PHYSICIAN CONTRACT REVIEW AND NEGOTIATION
All 50 States | Physician Contract Attorneys
Physician employment agreements can be complex. They are not only legal documents, but they also set the stage for the physician financially. For that reason, our contract review process includes both an attorney and a financial advisor, each of whom specializes in guiding doctors through the contract negotiation process. You receive a comprehensive evaluation of your employment opportunity, from both legal and financial perspectives, from a team that has reviewed contracts worth nearly $1 billion in the aggregate, in every state and in every specialty.
Described below, our team provides contract review negotiation packages to meet your needs. Request a review here, or for more information, see our FAQ.
The contract review process includes a Financial advisor who specializes in health-care industry. S/he analyzes the compensation & benefits, provides advice on financial aspects of the opportunity, researches industry standards along with MGMA’s and Physician Advisors’ own databases (taking into account your experience, specialty and geographical region), discusses findings with physician, and has unlimited availability during the negotiation process.
You will be assigned to an Attorney who specializes in health-care law. The attorney reviews legal documents, coaches physician for negotiation or if desired, directly negotiates with the employer, and has unlimited availability during negotiation process.
The average turn-around time is 2-3 days. Once your contract has been signed, you will continue to have unlimited access to both the Financial Advisor and the Attorney throughout the contract term for any contract maintenance issues.
How much experience does your team have?
Our company started working with physicians nearly ten years ago. During the time since, our team that has reviewed nearly 3,000 employment opportunities, that are worth over $1 billion in the aggregate, in every state and in every specialty.
What does the process look like?
If you are interested in engaging our team, you will receive an electronic link where you pay and upload the employment documents and other information related to the opportunity(ies). Once this is done, you are provided a link where you schedule calls with the financial advisor (first) and the lawyer (second). These calls often can be done as soon as 24 hours later.
During your call with the financial advisor, s/he will provide a detailed, written comparison of your offer to industry standards as well as the MGMA database and our own database, and then use that to discuss what changes could be requested. During your call with the attorney, s/he will incorporate the issues discussed with the financial advisor, discuss issues posed by the legal documents, and then coach you in negotiation strategy.
After these calls, if you would like to continue communications with the employer, we will wait in the wings, ready to answer any questions, step in if needed, and prepared to review and discuss the employer’s response. If you would like the attorney to negotiate for you, s/he is willing to do so for no additional charge. Of course, there may be additional phone calls and/or email correspondence during the negotiation process and as things are finalized. The average client will have thorough phone calls with the advisor and attorney at the initial review stage, and then a briefer phone call or email correspondence after negotiation, in order to review the employer’s response, to help decide whether to sign the new (normally final) contract version.
How do you differ from other firms providing contract review services for physicians?
One differentiator is that our process involves both a financial advisor and an attorney. The former evaluates your compensation and financial position overall; the latter incorporates this evaluation into the legal review and negotiation process. Many other contract-review providers are not this thorough.
Other important areas of distinction include:
– while we use popularly available databases like the MGMA’s, we also have our own internal database on thousands of physicians, which provides an additional layer of negotiation leverage – we can recall specific clients who have applied to work in the same geographic area or even the same employer, and use related information; we can also note trends among our clients’ experiences, in negotiation success, employer flexibility, compensation/benefit achievement, etc.
– while other firms limit access to their professionals, we offer unlimited access during the review, consultation and negotiation process, but also during the contract term for contract maintenance issues
It is impossible to predict how an employer will respond to our negotiation thoughts. We have seen annual six-digit compensation increases, total inflexibility, and everything in-between. What we can say, is that generally speaking, the vast majority of employers are at least willing to listen to negotiation thoughts, and won’t respond unprofessionally (by, say, revoking the offer!). In light of that experience, we encourage our clients not to hesitate to make reasonable requests.
Who are the attorneys that will work with me?
We use multiple attorneys even those of Ivy League pedigree. All of which have at least 10 years of experience each negotiating for doctors and have doctors in their immediate family so each of them are personally invested in your profession. Each has reviewed hundreds (perhaps over one thousand) physician employment opportunities. Familiarity with Indian, Canadian, and other foreign cultures, which is relevant for foreign-born and immigrant clients. These are just some of the credentials of the attorneys that we work with. The fact that so many physician clients return to us for help with other future opportunities, is a confirmation that these attorneys do great work. We are happy to provide more credentials of our attorneys and advisors upon request. Equally importantly, if you are considering other contract-review providers, ask about the attorneys they use: Where did they attend law school? If you don’t like one attorney or if an attorney is unavailable, are there other health-care specialty attorneys available? How much experience – in years and contract numbers – does s/he have?
Are you a law firm?
We are not a law firm. We come from a family of physicians and award-winning wealth advisors that carefully review and select the attorneys that we partner with. We believe in assembling the best team of professionals and maintain extremely close relationships with our attorney partners as we take our clients through the contract review and negotiation process.
How can I get started?
You can request a review here. We look forward to working with you!
Why Have Your Contract Reviewed?
One of the most damaging financial threats to your career as a physician is the possibility of inadequate compensation through complex payment formulas or a contract containing legal pitfalls that undermine future income. Low compensation and contract loopholes are two of the main reasons almost 50% of physicians leave their employers, according to the 2013 Physician Retention Survey by Cejka Search and AMGA.