Most physicians get excited about getting a job offer, and this may lead them to completely ignore the red flags or missing provisions in the physician employment contract. Rushing the contract process is akin to job dissatisfaction, which may cause you to look for another job, most probably in a year.
That’s why physician contract reviews are essential for your contentment with the job and to agree on the employment terms that benefit you, and you can always reach out to contract review specialists to help you out during the process.
Nevertheless, in this article, we will discuss the five key considerations for reviewing a physician’s contract. Let’s dive into it!
1. Don’t Rely on Verbal Promises
Your future employer may make numerous promises to you when you’re negotiating the contract, or you may ask them to add this and that in the contract. You must keep in mind that all of this doesn’t hold any value in legal terms.
Therefore, you must ensure that whatever you have negotiated with your potential employer is present in the contract at the time of signing. This is a crucial part of reviewing the contract. Otherwise, hurrying the process may make you miss out on amazing opportunities and settle for less.
2. You Must Understand Every Part of the Contract
When reviewing the contract, you may come across a variety of legal and technical jargon, which may be hard for a layman to interpret. It’s essential to consider that just because you don’t understand some of the clauses in the contract doesn’t mean that you won’t have to legally abide by them.
That’s why it’s imperative for you to understand every single part of the contract when reviewing it. You can always hire an employment lawyer who specializes in physician contracts, as they can amend the contract keeping your best interest in their mind while also explaining every technical part in layman’s terms.
3. Don’t Overlook Fuzzy Contract Language
When reviewing the physician contract, you must be able to understand the clauses in it, and they shouldn’t contain double meanings. For instance, the contract terms, conditions for contract renewal, and time of contract termination are sensitive issues, and they must be written in clear language in the contract.
You surely don’t want to be locked in a contract for years without any pay raise or get fired without any reason on 30 days of notice. Furthermore, if your boss promised a bonus based on your performance, you must ensure that those metrics are specifically mentioned.
4. Understand Your Obligations
When you’re handed over the contract to sign on the dotted line, you must be able to understand your obligations for a successful employer-employee relationship, and all of this should be mentioned in the contract clearly.
For example, the kind of medicine you will practice, the number of hours you will dedicate to your job, your availability, and your outpatient care duties should all clarify your obligations.
5. Know the Value of Your Benefits Package
The benefits in your contract can add significant value to your basic compensation and improve job satisfaction. That’s why understanding the benefits that you’re entitled to is a crucial part of reviewing the contract.
Some benefits include payment of your licensing fees, time off, liability insurance, student loan payment, and disability insurance. It must also be clearly mentioned how you can access these benefits and how they work.