Money Meets Medicine Contracts and Employment Agreements for Physicians
Feb 7, 2024
Doctors often focus only on salary when reviewing contracts, but there’s much more to consider. This conversation dives into the stress of negotiating employment agreements and demystifies the complexities of medical contracts. Topics like malpractice insurance, intellectual property, and reimbursement structures are crucial for physicians. Listeners learn effective strategies for navigating contracts, maximizing compensation, and advocating for their financial interests in the ever-evolving healthcare landscape. Prepare to become a savvy negotiator!
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Benchmark Data Empowers Salary Negotiations
- Benchmarking physician salary by pay per work RVU helps identify fair compensation.
- Using data can empower doctors to negotiate significant salary increases effectively.
Payment Shifts Hurt Independent Physicians
- Physician work RVUs are getting cut while overhead and malpractice fees shift payments toward hospitals.
- Consolidation benefits hospitals but squeezes independent physicians with less reimbursement and negotiating power.
Clarify Malpractice Tail Terms
- Always clarify what happens to malpractice tail premiums upon leaving a job before signing.
- Review the types of malpractice policies and who covers tail costs under different severance conditions.
