Academic Opportunities in KS-SCI & Medical Director, IP & Interventional; MS – Chairman, NY
Practice Purchases in CA, ND, NV
Locum tenens in WA
BUYER FOR SOUTHEASTERN OUTPATIENT PRACTICES AVAILABLE
MEDICAL EMPLOYMENT CONTRACT TIPS
2016 graduates, congratulations on your upcoming program completion! Physicians are strongly advised to negotiate their contracts to avoid misunderstandings, disputes, and litigation. Keep an eye out for the following provisions:
Compensation Structure and Form:
Straight Salary – An annual salary typically paid on a bi-weekly basis for a period of time.
Productivity Bonus – an incentive paid either monthly, quarterly, or annually based on the physicians performance or number of patients seen.
o Needs to clearly state when, how and for what the bonus will be paid.
o Contract should state that physician will receive the bonus for collections received even after the physician leaves the practice.
o Bonus structure needs to be carefully analyzed to ensure there are no violations of self-referrals and anti-kickback laws.
Professional Liability Insurance:
The contract should clearly articulate who is responsible for malpractice insurance.
The following are coverage considerations:
o Occurrence-Based Coverage – Covers claims of physician’s acts while employed, even if the claim is made after the policy is terminated. This is the more expensive policy that provides the greater protection.
o Claims-Made Coverage – Claims are not covered unless it both relates to an act or omission that occurred during the policy period and notice of claim was provided to insurer during the policy period.
“Tail” Coverage – Extends coverage to a period beyond the physician leaving the employer.
Practice Restrictions (“Non-Competes”):
Provisions meant to intimidate and restrict physicians from working for an employer in a similar industry and in close proximity to the former employer. BE CAREFUL- these restrictions could lead to difficulty in securing future employment.
These provisions are generally interpreted by the court in favor of the physician employee unless considered reasonable in scope and time.
Article contributed by
Sibilla Alessi Pantano Gupta, Attorneys At Law,
NYC, NY, 646-612-7847
FEATURED PRACTICE OPPORTUNITIES
SAVANNAH, GA-MEDICAL DIRECTOR, REHAB
Strong hospital system with the best area medical system
Guaranteed patient base
Developing a Pain Management & Spine Center-in-house referrals forthcoming from 25 primary care physicians
No primary care required unless preferred
ST. PAUL, MINNEAPOLIS-PAIN MANAGEMENT
Built-in referral system at a beautiful new facility with well-trained staff
Therapies available in-house in this largest not-for-profit system
Salary & quality incentive plan & perquisite plan & production bonus & sign-on bonus
11-doctor private practice with neurosurgeons, spine orthopedic surgeons, an anesthesiologist, PTs, chiropractors, 1 physiatrist and mid-levels
This practice has the busiest and best spine orthopedic surgeon in NY who does 60 surgeries/week
The current physiatrist says that there is good collegiality among the doctors and the practice is well-positioned now and for the future
Brand new office building with chiropractic services and PT
International center of higher education, as well as medical and technological development.
In 2012, Kiplinger rated Rochester as the fifth best city for families, citing low cost of living, top public schools, and a low jobless rate.
REMINDER – IMMEDIATE RELEASES OF NEW PRACTICE OPPORTUNITIES
If you’d like to receive immediate release of new practice opportunities, please sign up at my website at www.farrhealthcare.com. The upper left hand side has a place where you can enter your email address.
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.
REMINDER – THANK YOU REFERRAL BONUS
As a thank you, Farr Healthcare, Inc. continues its referral bonus program. Any doctors you refer to me for a particular opportunity who ultimately start work at that opportunity, Farr Healthcare, Inc. will provide you with a $1,000 as a thank you. I look forward to hearing from you.