Physicians interested in hospital employment need to consider employment contracts carefully — they have the power to change the course of their career, according to the American Medical Association.
"I know employment contracts are boring," Elizabeth Snelson, president of Legal Counsel for the Medical Staff, told the AMA. "But if you don’t get yours the way you want it, it could clash dramatically with what you thought you'd be doing with your life."
Hospital employment contracts can determine a physician's day-to-day responsibilities, noncompete restrictions, hours and more, according to an Oct. 5 post on the organization's website.
Here are six things physicians should consider before signing an employment contract, according to the AMA's "Making Rounds" podcast, which provides guidance on the contracting process:
1. Understand your obligations. Contracts should include a detailed job description, including the type of medicine being practiced, number of hours expected per week, availability, on-call hours and other duties.
2. Be specific about compensation. Physicians should understand how compensation is structured, including whether they are paid at a fixed rate or paid depending on performance and the median salary range for the role.
3. Take advantage of benefits. Learn what benefits are included in the contract and understand how to access them.
4. Get all terms of employment in writing. This can reduce the potential for misunderstandings and mistakes.
5. Consult an expert. Consider hiring a lawyer to review a contract, which may help avoid consequences agreeing to a long term contract without fully understanding the terms.
6. Consider joining a physician union. Employed nonsupervisory physicians have the protections of the National Labor Relations Act and are exempt from antitrust laws when they engage in concerted action regarding conditions of employment.