than just read your contract. Here’s how they help:

Understanding Terms: They break down all the legal mumbo jumbo so you know what you’re signing.
Identifying Red Flags: They look out for tricky stuff like non-compete clauses, how you can be fired, and if your pay is fair.
Negotiation: They can haggle for better terms so you get a sweet deal.

Here’s a quick look at what you might pay for these services:

Service	Estimated Cost
Initial Consultation	$100 - $300
Full Contract Review	$500 - $1,500
Negotiation and Follow-Up	$1,000 - $3,000

Knowing these points will help you make smart choices when hiring a lawyer for your physician contract review.

Nick Trenkler

Senior Content Manager