Volume 12 Issue 2 April 2019

Partnership tracks typically run anywhere from 3 to 5 years, and sometimes longer. The first order of business is to try to get them to guarantee it if you are still there after a certain amount of time. Most of the time, though, the contract language typically will just promise to discuss it at some specified point, rather than guaranty it will happen. If that is the case, then at least the first request should be to know when discussions will occur, and try to get a commitment for draft documents to circulate 90 days to 180 days in advance of the expected date. This will give you time to evaluate the terms and perform diligence of the practice financials. If discussions carry over longer than expected, then the employment agreement can provide that partnership will nevertheless take effect retroactive to day one of the year in which it was expected.

You might also want to outline parameters for the negotiations, including as to whether:

1. it is equal ownership right away or vested in partial increments over time,
2. whether or not there is a monetary buy-in (versus pure sweat equity for loyalty to-date), and whether that is payable on a pre-tax basis by reallocating profits in favor of the owner for a certain period of time, or whether it is payable on an after-tax basis requiring you pay with post-compensation income (after payroll taxes and other deductions are withheld) or borrow money from a bank to make the payments,
3. if you are no longer terminable without cause once you become a partner (rather than subject to being kicked out at any time), and
4. what you are becoming a partner in – i.e., is it just the medical entity or is there also a management company, office-based surgical entity, ambulatory surgery center and/or real estate entity associated with the enterprise in which you will also participate.

Contributed by:
Ron Lebow, Esq.
Greenspoon Marder LLP
Direct Phone: 212.524.5088
Email: [email protected]
www.gmlaw.com

FL – PANHANDLE
OUTPATIENT OR INTERVENTIONAL

• Work with a nationally-recognized leader in orthopaedic and sports medicine care
• Enticing sign-on bonus + generous relocation allowance + student loan forgiveness  
• Enjoy the beach and a vibrant, historic downtown 

IA – EASTERN
INPATIENT/OUTPATIENT

• $20,000 sign-on bonus + a $220,000 2-year salary guarantee + production bonus + student loan forgiveness
• Low physiatry attrition rate, doctor-friendly environment per the Medical Director
• Hospitalists available
• No travel

NJ – NORTHERN OR CENTRAL
SUBACUTE ONLY OR WITH OUTPATIENT 

• Exciting practice opportunity with a fast-growing subacute program
• No calls, nights or weekends
• Excellent compensation with this full- or part-time practice opportunity

MD – NEAR DC
INPATIENT/OUTPATIENT

• Internists and hospitalists provide the patients’ primary care
• $250,000 plus quality incentive plus RVU incentive
• Employee with comprehensive benefits

DE – NEAR THE BAY AND BEACHES
ASSOCIATE MEDICAL DIRECTOR

• Outstanding opportunity at this beautiful, new rehab hospital
• Help build programs
• Strong internal medicine, ortho and neurology presence

 NV – LAS VEGAS
STAFF PHYSIATRIST

• Associate with one of the larger rehab providers
• Office space available at the facility
• Strong internal medicine and neurology presence

OH – CLEVELAND
INPATIENT/OUTPATIENT

• Exciting practice opportunity to join a well-established, successful health system
• Innovative program with a PM&R residency program
• This growing program is in the process of hiring a PM&R Chief, which is a new position, as they understand the importance of PM&R
• Possibility of student loan assistance

About once every week or two, you will receive an email about any new practice opportunities. More information about the new practice opportunities may be found by clicking on the Openings tab on the Farr Healthcare website. Even more information is available by contacting Farr Healthcare, Inc. at [email protected], 888-362-7200.