1. How To Negotiate Your First Contract
Salman A. Arain, MD, FACC, FSCAI
Univ. of Texas Health Sciences Center
Houston, Texas

2. I, S. Arain, DO NOT have a financial interest/arrangement or affiliation with one or more organizations that could be perceived as a real or apparent conflict of interest in the context of the subject of this presentation.

3. My History Completed training at Ochnser Clinic in 2007
On faculty at Tulane University between 2007 and 2013
Private practice between 2013 and 2014
On faculty at UTHealth (Houston) since 12/2014
A decade of looking for the perfect job!

4. Medical Contracts
Thousands of physicians sign medical contracts every year
Many sign their first contract – but just as many sign their second or third contract
What you sign up for will affect all aspects of your life – biggest decision you will make

5. The First Job Your first job will probably not be your last job
Average time spent at the first job: 3 years
Most common reason for leaving: lack of growth (aka failed expectations)
My take: You need to craft the ideal job for yourself – and that process starts now

6. Five Common Mistakes Not being aware of your own expectations
Not vocalizing your expectations
Not taking time to review the contract i.e. the fine print
No seeking counsel (or asking for it when it is too late)
Not knowing your employer well enough

7. How To Negotiate Your First Contract
Define your philosophy
Prioritize your needs
Take your time
Take control of the negotiation process
Do your research; ask questions
Use facts not feelings
Know how to get out

8. Tips For Success Know the legal terms used
Terms are often defined in the contract towards the start (italics, bold or quotations)
Contract definitions ≠ dictionary definitions
Look for ambiguities – and clarify them
Ambiguities in a contract are a frequent cause of litigation

9. Tips For Success Research your employer
Don’t rely upon the employer to be fair and reasonable
Beware of vague and unclear responsibilities, for e.g. ‘call will be shared amongst all employees’
Research your employer
Salary, benefits and location are important
But don’t overlook the employer’s past history and reputation

10. Tips For Success Things to look for
Turnover rate
Percentage of physicians who make partner
Profit and loss history
Malpractice claims and pending litigation
Reputation of the employers and partners
Pay attention to the fringe benefits
Make a checklist of benefits that are open to negotiation

11. Tips For Success Things to consider
List these in order to priority (starting with the ‘must haves’)
Remember: If you don’t ask for it, you probably won’t get it!
Things to consider
Car allowance
Vacation and sick leave
Maternity leave
CME reimbursement
Professional dues
Paid holidays
Relocation expenses
401(k) and other retirement plans
Parking
Flex time
Loans

12. Tips For Success
Consider the restrictive covenant aka non-compete clause
Hope for the best but prepare for the worst
Components of the con-compete
Length of term
Geographic limitation
Provisions for exception
Protection for ‘additional income’

13. Parting Words
This is one of the most important decisions of your life, so
Take your time
Use all resources at your disposal
Be true to yourself
Don’t be shy
Most importantly – don’t be devastated if it doesn’t work out the first time!

14. Salman A. Arain, MD, FACC, FSCAI salman.a.arain@uth.tmc.edu
Thank You
Salman A. Arain, MD, FACC, FSCAI