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Employment Agreement Tools

Make an informed decision.

Evaluating & Negotiating Offers

There are a lot of things to consider when you're evaluating or negotiating an offer.  This free guidebook can help get you up to speed. 

Employment Agreement Terms

Here are some key contract terms to keep in mind (explanations for each and checklists can be found in the free guidebook):

Job Requirements
Start Date
Board Certification Timeline
Practice Location
Duties
Call Coverage

Compensation
Base Salary
Bonus Structure / Performance Compensation
Signing Bonus / Relocation Expenses
Student Loan & Housing Assistance

Malpractice Insurance
Coverage Limits
Responsibility for Tail

Benefits
Health Insurance
Disability and Life Insurance
Maternity / Paternity Policy
Vacation and Sick Days Policy
CME Expenses
Dues, Subscriptions, Licensing
Board Certification and Associated Expenses

Termination
Length of Initial Term
Termination For and Without Cause

Other Provisions
Non-Solicitation Covenant
Non-Competition Covenant
Dispute Resolution (e.g., arbitration)
Restrictions on Outside Activities
Restrictions on Where You Can Live
Required Notice Periods
Partnership Opportunity?

Other Important Considerations

Of course, there are other factors to consider, too.  The contract defines the bounds of the employment relationship, but oftentimes, other factors, including so-called "soft" factors or intangibles, really determine whether a practice will be rewarding and a good fit.  Here are some other important considerations to keep in mind (explanations for each and checklists can be found in the free guidebook):

Business Evaluation
Business and Finances
Practice Management
Business and Market Outlook

Practice Culture
Cordial interactions among physicians?Physicians socialize outside of work?


 

Employer Reputation
Physicians currently employed by group are positive about group?
New physicians' ability to meet workload expectations?
Low physician turnover?
Physicians formerly employed by group are positive about group?

Physician Growth and Development
Dedication to helping new physicians grow and succeed?
Good mentoring and development of referral relationships?
Advertises new physicians?

Private Groups
How are cases assigned?
How are employee (staff) physicians treated compared to owner (partner) physicians?When did the practice make its last partner?How long did that person work in the practice before making partner?
How many physicians have been hired in the last 5-10 years, and where are they now?

 

 

Let's talk.

The terms of your employment contract are as important as your compensation. I'm here to help.

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