Attorney Chase Howard will host this live webinar designed exclusively for new physicians interested in learning more about the legal basics of physician employment agreements. He will provide valuable insight regarding recruitment, compensation, restrictive covenants, deal structure and more of the provisions contained in these contracts!
A physician employment agreement is often the first business test for those newly out of residency and can be a costly lesson if not approached with care. New doctors need to work with experienced counsel when negotiating their first physician employment agreement. Proper counsel will not only be able to advise regarding the terms and provisions included in the contract, but will often understand the employment climate well enough to know what may have been left out. From call requirements to insurance coverage and services, locations and hours, a physician employment agreement contains everything that will dictate the first few years of a new physician’s life out of residency.
The average physician employment contract exceeds twenty pages, not including exhibits. While they all include basic terms related to compensation, length and restrictions, many simply do not contemplate important terms that have serious impacts on physician’s daily lives. A physician’s first employment contract is the most significant financial decision of their lifetime. The same can be said for each subsequent contract, which means that understanding, and negotiating, your contract 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.
Many lawyers have written extensively on the legal issues surrounding recruitment agreements, but there is an information gap out there between the discourse over the legal issues and how those issues make an impact on the actual business, the practice. When a practice decides to employ a new physician with the help of a hospital, the practice is essentially a business making a business decision. With that in mind, the practice must fully inform itself of the implications that a Recruitment Agreement will have on their bottom line.
Health law is the federal, state, and local law, rules, regulations and other jurisprudence among providers, payers and vendors to the healthcare industry and its patient and delivery of health care services; all with an emphasis on operations, regulatory and transactional legal issues.