B. Expect to be out-techniqued by other party - remember: its a business, and administrators & attys are the ones who work on the deals
Never accept a verbal offer! After verbal offer, request a letter of intent before you receive a written contract Letter should outline basics of the offer, i.e., salary, termination provisions, job duties/obligations
C. Prepare to respond to the following approaches: 1. The I have no authority approach (my favorite)
2. The Yes, we put all of the changes that you wanted in this new draft approach
3. The We cant change anything in this contract approach (we give this form to all of the doctors)
4. The You dont really need to understand this partI dont approach
5. The Dont use a lawyershell just want to drag it out approach
6. The Its not written in the contract, but you can take my word for it approach
V.Practical Matters A.Legal implications of common k clauseswhat to look out for in drafts 1. Non-compete clause, a.k.a. covenant not to compete
3. Termination of employment 4. Definitions of terms like illness and disability
5. Compensation -flat salary? -income guarantee? -bonus? -after year 1, does compensation become productivity-based?
Does the employer pay for any of the following? –Board fees –Journal subscriptions –Dues to medical groups/associations –CME allowance
Does the employer offer and/or pay for any of the following? –Insurance (life/health/disability) –Malpractice insurance** –401k (any matching?) –Pension plan
Does the employer offer and/or pay for any of the following? –Sick leave or personal leave –Vacation time –CME time –Moving bonus –Signing bonus
Some of the items that I just mentioned are items that you can negotiate!
Other related questions to ask: How is income shared among the group? Is there a buy-in? – When is the employee eligible? –What is she buying? (assets? vote as SH?) –How much did the last dr. pay for a buy-in opportunity?
6. Job duties What does the contract mention or fail to mention? –call coverage? –meeting attendance? –hours at clinic/practice/hospital?
-**Is moonlighting allowed or specifically prohibited?
B. When to lawyer-up C. When to sign the contract
D. Why you must understand what each para. of your k means (English, not Legal-ese) E.What to do if hospl/gp practice is not honoring k clause
Contact Information Elizabeth Rocovich Cline firstname.lastname@example.org 540-774-8800 (ph.) 540-774-8808 (fax)