Hi guys,
About to receive my first LOI. What are some “musts” that I need to address when negotiating my first generalist contract?
thank you in advance
Malpractice tail coverage. Who pays it. Larger health systems will usually pay it. Smaller groups will stick you with the bill. To give you can idea, a tail can be $50k to $100k depending on how long you've been in practice. You don't want to be stuck paying your tail because it can handcuff you to a bad job.
What is the termination clause? Can you or your employer terminate the contract with or without cause with the appropriate notice. Notice can be 60 to 90 days typically. If the job sucks and you find a better opportunity, you want to be able to give notice and peace out.
Is there a non compete clause if you leave. In some states this is illegal but in others it is fair game. Try to avoid having this in your contract.
Typically first year or two is guaranteed. What is the pay set up after the guarantee? Is it dollars/rvu or based on collections etc.
Relating to the above. If you are paid on collections, how do new patients get distributed. Do the senior docs get the patients with well paying PPOs while you're stuck with medicaid patients?
Do you get admin time to catch up on paperwork, results etc.
Who schedules surgeries, c sections, inductions etc.
What is the call requirement? Can this change or is this set in stone barring any unusual circumstances?
What is the expected clinical volume expected? Some groups are happy with 20 to 25 in a full clinic day. Others want at least 50 in a day (yes, this is true).
CME?
PTO?