how to much to have a lawyer look over a contract physician

Full Answer

How much does it cost to have an attorney review a contract?

Fwiw the better lawyers don't work through "consulting houses", they work for law firms. I had my contract reviewed by an attorney who charged 250 an hour. One hour to review the contract and one hour to review it with the physician.

Do you need a lawyer for physician contract review?

This advice may have come directly from a lawyer or from a physician friend or colleague. Physician contract review is a lot like insurance, financial advising, and mortgages in that attempts are made to convince us that we are somehow special.

How do I find a lawyer for a physician employment contract?

Finding attorneys that specialize in physician employment contracts isn't difficult. Contacting the state medical association in the state where you will be working is one of the best ways to find lawyers who are qualified to review and negotiate your physician employment contract.

Is a medical malpractice attorney worth the money?

Per the attorney would likely cost 5k-6k in time to rewrite it in a manner that would be somewhat agreeable to the physician. So yes, well worth the money, not just for salary, but for physician protection regarding terms of employment and malpractice protection. I dont buy this for a second.

How do you negotiate a contract doctor?

These experts offer you the following 4 tips for negotiating a satisfying and surprise-free physician employment contract.Begin negotiations with your offer letter. ... Read and appreciate what you're signing. ... Know the most important provisions to address. ... Recognize the contract's purpose.

What should I ask for in a physician contract?

Ask about sign-on bonuses, relocation, continued education, income guarantees, profit sharing, incentive structures, buy-in structures, partnership potential, and long-term potential for the position. What type of malpractice does the group or facility have?

How do I review an employment contract?

Key Considerations for Reviewing Your Employment ContractJob Description. While an employment contract should include the employee's title, work hours and work location, it should also include a description of the employee's duties. ... Statutory Minimums. ... Compensation and Benefits. ... Term. ... Termination. ... Bargaining Power.

Do doctors have contracts?

A physician contract covers a large variety of areas, many of which reflect compensation. But there are other concepts that a contract does need to cover. Needless to say, the medical contract needs to specify what the employer wishes, but it also needs to reflect your rights and your interests.

How long are most physician contracts?

The term of an average physician employment contract is for one or two years. A contract's term can also automatically renew if both the employee and the employer agree.

Can you negotiate resident contract?

As resident doctors, the salary is etched in stone, and there is nothing to negotiate. Don't expect your residency faculty will happily divulge their compensation package.

Should I get a lawyer to review employment contract?

It's a great idea to have an attorney review your employment contract before you sign it. A lawyer can help you better understand what you are agreeing to. In some cases, they may also be able to advise you on how to request changes or help negotiate with an employer on your behalf.

Should you have a lawyer review a job offer?

A polite thank you email that signals your excitement, but also advises that you're going to take some time to review the offer before signing, is a good first move. An employment lawyer would make sure your legal rights are protected. This goes beyond getting you enough vacation time or sick pay.

Should I have a lawyer review my offer letter?

The offer letter is not necessarily binding, but if you do accept an offer, you are an employee-at-will, and your employment can change at any time.” It's always wise to review a job offer or contract or offer letter in detail and with a lawyer.

What is a contracted physician?

A contracted physician is one who sets his fees in accordance with the terms of the agreement. In this case, you only make what is known as the co-payment, i.e. the difference between the amount refunded by the health insurance fund and the fees set under the agreement.

How do physicians negotiate signing bonuses?

Research what bonuses your peers in similar positions receive. Leverage your experience and value to get the best deal. Be willing to negotiate. Consider your overall compensation package (especially if the offer includes a better salary over time than competing offers with higher signing bonuses).

Why are provider contracts important?

Why You Need to Understand Your Provider Contract Fully. To receive reimbursement for medical services, providers depend on provider contracts in healthcare. The contract details all of the information that needs to be collected by physicians from their patients before sending a claim for reimbursement to the payor.

What is a Physician Contract Lawyer?

A physician contract lawyer is legal counsel that helps physicians manage certain legal agreements that come up in their medical practice. Some of these contracts might include agreements such as an employment contract or partnership agreement .

What Does a Physician Contract Lawyer Do?

Physicians are extremely intelligent people who are well-versed in making important decisions when it comes to both their lives and the lives of others. When a new physician finishes school, they are sent to a residency program where they must sign an employment contract with the establishment they want to work with.

Types of Contract Physicians Need Help With

Physicians are well-educated, intelligent people who perform a vital role in their communities. Since the law is typically outside of their expertise, physician contract lawyers can help them to make sure the legal agreements they enter into are beneficial to their lives and careers.

How Much Does a Physician Contract Review Cost?

Being a physician requires much schooling and practice before one is getting paid to do the job. Consequently, the average rate of pay of physicians is around $300,000 a year.

Find a Physician Contract Lawyer

If you’re looking for a physician contract lawyer, we know it can be difficult to find the right fit. The attorney you work with must know how to advocate for you to get the best results.

Meet some of our Lawyers

Brandon is a Texas Super Lawyer®, meaning he is among the top 2.5% of attorneys in his state. He has designed his practice to provide a unique ecosystem of legal support services to business and entrepreneurs, derived from his background as a federal district law clerk, published biochemist, and industry lecturer.

Do lawyers' interests align with their own?

A lawyer’s interests don’t completely align with your own. Any lawyer you hire to review your employment contract will review it with your best interests in mind, to the extent possible. But, by virtue of the lawyer being a third-party, his interests come into play, as well. You’re paying the lawyer (probably a hefty sum).

Is a lawyer unfamiliar with your employer?

Additionally, the lawyer you hire is probably unfamiliar with your potential employer, unless it’s a large, well-known company. Even as a prospective employee, you have at least some sense of the company’s culture and priorities for your application and interview process.

Is an employment contract like a soap note?

There may be a section or two (or three or four) that don’t make immediate sense, but you can probably wrap your head around them after another read-through. In a way, an employment contract is like a SOAP note. SOAP notes are bread and butter to us as doctors.

How much does it cost to hire a lawyer to review a contract?

Here are some factors it can depend upon: Depending on these, and many more factors, hiring a lawyer to review a contract can be quite steep, ranging from $300 and $1,000. In case you want them to actually draft and negotiate the contract for you, it could get even more expensive, falling somewhere between $500 and $3,000.

Why do you need a contract review lawyer?

Understanding exactly what you need a contract review lawyer to do when they review your contract will help you make the decision whether or not you want to make the investment in hiring an attorney.

What is issue specific contract review?

An issue-specific contract review is the most economical option if spending money is the most important factor for you. If you are mostly happy with the contract, but not quite clear on some of the specific terms or issues, or need a specific clause of the contract explained, the lawyer will just look over those specific areas of concern. A lawyer can help decipher the legalese and explain those terms in common English so you can figure out if they work for you. You don’t want to sign things you don’t understand, so if you're on a tight budget, but still need the peace of mind, this is a good way to feel more confident before signing the agreement.

Do lawyers charge flat fees?

Each lawyer sets his or her own prices depending on their own level of expertise and the fees they charge can vary greatly from one attorney to the next. Most of the time, however, lawyers use either flat-fee pricing or hourly pricing when they get hired to review a business contract.

Can attorney fees hurt your pocket?

In short, if you can limit the extent of the contract review, the attorney fees will not hurt your pocket as much. But you need to understand that there is always a quid-pro-quo, and you will have to accept the fact that your attorney will not review any other aspects of the contract except the ones you circled.

Is contract review more expensive than basic level?

This type of contract review will definitely be more costly than the basic level, but you will get much deeper involvement from your attorney. Instead of having your lawyer just review your document, point out what needs to be fixed in your contract, and answer your questions, they will provide you with a version of your contract ...

Is there anything wrong with signing a contract?

There is nothing necessarily wrong with signing a contract you don’t understand. People have been signing contracts they haven’t read and have gone on to live very happy lives. But you have to be willing to accept the risks associated with not reading a contract.

What to look for in a physician contract?

What to look for in a contract. Here are the top five things to keep in mind when reviewing the physician contract. 1. If it’s not in the contract, it doesn’t exist. Dr. Shaw points out that promises made during negotiations aren’t enough.

Why are doctors surprised when they read a contract?

“This may be because they did not read the entire contract as thoroughly as they should have, or they relied on their interpretation of what the contract meant and signed.”

What does Holloman say about fixed compensation?

Holloman also cautions physicians to beware of evergreen contracts with fixed compensation. “This can create a situation where, theoretically, the physician will have the same compensation into perpetuity.” It’s important to have a clear perspective of the long-term compensation and have it defined in the contract.

What is a LOI in medical?

A common mistake physicians make is signing a letter of intent (LOI) when they receive an initial offer and then trying to negotiate salary or other conditions before signing the contract. Holloman cautions against this action. “An LOI is not legally binding, but it’s the equivalent to a handshake.

What happens if you can't resolve a contract?

If you are unable to resolve them, you can always exercise your right to terminate without cause. If the organization is breaching the contract or not living up to its conditions, you can still try to resolve the issue. In this case the physician is in a much stronger position, Holloman says.

What does it mean when a doctor says "this is your last day and your last paycheck will arrive in two weeks

This means the physician won’t get the 90 days they thought they were going to get.”. An extended separation period means you may have to stay at a hospital much longer than you want to.

Can a hospital change its PTO policy?

“For example, if they offer PTO and it’s determined by policy, they can’t change the policy,” Appino says. “They can’t make an exception for one particular physician.

Why do you need an attorney for a contract review?

Being financially prepared to hire an attorney to assist in your contract review will reduce financial stress and ensure that you're in the best position to set yourself up for success in your career.

Why do physicians choose to negotiate with their employers?

Some physicians choose this type of arrangement because they feel comfortable negotiating with the employer directly or want to keep legal costs down. Many physicians though prefer to have an attorney review and negotiate the contract.

Can I ask a lawyer to review my employment contract?

For instance, you can ask a lawyer to review the employment contract in order to identify any traps and suggest a few major points that you may want to address, while you negotiate the offer directly with the prospective employer.

Who is the attorney on Making the Rounds?

In the first episode of season 1 of the new Making the Rounds podcast, AMA senior attorney Wes Cleveland provides tips on what to consider before you begin the contracting process.

Should I hire a physician focused lawyer?

It's highly recommended that you hire a physician-focused lawyer to assist you with contract review and negotiation.

Can a lawyer review a LOI?

Consequently, a general business lawyer, such as an attorney who handles real estate transactions for your family, may not be the right lawyer to review your contract or LOI. Just as there are physicians who specialize in different aspects of the practice of medicine, there are lawyers who specialize in reviewing physician employment agreements.