Are you interviewing for your first medical job or you’ve worked in medicine for years, considering an offer from an employer can be both exciting and stressful. It is highly recommended that you hire a medically focused attorney to assist you in the evaluation and negotiation process.
If you are at the beginning of medical residency, we recommend that you start saving money now for this important step in your career. Being financially prepared to hire an attorney to help with your contract review will reduce financial stress and ensure you are in the best possible shape. set you up for success in your career.
When you get an offer if letter of intent (LOI), hire an attorney to review it before you sign anything. But don’t hire just one.
Because health care is highly regulated, physician employment agreements often contain specific legal provisions that do not apply to standard employment contracts. Therefore, a general business attorney, such as an attorney who handles real estate transactions for your family, may not be the right attorney to review your contract or LOI. Just as there are doctors who specialize in different areas of the practice of medicine, there are also lawyers who specialize in evaluation. physician employment agreement.
There are additional benefits to retaining an attorney experienced in handling physician employment agreements.
First, an experienced attorney can know a lot about the employer’s and your employee’s local health care market. Depending on the size of the employer, the attorney may have previously reviewed and negotiated employment agreements for other medical clients involved in the same employer. If so, your attorney can provide an explanation of what the employer may or may not be willing to discuss. For example, your lawyer may know that the employer is not negotiating with certainty. restrictive covenantsand you will be wasting time and money trying to get deals in that area.
Second, the lawyer can give you insight into some of your questions about the workplace and the market. For example, your attorney can give you a good sense of the employer’s reputation for excellence in the community, competence, stability of his leadership and the way he treats his doctors. This can prove invaluable in understanding whether the prospective employer will be a good fit for you.
Finding attorneys who specialize in medical employment contracts is not difficult. Contacting the state medical association in the state where you will be working is one of the best ways to find attorneys who are qualified to review and consult. your medical employment contract. Be sure to find an attorney who is licensed to practice law in the state where you will be working because state legal requirements may apply, as well as federal law.
Legal fees vary by country. However, there are a few factors that affect how much the attorney will cost, such as the fee structure and what you want the attorney to handle for you.
One way to pay your attorney is by the hour. Another is to pay a fee.
In addition, you can specify what you want the lawyer to do for you. For example, you can ask a lawyer to review the employment contract identify any traps and suggest a few important points you might want to discuss, then discuss the offer directly with the potential employer. Some doctors choose this type of arrangement because they feel comfortable dealing directly with the employer or because they want to reduce legal costs. Most doctors, however, prefer to have a lawyer review and negotiate the contract.
Learn more about understanding of employment contracts.