Strategic Medical Consulting

CONTRACT NEGOTIATIONS

A contract is a crucial aspect of practice for every PA and NP. Contract negotiations and re-negotiations establish a foundation for your employment and can significantly impact your long term future. Unfortunately, this topic isn’t covered well during our training. Even the most confident, knowledgeable clinician can be confused during contract negotiations. Or even worse, they undervalue themselves and end up with low or unfair compensation.

EVERYONE NEEDS A CONTRACT WITH THEIR EMPLOYER:

Verbal agreements are nice in theory but they don’t hold up in a court of law. Things change, people turn out to not be as nice as you once thought, the practice manager turns out to be a huge stumbling block, the doctor’s daughter graduates from school and wants your job, practices are sold every day – these are just a few of the reasons you need to have a contract. Without a contract you can be fired on the spot with no warning and no severance pay. Working without a contract is dangerous and will only hurt you in the long run.

THERE'S MORE THEN JUST COMPENSATION TO CONSIDER:

Everyone wants to be paid fairly and compensated in a way that encourages maximum productivity. We at Strategic Medical Consulting will advocate for a fair and worthwhile compensation package including salary and productivity bonus structure. But you also need to carefully consider some of the other critical issues in a contract such as:

• Malpractice Coverage: Who determines what type of malpractice insurance you’ll have? How does this affect your long term personal liability and finances? Are you responsible for tens of thousands of dollars in tail malpractice insurance if you leave the job? Strategic Medical Consulting will explain the differences to you and help create fair language that protects you

• Educational and Professional Fees: Some employers will not cover professional dues or provide adequate funds to continue medical education. Strategic Medical Consulting can help explain the reasons for providing these benefits to you, emphasize the tax benefits to the employer, and help get the funding you deserve

Restrictive covenants, non-compete clauses, designation of your duties, training periods, locations where you’ll provide services, scheduling appropriate staff to assist you, termination, and how you can leave the practice are just a few of the many aspects you need to consider and clarify in an employment contract!

OUR SERVICES CAN INCLUDE:

• Contract review and feedback
• Help provide suggested changes either verbally or in writing (client preference)
• Explain and detail potential compensation schedules that encourage and reward maximum productivity
• Identify potential problems, pitfalls, and red flags
• Facilitate clear language to explain training periods
• Review compensation and benefits to ensure alignment with other comparable colleagues
• Clearly explain the possible malpractice insurance options and what should be provided by the employer
• Phone coaching and consultation
• Provide articles and references for compensation statistics
• Help create an employment contract that establishes the potential for long term employment
• Create a clear, easy, and fair exit strategy from the practice should that be necessary in the future
• Delineate the reasons you can be terminated from the practice and the compensation you will receive in those possible scenarios
• Role play with scripted answers to positively facilitate negotiations
• Build your confidence during contract negotiations and re-negotiations
• Provide articles and references you can give to the practice to justify and support proposed requests
• Help protect your long term interests

FEE SCHEDULE:

Inquire about pricing options

• Pricing plans include hourly flat rates or risk free plans contingent on receiving an increase in gross salary and bonus
• Reduced rates available for individuals who hold leadership positions within their state chapter, national society, or specialty society
• Payment plans are available for students

Even with help of our expert services, we strongly advise that you hire lawyer to review any contract you intend to sign. They should be familiar with healthcare contracts (especially PAs or NPs) and familiar with your state law.