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Physician Contract Negotation

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  • Tim
    replied
    “Should I involve the attorney in the pre-offer term sheet?”
    Although not binding, a letter of intent has a purpose which is both parties are in agreement with the terms with the detail contract to follow according to the terms.
    If you don’t understand it, don’t agree. That is one of the key points of a contract review ,regardless who is engaged, educating you on what you are responsible for providing and what you receive in return. You are already in contract negotiations. The LOI terms will be included. Simple solutions are available to keep negotiations going smoothly. For example, start date.
    Crossing the date out and TBD written in. Get help if you need it. Even if zero additional comp or benefits are increased, you need to understand the LOI and contract.

    Leave a comment:


  • jacoavlu
    replied
    I would simply ask for clarification of the term sheet points that you don’t fully understand.

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  • jfoxcpacfp
    replied




    “That’s silly! A big point of the third party is to absorb all the potential animosity that might arise out of the negotiation process.”

    Until you realize your sweet contract negotiator angered your potential employer and your offer gets pulled. The last two people my group hired that paid a 3rd party got less favorable deals than docs who didn’t.

    If you negotiate reasonably with your potential employer, there’s no reason animosity would arise. And frankly, if making reasonable asks results in a volatile situation, that’s probably a useful tell as to how things will go in the future.

    It’s your money, if it’ll help you sleep at night, spend it. But just like selling a house or investing your money, paying someone doesn’t guarantee better results than you can achieve by yourself.
    Click to expand...


    Do you really think all contracts are black and white? Or that firms that specialize in this area would stay in business if physicians typically had the experience you describe above?

    I believe most of the work CD offers is not in the higher-priced negotiation services, but in contract review, probably the same for Resolve. Why not start there?

    Leave a comment:


  • ZZZ
    replied
    "That’s silly! A big point of the third party is to absorb all the potential animosity that might arise out of the negotiation process."

    Until you realize your sweet contract negotiator angered your potential employer and your offer gets pulled. The last two people my group hired that paid a 3rd party got less favorable deals than docs who didn't.

    If you negotiate reasonably with your potential employer, there's no reason animosity would arise. And frankly, if making reasonable asks results in a volatile situation, that's probably a useful tell as to how things will go in the future.

    It's your money, if it'll help you sleep at night, spend it. But just like selling a house or investing your money, paying someone doesn't guarantee better results than you can achieve by yourself.

    Leave a comment:


  • TravisRADMD
    replied
    Right now I just have a pre-offer term sheet. No red flags but there were some things I didn't fully understand that applied to benefits and growth. It's not a binding contract so is it OK to just sign and go forward with the contract creation. I'm just wondering about signing off on something I don't fully understand and it ends up being something that needs to be changed during contract analysis/negotiation and this causing animosity when they say "your client signed off on it in the pre-offer".  Should I involve the attorney in the pre-offer term sheet? I would prefer to wait so I can get the actual contract and attempt evaluating its complexity before I decide on $650 or $2700 in fee. Thoughts?

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  • VagabondMD
    replied
    Speaking as the former head of a radiology SDG, if I found myself in a negotiation with an aggressive “contract negotiator”, there is a pretty good chance that the offer gets pulled.

    It probably depends what kind of job you are negotiating, and given your screen name (Rad), I think that my comment likely applies.

    Leave a comment:


  • jfoxcpacfp
    replied
    For a contract worth hundreds of thousands of dollars, I believe it is worthwhile to pay for a contract review.

    Professional services are not commodities, though. When somebody is cutting your body open and they are cash only, are you willing to pay 4x more for a higher chance of success? The benefit of using a firm that charges 4x more depends upon the increase in value and higher chance of a successful outcome.

    If your contract is not overly complex (realize that is subjective) I do believe that using a contract firm with a high flat fee may be overkill. Back to the cutting example, hire the more expensive and experienced surgeon for complicated surgeries (I have no idea what those may be) rather than tonsillectomies. Hope I haven’t totally butchered my analogy.?

    Leave a comment:


  • Tim
    replied
    Much depends upon the services you personally need, the contract(s) being offered,the employer and other options you may have. A healthcare attorney that handles physician employment contracts may be a better fit. You need to decide which services fit the best.
    Avoiding a bad contract is probably the most valuable advice you could receive, but that is your choice. Not the advisor.
    I would suggest you use your advisor for advice, not direct negotiations. It is a skill you need to begin learning and can’t effectively delegate.

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  • TravisRADMD
    replied
    That's silly! A big point of the third party is to absorb all the potential animosity that might arise out of the negotiation process.

    Leave a comment:


  • ZZZ
    replied
    Just do it yourself

    Leave a comment:


  • TravisRADMD
    started a topic Physician Contract Negotation

    Physician Contract Negotation

    Does anyone have experience using Dr. Dahle's contraction negation firm recommendations? The guy who wrote the book, Dennis Hursh is charging a fixed rate(analysis & negotiation) of $2700 and Resolve is charging $650. Even Mr Hursh couldn't explain the difference but I wonder if I would get better results with the personalized service of a smaller firm. Big price point difference though. Is his firm possibly 4X better? Also haven't spoke with Mr. Appino at Contract Diagnostics yet.
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