Physician Contract Review

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SINGLE CONTRACT
FULL SERVICE PLAN

$549

Single Contract Review

1 Employment Opportunity Reviewed

Unlimited Consultations with Financial Advisor

Access to Independently Contracted Attorney

Annual Access to MGMA Compensation Data

Compensation Audits for Your Entire Career

Annual Income Tax Audit

Option for Attorney to Negotiate on Your Behalf

2-3 Day Turnaround Time

MULTI-CONTRACT
FULL SERVICE PLAN

$799

Multiple Contract Review

2+ Employment Opportunities Reviewed

Unlimited Consultations with Financial Advisor

Access to Independently Contracted Attorney

Annual Access to MGMA Compensation Data

Compensation Audits for Your Entire Career

Annual Income Tax Audit

Option for Attorney to Negotiate on Your Behalf

2-3 Day Turnaround Time

Connect with an advisor

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Get a full financial and legal review.

Physicians Thrive is the only contract review provider who gives physicians access to both a licensed attorney and certified financial planner with every review.

Specialized in physician employment contracts
Our team has worked with over 5,000 physicians throughout all 50 states.

Committed to your success
Whether it’s your first job or you’re an experienced physician, we want to ensure you receive the compensation you deserve and are not legally confined by an unfair contract.

Get a full financial and legal review.

Physicians Thrive is the only contract review provider who gives physicians access to both a licensed attorney and certified financial planner with every review.

Specialized in physician employment contracts
Our team has worked with over 5,000 physicians throughout all 50 states.

Why have your contract reviewed?

One of the most damaging financial threats to your career as a physician is the possibility of inadequate compensation through complex payment formulas or a contract containing legal pitfalls that undermine future income. Low compensation and contract loopholes are two of the main reasons almost 50% of physicians leave their employers, according to the 2013 Physician Retention Survey by Cejka Search and AMGA.

What does the process look like?

If you are interested in engaging our team, you will receive an electronic link where you pay and upload the employment documents and other information related to the opportunity(ies). Once this is done, you are provided a link where you schedule calls with the financial advisor (first) and the lawyer (second). These calls often can be done as soon as 24 hours later.

During your call with the financial advisor, s/he will provide a detailed, written comparison of your offer to industry standards as well as the MGMA database and our own database, and then use that to discuss what changes could be requested. During your call with the attorney, s/he will incorporate the issues discussed with the financial advisor, discuss issues posed by the legal documents, and then coach you in negotiation strategy.

After these calls, if you would like to continue communications with the employer, we will wait in the wings, ready to answer any questions, step in if needed, and prepared to review and discuss the employer’s response. If you would like the attorney to negotiate for you, s/he is willing to do so for no additional charge. Of course, there may be additional phone calls and/or email correspondence during the negotiation process and as things are finalized. The average client will have thorough phone calls with the advisor and attorney at the initial review stage, and then a briefer phone call or email correspondence after negotiation, in order to review the employer’s response, to help decide whether to sign the new (normally final) contract version.

How long does the process typically take?

We offer different turnaround times for each of our different packages and expedited options for physicians in a time crunch. Typically, we review the contract within 2-3 business days.

Doctors having a conversation looking at documents, mixed races, surgeons and doctors

How it works

Request a review.
Simply submit the form above and a member of our team will reach out to you. During this initial call, you’ll pick which package you need, set up a time to meet with the advisor and let us know if you need to set up a payment plan.

Meet with your advisor.
Unlike other companies, you will have the opportunity to meet with a financial advisor (via phone or video call) to ensure your contract includes fair compensation. We compare everything from your signing bonus, relocation costs, vacation time and benefits to what other physicians in your field and region are receiving, using MGMA data.

Attorney meeting.
You will be referred to an attorney who will review your contract, coach you for negotiation or if desired, directly negotiate with the employer. You’ll have unlimited access to your attorney throughout your negotiation.

Ongoing service is always included.
Once your contract has been signed, you will continue to have unlimited access to the financial advisor throughout the contract term for maintenance. Additionally, you will receive annual access to the updated MGMA data for your specialty so you will continue to know how your compensation compares to physicians in your field.

Understanding Contract Review & Negotiation for Physicians

Can I really negotiate
my contract?

The answer is yes. Virtually all employers are open to hearing questions and requests for changes within your employment contract. The exception to this would be if the physician has already had extensive back-and-forth or negotiation with the employer. If that has happened, the attorney may be limited in how much more to negotiate. In this type of situation, pushing too much more could come across as too aggressive. This is why it’s important for the physician to team up with an attorney as soon as possible, and to delay negotiating with the employer until you do.

That doesn’t mean that the employer will accommodate all or any of the physician’s requests. It simply means that most employers are open to discussing anything at the start. Accordingly, the biggest risk to the physician is that the employer says “no” to the physician’s requests. Given this, the physician ought not hold back at all. The physician need not be hesitant, shy or afraid to ask questions or make requests for contract modification at this stage.

Only a very small percentage of times from our experience, an employer may react less favorably to negotiation at this stage. Our attorneys have determined that this occurs less than 1 percent of the time from their experience working with over 5,000 physicians to negotiate their contracts. Also, in our experience, when this happens, it is usually a sign that the employer may not be a good fit anyway. We would not recommend working for an employer who’s not open to discussing contract details. This unfortunate dynamic is normally the sign of an employer that is unbending, has poor communication in the workplace, and has unfriendly employment conditions.

Do I need to use an
in-state lawyer?

While there are state-specific regulations to take into consideration for a contract review, professional physician contract attorneys are familiar with these nuances and can provide review services for any geographic location. In general, the variations between states are extremely minimal, and attorneys specializing in physician contracts are experienced on the regulatory subtleties of different locales.

Don’t let word of mouth and unqualified advice cost you hundreds of dollars on your first employment contract. Investing in professional contract review services can help you negotiate and begin a new job with confidence, security, and a favorable contract that will pay dividends for years to come.

What can be negotiated?

There are over 100 areas in contracts that can be reviewed. It’s not just what’s in the contract but also what is left out of the contract. Contracts are written by attorneys and if something is left out of the contract, it’s not by accident. This isn’t only beneficial for physicians who are thinking about signing but also for doctors who’ve already signed a contract. In both cases, having your contract reviewed brings clarity and an awareness of what’s included in the details of the contract so there aren’t any “waiting to happen” surprises. Some of the common areas that can be negotiated are compensation, signing bonus, relocation reimbursement, vacation time off, CME time off, who pays for your tail coverage and many other areas.

How do I leave my
current position?

Step number one is to review the original terms you agreed to. There might be incentives, bonus or other benefits that you have to return in the event the contract is terminated. If you are planning to stay in the area, even more so there could be some restrictions on your ability to continue working there. Pulling out the contracts you’ve signed and getting a clear understanding of how you can exit is a must. Chances are you’ll have some 3 or 6 month window they’ll want to have notice that you’re leaving.

Watch out for the “with and without cause” termination provisions as those can create even more difficulty for you. If you had a physician contract lawyer help you with the original contract they probably helped you address this section for you. For those who didn’t have major needs for family support early on and now have to make a change, it’s critical to start the search early and go into it with as much data and history so you can use this to get a feel for what it would be like to transplant yourself from one area to the next.

Should tail insurance be
included in the contract?

It’s important to be aware of your employer includes tail coverage as a part of your benefits or if you’ll need to pay for it yourself. For contracts that don’t include tail coverage, it’s wise to see if the employer would either pay for tail coverage or partially raise your compensation to help make it more affordable. There are many things that employers will do to make things more in your favor, working with a contract attorney to include this in your job offer can result in tens of thousands of dollars back in your pocket.