Our neonatal medicine contract attorneys can review your contract, identify the areas that could improve, and assist you in negotiating the best neonatal medicine contract possible.
Each physician that requests our assistance receives the following:
- Available in any state
- Flat-rate pricing with no hidden costs
- Review of your proposed employment agreement
- Phone consultation with our lawyer, reviewing the contract term by term
- Follow up with a review of the needed clarifications of the neonatal medicine contract
Medical Contract Review Lawyer
A thorough contract review can benefit new residents, attending physicians, doctors entering their first employment contract, or established physicians looking for new employment. By employing an experienced attorney for your representation, you can ensure that you will be able to fully understand the extensive and complex wording included in your contract.
By having a complete understanding of contracts, you will be in a better position to decide whether or not you want to enter into the medical contract that will affect your career life for years to come.
Contract reviews will provide general information and specific details about your specialty and location.
Important Terms in a Physician Contract Review
The present-day conclusion is simple: physicians should only enter into agreements by having the contract reviewed by legal counsel. There is too much at risk for a physician to take medical contract matters into their own hands. In addition to the specific professional implications, terms of medical contracts can significantly impact a physician’s family, lifestyle, and future.
There are many important terms and clauses in medical contracts which can present complex and diverse issues for physicians, including:
- Non-compete clauses
- Inadequate professional liability insurance and tail coverage
- Unfavorable call schedules
- Practice support
- Production Bonuses (RVU, net income, or hybrid structures)
- Not enough paid time off (PTO) or Vacation time
- Biased Termination Provisions (With or Without Cause)
- Continuing Medical Education (CME)
- Dues and Fees (AMA, Health Care Board)
Review of Non-Compete Clause by a Neonatal Medicine Contract Attorney
Most courts find that a non-compete is enforceable if it is reasonable.
The general test for reasonableness by a court or arbitrator would be:
- The restraint is not more than required to protect the employer,
- It does not inflict any untold hardships on the employer, and
- The restraint is not detrimental to the public.
Neonatal Medicine Career Tips
As a neonatal medicine specialist, your work is crucial for the health and survival of newborns. Here are a few tips to help you maximize your earning potential throughout your professional career:
- Subspecialization: Pursuing a subspecialization can be a beneficial way to increase your earning potential. There are numerous neonatal subspecialties, such as neonatal cardiology, neonatal neurology, or neonatal surgery, that you might consider. The American Board of Pediatrics provides information and guidelines on various subspecialties.
- Continued Education and Training: Staying abreast of the latest advances, technologies, and research in neonatology can increase your value to your hospital or practice. The Neonatal-Perinatal Medicine Continuing Medical Education (CME) courses offer evidence-based learning opportunities.
- Research and Publication: Involvement in research and getting your findings published can enhance your professional reputation, lead to additional income, and potentially provide opportunities for advancements in your field. The National Institutes of Health is a useful resource for research opportunities and guidelines.
- Leadership Roles: Taking on leadership roles within your hospital or professional organizations can raise your professional profile and potentially increase your earnings.
- Efficient Practice Management: Effective management of your practice, including streamlined scheduling, precise billing, and cost management, can significantly impact your earnings. You may want to consider investing in practice management software to help with these tasks.
- Telemedicine: As the medical field continues to adapt to the digital age, offering telehealth services can expand your practice’s reach, allowing you to serve more patients and increase your income. Resources such as the American Telemedicine Association provide guidance on implementing these services.
- Networking and Professional Development: Participation in professional organizations, conferences, and networking events can lead to collaborations, referrals, and other opportunities that enhance your earnings. The American Academy of Pediatrics is a valuable resource for these opportunities.
- Locum Tenens Work: If your schedule allows, consider taking on locum tenens assignments. This temporary work often pays well and can provide a change of pace and new experiences.
- Work-Life Balance: It’s essential to maintain a balance between your work and personal life. Overworking can lead to burnout, which can affect your productivity and job satisfaction negatively. Taking time for self-care will enable you to have a long and rewarding career in neonatal medicine.
By applying these strategies, you can enhance your earning potential while providing critical care for your smallest patients.
Employee or physician contracts are all unique. However, nearly all healthcare contracts for healthcare providers should contain several essential terms. If these contracts do not spell out the critical terms, disputes can arise when there is a disagreement between parties regarding the details of the specific term. For instance, if the doctor is expecting to work Monday through Thursday and the employer thinks it’s Monday through Friday. Still, the particular workdays are absent from the contract—who prevails?
Neonatal Medicine Employment Agreement Checklist
Spelling out the details of a physician’s job is crucial to avoid healthcare contract conflicts during the employment contract term.
Below is a checklist of important terms that contracts should contain (and a brief explanation of each term generally discussed in negotiations):
- Practice Services Offered: What is the clinical patient care duties? Is there time for a review of administrative tasks? How many patients is the physician expected to see?
- Patient Care Schedule: What days and hours are employees expected to provide patient care per week? What is the surgery schedule? Are employees involved in the planning of their schedules?
- Locations: Which facilities will the employer schedule the employees to provide care at (outpatient clinic, surgical sites, in-patient services, etc.)?
- Outside Activities: Are employees permitted to pursue moonlighting or locum tenens opportunities? Does a physician need permission from the employer before accepting medicine-related positions?
- Disability Insurance: Is disability insurance provided (short-term and long-term)?
- Professional License: Will the practice offer reimbursement for licensing? Will an advisor be provided?
- Practice Call Schedule: How often is the employed physician on call (after-hours office call, ASC, hospital call (if applicable))?
- Electronic Medical Records (EMR): Will the employer provide training resources or time to review the system before delivering care?
- Base Compensation: What is the annual base salary? What is the pay period frequency? Does the base compensation increase over the term of the agreement? Is there a yearly review or quarterly review of compensation? Is there a group management relationship?
- Productivity Compensation: If there is productivity compensation, how is it calculated (wRVU, net collections, patient encounters, etc.)? Is there an annual review?
- Practice Benefits Summary: Are standard benefits offered: health, vision, dental, life, retirement, etc.? Who is the advisor of human resource benefits?
- Paid Time Off: How much time off does the job offer? What is the split between vacation, sick days, CME attendance, and holidays? Is there an HR guide?
- Continuing Medical Education (CME): What is the annual allowance for CME expenses, and how much time off do they offer?
- Dues and Fees: Which business financial expenses are covered (board licensing, DEA registration, privileging, ASA membership, Board review)?
- Relocation Assistance: Is relocation assistance offered? What are the repayment obligations if the contract is terminated before the expiration of the initial term?
- Signing Bonus: Is an employee signing bonus offered? When is it paid? Does the employee have to pay it back if they leave before they complete the initial term? Are student loans paid back? Is there a forgiveness period for student loans?
- Professional Liability Insurance: What type of liability insurance (malpractice) the employer offers: claims made, occurrence, self-insurance? License and litigation defense? Can you negotiate tail?
- Tail Insurance: If tail insurance is necessary, who pays for it when the agreement terminates?
- Term: What is the length of the initial term? Does the agreement automatically renew after the initial term?
- For Cause Termination: What are the grounds for immediate termination for cause? Is a review provided to dispute the termination?
- Without Cause Termination: How much notice is required for either party to terminate the agreement without cause?
- Practice Post-Termination Payment Obligations: Will the physician receive production bonuses after the agreement terminates?
- Non-Compete: How long does the non-compete last, and what is the prohibited geographic scope?
- Financial Retirement: Is a financial retirement plan offered?
- Non-Solicitation: How long does it last, and does it cover employees, clients, patients, and business associates?
- Notice: How is the notice given? Via hand delivery, email, US mail, etc.? Does it have to be provided to the employer’s attorney?
- Practice Assignment: Can the employer assign the agreement? Will the healthcare agreement require ongoing compliance with a new employer?
- Alternative Dispute Resolution: If there is a conflict regarding the contract, will mediation or arbitration be utilized? What is the standard attorney review process for disputes? Who decides which attorney oversees the process?
Contracts Review Attorney for a Neonatal Medicine
Coming into a new organization with a favorable contract can put the physician in a positive financial situation for years to come. Before signing the most important contract of your life, contact an experienced Neonatal Medicine contract attorney and contact Chelle Law today.