Know How to Negotiate Your Contract!
What does it take to thrive? To reach your financial goals, it’s best to enlist the assistance of professional negotiators with your best interest in mind when negotiating a physician contract. We do the legwork for you so you can focus on your patients and life’s work while we fight for the best deal you can get.
It is not advised to rely on basic research when it comes to how to negotiate such an important document. A lot of advice articles that you find online will only cover straightforward scenarios and basics that don’t address the special circumstances that occur during real contract negotiations. That’s why you need experts on your side.
Because they are legal documents that set the stage for you financially, our contract review process includes both an attorney and a financial advisor. The former evaluates your compensation and financial position overall; the latter incorporates this evaluation into the legal review and negotiation process.
The process works like this: you provide us with your employment documents and other information related to the opportunity. Then we schedule two important calls: one with one of our expert financial advisors and the other with an attorney, each of whom specializes in guiding doctors through the contract negotiation process.
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.
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.
Long story short? Physician employment agreements are complex. We can help ensure you negotiate a contract that will allow you to thrive.