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. In the presentations I give at different universities and organizations across the country, the feeling and response is pretty uniform and supports this. When I ask the doctors to give some reasons why they think most don’t have their contracts reviewed and negotiated, the answers are also pretty consistent. You don’t want to come across as being difficult, you look forward to knowing that your income will be going from where it was while in training to the level of what the offer would provide or worst case, you don’t want to give any reason for the offer to be rescinded. All of these feelings are real feelings but that doesn’t necessarily mean that these reasons are accurate. In fact, it’s quite the opposite.