Know How to Negotiate Your Contract!

What does it take to thrive? To reach your financial goals, it’s best to enlist the assistance of professional negotiators with your best interest in mind when negotiating a physician contract. We do the legwork for you so you can focus on your patients and life’s work while we fight for the best deal you can get.

It is not advised to rely on basic research when it comes to how to negotiate such an important document. A lot of advice articles that you find online will only cover straightforward scenarios and basics that don’t address the special circumstances that occur during real contract negotiations. That’s why you need experts on your side.

Because they are legal documents that set the stage for you financially, our contract review process includes both an attorney and a financial advisor. The former evaluates your compensation and financial position overall; the latter incorporates this evaluation into the legal review and negotiation process.

The process works like this: you provide us with your employment documents and other information related to the opportunity. Then we schedule two important calls: one with one of our expert financial advisors and the other with an attorney, each of whom specializes in guiding doctors through the contract negotiation process.

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.

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.

Long story short? Physician employment agreements are complex. We can help ensure you negotiate a contract that will allow you to thrive.

Let’s talk!


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The Doctor’s Life Podcast 044- All About The Situation

Maybe you’ve been there before; Wanting out of your employer so bad, you’d probably take anything at this point. When something does comes your way, you realize it’s not ideal, but you still really want to take it because it’s not your current employer. You pass on it though and wonder if that perfect situation is out there. But then, that great situation does come up.

Nick Schneider is on The Doctor’s Life Podcast with a couple of stories of clients that were in this exact situation and are glad they waited it out. All episodes of The Doctor’s Life Podcast are available here, iTunes, and Android. Make sure to subscribe and you will be the first to get new episodes of The Doctor’s Life Podcast.


Do Contract Reviews Work?

Contract reviews can be expensive. Do contract reviews work?

Anticipation is defined as a feeling of excitement about something that is going to happen or the act of preparing for something. On average, physicians spend at least 10 years in training and preparing to step into their career. When that day finally comes you’re presented with a 10 – 30 page document outlining and describing in great detail the minutia of the offer. In most cases, comparing the awareness level of what’s actually included in the contract or isn’t included, is a bit lopsided. On one side of the table is the health care organization or practice with their team of attorneys and on the other side of the table is, you. Being presented with the offer usually leads to many different emotions, all in the midst of trying to evaluate the compensation, benefits, implications, ramifications and details of a legal document.

The majority of physicians who are presented with a job offer and contract usually feel that they either can’t negotiate, shouldn’t negotiate, or that there really aren’t areas for negotiation, that the offer is what it is. Continue reading…


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The Doctor’s Life Podcast Episode 039- Do You Need a Contract Review?

Are you getting paid what you’re worth?

Receiving a contract will always make you a bit excited. Be it your first contract or your 12th in your career, it always elicits some emotion. Maybe it’s that raise you’ve been looking for or a piece of the partnership you’ve been fighting for. The problem is these contracts are always written by lawyers, not doctors.

Dave Swan is back on The Doctor’s Life Podcast to tell you what to expect with a contract review and if you may need it. All episodes of The Doctor’s Life Podcast are available here, iTunes, Android, and on SoundCloud. Make sure to subscribe and you will be the first to get new episodes of The Doctor’s Life Podcast. Continue reading…


What Do You Do About Your Job When Your Life Changes?

There are so many ways your life can take a turn, a change in direction, which sends you down an entirely different path than you were going on. What do you do with your job when this happens? You might’ve launched your career years ago and have built up a great patient base with the years ahead looking bright because of all the hard work put in.

It could be a management or ownership change that impacts the culture where the environment goes from being “the work you enjoy” to “the work that pays the bills.” In other cases it might be a business change which impacts reimbursements or how you are compensated. These are the risks of being in the business world and we are all susceptible to them.

What about a scenario where the needs of your family change. When you joined the practice you might have been single. Then got married. Had a couple of kids. Both spouses may be working and that family support which you didn’t need now becomes a “top-of-the-list” concern. How do you pivot at that point? Continue reading…


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The Doctor’s Life Podcast Episode 034- Leaving Your Current Employer

So what happens when you decide it’s time to move on from an employer? When you have decided you’re leaving your current employer, there are many things to consider including your contract and performing a full-scale job search.

Justin Nabity is in The Doctor’s Life Podcast studio with answers to questions you will have when you are leaving your current employer. All episodes of The Doctor’s Life Podcast are available here, iTunes, Android, and on SoundCloud. Make sure to subscribe and you will be the first to get new episodes of The Doctor’s Life Podcast. Continue reading…


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The Doctor’s Life Podcast Episode 024- Changing Your Signed Contract

Changing your signed contract is tough to approach. But what if you’ve signed a contract and have a desire to take a year or two off for fellowship or research?

Justin Nabity is in The Doctor’s Life Podcast studios to give you a rundown on looking in to changing your signed contract. All episodes of The Doctor’s Life Podcast are available here, iTunes, Android, and on SoundCloud. Make sure to subscribe and you will be the first to get new episodes of The Doctor’s Life Podcast. Continue reading…


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The Doctor’s Life Podcast Episode 015- Four Reasons For Leaving A Job

Leaving your job. We all have reasons for doing it. Something may have been promised to you that never panned out. Maybe it was something that started out small, but eventually grew and you decided it was something you did not want to handle any longer.

Nick Schneider is back in The Doctor’s Life Podcast studios with the top four reasons for leaving your job. All episodes of The Doctor’s Life Podcast are available here, iTunes, and on SoundCloud. If you have an Android device, you can download a podcast player (I recommend Podcast Addict), and it will pull from iTunes. Make sure to subscribe and you will be the first to get new episodes of The Doctor’s Life Podcast. Continue reading…


doctors life podcast

The Doctor’s Life Podcast Episode 014- Employee or Independent Contractor

There are some definite pros and cons to being an employee or independent contractor. When you are conducting a job search, you need to make sure you understand your position’s status as an employee or independent contractor, and proceed as such.

Justin Nabity is in The Doctor’s Life Podcast studio with an excellent guide on navigating the differences between the two. All episodes of The Doctor’s Life Podcast are available here, iTunes, and on SoundCloud. If you have an Android device, you can download a podcast player (I recommend Podcast Addict), and it will pull from iTunes. Make sure to subscribe and you will be the first to get new episodes of The Doctor’s Life Podcast.

The more info on the differences, make sure you check out the in-depth guide.


Why Is a Contract Review A Must?

Medical manometer and stethoscope laying on medicine doctor's working table. Doctor writting something on background. Medical help, prophylaxis, disease prevention or insurance concept.One of the aspects of a doctor’s life that is amazing to watch is how they go through so many years of training…learning, developing, trying to get up to speed in their specialty, doing all of this so that they are ready to start their career. They get to the end of those years, and, like a baby bird gets pushed out of the nest to learn how to fly, so doctors get pushed out with little to no training in how to find the right job, sell themselves in an interview, review a contract, negotiate legal terms and set up a financial plan that will set them on a track to financial independence one day.

This lack of business knowledge makes doctors very susceptible to mistakes that have big consequences. Let me give you an example.

We had a urologist contact us for some help with his employer situation. He had been there about two years making a base of $180k, and had fully anticipated he would have been offered partnership by then which was why he took the risk of a lower compensation package. Discussions would happen, the partners would have meetings to discuss his candidacy for partnership and routinely they would make excuses and delay the decision. This went on for some time so that he finally had enough and started to look for other places to go. The contract he signed with them was not reviewed by a qualified employment attorney and he didn’t really negotiate anything so there were restrictions that would make it difficult for him to stay in the area.  That’s when he realized he needed to get help. He learned the hard way from this first contract that the only way to protect himself in the future is to address key terms in the contract before he signed at the beginning.

During this time he was discussing things over with his wife and they decided to pursue an opening near her family so that their kids could be close to their grandparents. While interviewing with one group he was asked, “what would it take financially to get you to come here?” His frame of reference was his current job which he was well underpaid compared to the market so he responded with “250k is the minimum.” How do you think the employer responded? He got exactly what he asked for.

It was at this point he contacted us. He needed help exiting his current contract and also reviewing the new offer. Within our first meeting we learned about his situation and were able to see that he was in a really bad shape. He hadn’t done enough fact finding about the group he joined to learn about the future, he didn’t have the contract reviewed, and tied his own hands behind his back by not negotiating much of anything for fear of a negative reaction and a naïve thought process of “they wouldn’t treat me any differently than the other doctors in the group, right?”

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Once we got into his expectations for compensation and we knew he was heading down the wrong path. We showed him what was the going rate for a urologist coming straight out of training vs one with the experience he had. He was happy to hear that his compensation should be about double, but was equally disappointed after he low balled himself at 250k. From there he opened up his search and was able to find several other options and ultimately landed on the one. He was up and running at triple the income level he would have taken living near the in laws. Since then he’s been able to make huge financial progress and has been fortunate to make some unique investments. And of course most importantly his wife is very pleased with where they ended up.

It is baffling how underserved doctors are in their business acumen.

With a little bit of education, research and coaching, these mistakes can easily be overcome.

We understand that for residencies and fellowships it’s hard for their curriculum to incorporate real life examples to address these issues.

These pitfalls happen every day.

Going into the job search with more intel behind you, a financial advisor who specializes in your compensation, an attorney who daily is representing your specialty for your area and your type of practice, can prevent you from wasting time, getting underpaid, having to relocate, and start over again.