One of the most overlooked aspects of the employment procedure is the contract.
For most people, especially physicians, whose contract agreement might be the size of a small novel, there is a high chance that they’ve skipped some important details or made room for some pitfalls.
This happens to the best of us, yet we cannot be excused from the dangers of improper contract review.
For instance, an overlooked contract might include a clause that exposes the physician to unexpected liabilities like repayment obligations for sign-on bonuses if they leave the job prematurely.
A quality contract review, in this case, could prevent such incidents, saving physicians money in the long run.
We’ll review Contract Diagnostics—one of the most prominent contract review agencies—to help you understand if they’re the right choice for your physician contract reviews and negotiations.
Key Takeaways
- Contract Diagnostics specializes in physician contract reviews, offering negotiation support since 2011.
- Services include contract analysis, compensation review, and post-review support across all 50 states.
- Compared to Physicians Thrive, Contract Diagnostics provides limited compensation analysis and experience.
- Pricing includes flexible options, but group negotiation pricing lacks transparency.
Table of Contents
Contract Diagnostics: Overview
Contract Diagnostics is a consulting firm, dedicated to reviewing only physician contracts. They’ve been operating since 2011, giving them more than a decade of experience in the industry.
Although they run a mid-sized team of experts with experience in healthcare law and physician employment, they’ve managed to operate a business in all 50 US states.
Their services are streamlined to financially and professionally empower physicians by uncovering hidden risks, helping find fair compensation, and aligning contract terms with their client’s goals.
How It Works
Contract Diagnostics follows a simple approach that ensures their client gets quality service without stress. You can sign up on their site using a PC or mobile device to start using their service.
After signing up, you’ll be booked for an initial consultation. This process allows you to discuss your career goals, specific needs, and concerns, providing the team with context to which they can tailor their review.
As the next step, you’ll need to submit a copy of your contract. It could be an employment agreement, partnership contract, or any other professional agreement.
The next few days would be used to thoroughly analyze the contract. The agency reviews vital components such as
- Compensation
- Benefits
- Job Responsibilities
- Termination clauses
- Non-compete clauses and other restrictive deals
They also ensure that your contract aligns with industry standards.
After the analysis, you’ll receive a detailed report. This report outlines the strengths and potential pitfalls of the contract. Contract Diagnostics will explain each clause clearly, including suggestions for changes or negotiation possibilities.
If necessary, they can help provide support during negotiation, ensuring you get the best possible deal without damaging your professional relationship.
You also get ongoing support after the initial review and negotiation. This includes reviewing amendments or offering advice on future contracts.
Contract Diagnostics Vs Physicians Thrive [Side-By-Side]
| Feature | Contract Diagnostics | Physicians Thrive |
| Years of Experience | 10+ years | 25+ years |
| Contracts Reviewed | Not Available | 25,000+ |
| Compensation Negotiated | Not Available | $5 billion+ |
| Geographical Coverage | 50 States | 50 States + International |
| Free Initial Consultation | Yes | Yes |
| Pricing Flexibility | Yes (FlexPay options) | Yes (Custom packages) |
| Resident/Fellow discount | No | Yes |
| Compensation Analysis | Limited | Comprehensive, real-time |
| Comprehensive Benefits review by CFP® Practitioner | No | Yes |
| Salary Data | MGMA only | 12+ compensation databases including MGMA Custom Report |
| Group Negotiation Support | Available (Custom pricing) | Yes (Tailored packages) |
| Contract Amendment Support | Yes | Yes (Ongoing) |
| Guaranteed 2-3 Business Day Turnaround Time | Yes | Yes |
| Same day turnaround available | Yes | Yes |
| Post-Review Support | Yes (Negotiation guidance) | Yes (Full legal and negotiation support) |
| Annual Compensation Audits | No | Yes (For life) |
| Income Tax Audit | No | Yes |
| Access to Physician Relocation Specialist | No | Yes |
| Access to Physician Real Estate professional to help buy and sell personal residences or investments | No | Yes |
As you can see, Physicians Thrive stands out as the superior choice over Contract Diagnostics in several key areas.
With over 25 years of experience compared to Contract Diagnostics’ 10+, Physicians Thrive brings a deeper level of expertise to the table.
Additionally, Physicians Thrive provides more comprehensive services, such as a real-time, in-depth compensation analysis and tailored group negotiation packages.
Our team also supports a broader range of healthcare professionals and offers ongoing contract amendment and post-review support.
The flexibility in our pricing and personalized service further makes us a more attractive option for physicians seeking robust contract review and negotiation assistance.
Contract Diagnostics: Services, Plans and Pricing
| Services | Plans | Pricing |
| Physician Contract Reviews | Basic Review | $440 |
| Advanced Review | $725 | |
| Negotiation Review | $1900 | |
| Group Negotiation | N/A | Free Consultation |
| PA, NP & CRNA Employment Contracts | Contract Review | $440 |
| Compensation Analysis | $297 | |
| Compensation RX | N/A | $297 |
Packages/Pricing summary
Contract Diagnostics offers services in two major categories: Contract reviews and Compensation RX. The former is subdivided into three other classes, with their plans based on your exact needs. Let’s take a look at them briefly
1. Contract Reviews
Physician Contract Reviews
This is one of its most popular services, as it offers contract reviews for locum tenens, residents/fellows, transitioning attending physicians, and more.
Depending on the plan you choose, you can access a personalized data set, a flexible payment option (FlexPay), and direct communication with your employer.
There are custom packages and rush fee offers also available for individuals with special needs.
Group Negotiation
Contract Diagnostics believes that there are better chances of succeeding at negotiations when they’re facilitated by a group of specialists.
Their group negotiation package is positioned to achieve the best result, using a five-step process, starting from the discovery call.
There is no fixed pricing for this service. However, you can book a free consultation on their site and negotiate your price.
PA, NP & CRNA Employment Contracts
The Physician Assistant, Nurse Practitioner, or Nurse Anesthetist Employment Contracts option offers both contract and compensation reviews through different packages.
This aims to help professionals maximize their earnings, get expert guidance, and expose them to the various available opportunities.
2. Compensation RX
Usually, physician compensation reviews provide the latest salary data for your particular field, giving you an edge during negotiation. However, Contract Diagnostics claims to go above and beyond.
For their physician Compensation RX, they offer a 30-minute strategy call with negotiation plans and steps to boost your earnings. This is in addition to the real-time data you’ll receive, such as MGMA statistics.
Benefits of Choosing Contract Diagnostics
- Specialized Services: Contract Diagnostics only offers services to physicians. This means there is a high chance that you get relevant advice tailored to your needs.
- Negotiation Support: Once you sign up for their compensation plan, you receive guidance on how to negotiate better terms, potentially leading to improved compensation.
- Thorough Analysis: You’ll understand every aspect of your contract after they’ve reviewed it. They review all areas, including compensation and benefits
Possible Challenges With Working With a Contract Review Specialist
- Cost: Professional contract review services can be expensive, which might be a consideration for early-career physicians or those with limited resources.
- Dependence on External Advice: Relying heavily on an external service may limit a physician’s ability to develop personal expertise in contract evaluation and negotiation.
Should You Sign Up with Contract Diagnostics?
Deciding to sign up with Contract Diagnostics largely depends on your financial goals and challenges. Generally, they’re a good option to work with. However, you can choose to explore and compare other similar services like Physicians Thrive.
You can check out Physicians Thrive for exclusive contract review and negotiation plans. Schedule a call for a free consultation right away!
