What are some things to keep in mind when negotiating a job contract for full-time staff employment? How does one go about getting a lawyer that specializes in medical contracts?
as far as contracts are concerned, it depends on what type of practice it is. there are a number of different practice set ups: solo practice, single specialty group, multi specialty group, hospital employee, academic. all of these allow for different opportunities as far as bonuses and other financial incentives.
a couple of things to look for in a contract are initial financial compensation package (some people call it a salary). you need to know if it is a Guarantee for x number of years. if that guarantee is tide to a certain amount of production. if you "salary" is based on you production, you need to know what your payor mix is for the practice. you need to know who does the billing. what is the average % of the bills that are collected?
if there are ancillary services in the practice (mri, pt, etc.), when will you be eligible to receive part of that revenue. how is the revenue distributed?
the malpractice insurance: who covers it? how much is it? who covers the tail if you leave?
i know the are many other things, but this is a start. for an attorney, usually you can ask residents from previous year who they used. that is the best way i've seen people find one. (my sister happens to be a contract attorney, so i got that going for me, which is nice)
