By: Chase Howard
A dentist’s first employer agreement is just as important as their last one. While all contracts include basic terms regarding compensation and restrictions, many simply do not contemplate important terms that have impacts on Dentist’s daily lives. Understanding, and negotiating, your contracts is the most valuable investment you can make prior to entering into a contract.
To understand what’s in your employment contract, simply read it over a few times. To understand not only how those terms affect you, but also what isn’t in your contract, hire an experienced health care lawyer.
While it’s important to understand what is in your employment contract, it’s equally as important to know what is missing from the contract and what to ask in regards to what is included. The below list considers terms that are important both during and after employment.
The following items should be considered:
- Pro-Rated Compensation – In the event of an early termination, is your compensation or production bonus paid to you on a pro-rated basis?
- Administrative/Supervision Duties –Are you responsible for any administrative or management duties? Are you responsible for supervising other providers?
- Partnership or Ownership– Many dental practices are either held on to until retirement, or sold to private equity when the opportunity presents itself. It’s important to ask about the process for partnership/ownership, or what happens in the event of a sale.
- Definitions – No two contracts are the same. Accordingly, every employer has different definitions and meanings for certain terms. Its important to understand generic or confusing terms prior to a dispute.
- Pending Litigation – Its important to find out if your future employer has any lingering and existing legal concerns that may impact your employment.
While these are simply a few considerations, many more terms and items in an employment contract can impact the success of a Dentist.