Are you a physician transitioning into practice or facing an employment contract change or renewal?

In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks to Jon Appino, founder of Contract Diagnostics. Jon’s company is dedicated to taking a fun and educational approach to helping physicians negotiate employment agreements and compensation structures.  

Topics Discussed:

 Employment Contracts and Compensation:

What do physicians need to know about contract negotiations?

Why is it important for physicians to understand employment contracts?

How does the contract negotiation process work?

When should physicians engage a third-party’s assistance?

Legal Perspective: Lawyers aren’t always up to date on trends in medicine

Physician Employment Contract: Set clear compensation/benefits expectations

Terminating Agreement: What are financial penalties and career ramifications?

Negotiate or not? Be proactive in job search and site visit; don’t commit yet

Letter of Intent: Let formal discussions begin before signing offer/contract

Employment Decisions: Individualized based on what’s most important

Contracts, agreements, and policies vary depending on different factors

Compensation Structure: Review contract terms regularly to determine relevancy

Renewal Contracts: Ask for what you want, even if it takes difficult conversations

Compensation Data: Understand what the physician/medical market may bare

Predicting Physician Contracts: Continue to be complex and move toward quality

Links:

Jon Appino on LinkedIn

Contract Diagnostics

Contract Diagnostics’s Email

Public Service Loan Forgiveness (PSLF)

Medscape

Medical Group Management Association (MGMA)

Finance for Physicians