Target audience: Physicians (any stage of their career), residents/fellows — even medical students could benefit, we often talk to them as well as resident/fellows on the Business of Medicine topics.

• Topic/Title: Salary Data & Contract Review Tips
• Description:How do you know what you are worth? What’s in a normal contract? How do I know if I have leverage? Kyle Claussen, CEO of Resolve, will join us to discuss the most problematic issues in physician contracts, including:
  • Compensation
  • Call Coverage
  • Maternity Leave
  • Non-competes
  • Side Gigs
  • Intellectual Property
  • Private Equity Buy-outs
  • & More

  Bring your questions and start your career off the right way.

  Additional talking points:

  • Compensation
    • Most physicians are initially offered a compensation package that is below fair market value. It is always best for physicians to consult the latest data on average compensation for their specialty and location. Then they know when a salary or signing bonus is below average and could be negotiated.
  • Call Coverage
    • Call time should be equally shared and rotating between physicians in the workplace. Because these contract terms help set boundaries and prevent burnout, call hours and general scheduling should be close to the top of a physician’s priority list.
  • Non-competes
    • Non-compete clauses, or restrictive covenants, can effectively trap a physician in a job unless they are willing to relocate their place of residence entirely. Such clauses are designed to keep employees from leaving to work for a nearby competitor. However, they are often too restrictive to physicians.
  • Side Gigs
    • If a physician would like to moonlight or work another side gig of some sort, their contract may have something to say about it. Many contracts include some outside activities restrictions which require employer approval before a physician can generate income from a source outside of their day job.
  • Intellectual Property
    • Contracts can give an employer personal property rights to things a physician authors, invents, or otherwise creates during their time of employment using the employer’s resources. These terms should not give an employer too much control over a physician’s property.
  • Private Equity Buy-outs
    • An employment contract should specify what happens in the event of a buyout, acquisition, or merger. If a major change in ownership or practice structure takes place, physicians will want aspects of their jobs protected. This is especially applicable for a path to partnership.

  Q&A

  1. I recently received a few offer letters for different jobs. Should I sign these letters before reviewing the contract? Does Resolve review offer letters?
  2. I’ve been told my contract is non-negotiable. Should I still try to negotiate? Will an employer make exceptions?
  3. How does contract negotiation differ if you have clinical experience and are not right out of training?
  4. How do I know I’m not asking for too much when negotiating compensation in a contract?
  5. Can a call schedule really be negotiated? Is scheduling something that employers will often change?
  6. How long does contract negotiation typically take? What does the process look like?
  7. Can I renegotiate my salary before my contract renews? How do I go about renegotiating?
  8. I am philosophically opposed to signing a contract with a non-compete clause. How do I negotiate with employers to consider employing me without a non-compete clause?
  9. Some employers restrict employment at another place. Is it normal to negotiate out of this? I am planning to start a Botox, injectables and infusions business on the side.
  10. Does the non-compete apply if I am changing positions e.g from clinical to administrative roles?
  11. If you are in one office and a hospital system thinks that a non-compete area includes all the offices in a geographic area of the system, is that legal?
  12. So how does this work? Do we submit our contracts to Resolve in real time as we are negotiating?
  13. What leverage factors do physicians have (bringing up other offers, hiring an attorney, others) are most effective at negotiating changes to a contract?
  14. Do you often find contracts which specify specific staff which will be assigned to support an ambulatory physician and is this negotiable with large health care organizations or private practitioners?
  15. What red flags in locum contracts should we be aware of?