Crazy Contract Insight and Advice
If you're on the market for a new position as a Physician, you may be aware of some of the crazy clauses that can be added into contracts from potential employers. In this segment, I'm sharing real-life stories, insight, and advice on how to handle these clauses and situations. This video covers the following issues that may or may not come up in your contract:
- Offers that are sure to burn you out within your first year: on call 365 days, only 4 days off a year, for not nearly enough pay
- Suspicious buy-in requests with little to no background information: what you should know before accepting a buy-in offer and what to pay close attention to in negoation
- Proper practice evaluations to save you from throwing away money that doesn't need to be spent and how much you should assume to spend when starting your own practice
- Letters of intent: are they binding? What if both parties signed them?
- Early termination clauses that might blindside you should you need to leave a practice early
- Signing bonuses: are they a gift? Or an incentive?
- Negotiation timelines: how short is too short?
- Understanding overhead: what are you really agreeing to pay for? And to whom?
- Incentive plans: is it really an incentive? Is there proof of the plan?
- Commitment Length: how long is too long?
- Tail coverage: who should be paying for it?
Check out the video above, leave a like and/or a comment and let me know if you've ever seen some of the clauses in your career hunt and what you did/would do.
If you want to know more about physician contracts or if you would be interested in having me help you with your career and review your contract, go to PhysicianCareerAdvisor.com and see my YouTube videos. I’m also available to speak at your next national or regional conference or Grand Rounds. Additionally, you’ll find PhysicianCareerAdvisor.com on Facebook, Instagram, LinkedIn, and Twitter. Call or text 770-573-7151 or email me at Roger@PhysicianCareerAdvisor.com.
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