Signing your first employment agreement is arguably one of the most important parts about landing your first permanent position.
Take the time to do the homework and speak with professionals so you can be certain that you’re signing a great deal!
Read the entire document yourself – The average contract is over 1,500 pages (double spaced), but don’t be hasty.
Make sure the contract is comprehensive and addresses all potential conflict points in the future.
Be aware of the average income offered for a new physician in the area where you plan to practice.
Productivity or profit-sharing arrangements hold the greatest potential for friction
Day to Duties
Termination – Most contracts contain termination provisions and these should be analyzed closely.
Don’t sign anything until an attorney that you know and trust reviews the contract – the institution you’re signing with wrote the contract to protect themselves, so this is the best way to also protect yourself.
The type of employer you are signing with will largely dictate how much you can negotiate – established practices that recruit regularly may have a deal that works well. Newer practices or those that have never hired from the outside ma be more willing to work with you. HMO’s seldom (if ever) waiver from their standard contracts.