You’ve made it! The time has finally come and you’ve finished your residency or you’re preparing to accept a new position, and your prospective employer slides a thick packet of papers across his desk in your direction. The physician employment contract can be an ominous looking stack of paperwork filled with legal language. It may be tempting to leap across the table and sign on the dotted line, but the physician employment agreement warrants a closer look. Filled conditions of your employment, the contract details your compensation, scope of practice and schedule terms.

The employer will present the decided compensation in the physician employment agreement. This is often an annual salary, a variable amount based on workload or a combination of both forms of compensation. This section of the contract should also include the terms regarding bonuses, annual increases (if for a long term contract), signing bonuses and relocation compensation. When accepting compensation in advance, be sure to note the repayment terms. Additionally, the compensation section of the physician employment contract should include the terms of benefits such as health insurance, life insurance, stock options and retirement savings. The physician employment agreement should include the scope of practice and restrictive covenants. While it will always vary by employer or position, the scope of practice portion of the physician job contract will set the stage for what your day-to-day job responsibilities will be. It will also remind you of any practices that are not permitted within your scope. Also, restrictive covenants will detail the ‘rules of the job’ and terms for termination. You may sign a non-compete agreement as part of the restrictive covenants, or agree not to take patients away from other physicians within the practice. Ultimately, the scope of practice and restrictive covenants section of the physician job contract will set the guidelines for navigating your new job safely.

Scheduling is often one of the highest concerns among physicians. Classically, physicians have devoted all of their time to making themselves available when their patients need them. These days, physicians are grouping together to share the workload, and save precious free time. When detailing the terms of your schedule, be sure to note the required office hours, hospital hours, and your position in the on-call rotation. Often, any required Continuing Medical Education (CME) will also be included in this section of the physician job contract. In order to stay current, physicians will take classes or attend seminars, which are counted as CME.

Whether you’ve reviewed an employment agreement in the past, or are preparing to sign one for the first time, remember the importance of due diligence. This contract will legally tie you and your employer into a commitment to each other. If you are unsure of the terms, be sure to ask questions or consider locating the services of a lawyer or paralegal to interpret the legal speech. When careful attention is given to deciphering the physician employment contract, it can work hard for you when you need it.

To get great information on finding that perfect job after residency, please visit Physician Employment Contract.