SIGNING A NEW CONTRACT CAN BE SUCH AN EXCITING TIME. After the wining and dining of a job hunt is over, it can be a relief to get that contract in hand. But what most physicians don’t realize is that getting the first draft of the contract is the beginning of another process: review and negotiations.

Physician contracts are complex legal documents that govern the professional relationship between doctors and their employers or partners. These agreements often involve intricate clauses related to compensation, benefits, work hours, non-compete agreements, malpractice insurance and termination clauses, among others. Given the importance of these contracts and the potential long-term implications they can have on a physician’s career, many doctors see the benefits of a physician contract attorney.

The question then arises: Is a review by a lawyer worth the price?

LEGAL EXPERTISE

Though we are well-versed in reading complex texts as physicians, lawyers specializing in health care and contract law possess the expertise to thoroughly analyze the terms and conditions of physician contracts. They can identify ambiguous language, potential pitfalls and clauses that may not be in your best interest.

Protection of rights

Contract review by a lawyer helps ensure that physicians understand their rights and obligations. Doctors have often been presented contracts with extensive non-compete clauses that essentially require them to move their families to a different town if they ever leave their employer. This can create undue pressure to stay in a bad work environment for the sake of maintaining a family’s stability. Even if they can’t change the terms, a lawyer can help you understand what the contract statesand what the expectations would be — and advise you through the actively changing non-compete landscape.

Risk mitigation

A lawyer’s review can help physicians mitigate legal risks associated with their employment agreements. They can advise on non-compete clauses, malpractice insurance coverage terms and compliance with relevant laws and regulations, reducing the likelihood of future disputes or legal challenges.

Financial considerations

Physician contracts often involve significant financial implications, including salary, bonuses and benefits. A lawyer can assess the fairness of compensation and may be able to advocate for better terms to maximize your financial interests.

Cost

Hiring a lawyer for contract review incurs a financial expense. There are several companies out there that specialize in contract review; prices range from a few hundred up to a few thousand dollars. Shop around and understand what expertise you’re getting for your money. You may have a lawyer review, but you may choose to do your own negotiations. Either way, the upfront investment in legal review may well prove to be cost-effective in the long run.

The complexity of physician contracts varies depending on factors such as the type of practice, employment setting and specific terms. More complex contracts may require more extensive legal review to ensure comprehensive understanding and protection.

Level of trust

Some physicians may feel comfortable signing contracts without legal review. However, trust alone may not be sufficient protection against unforeseen circumstances or changes in the working relationships or leadership. If it’s not in the contract, verbal promises will not hold if leadership changes. Therefore, it’s important to have a legal representative involved so that all promises and expectations are clearly defined in the contract.

A third party

You may choose to have an attorney involved in your negotiations. Even if you do your own and use an attorney for review only, it can help to have a third party involved in advocating for you, either in front or behind the scenes.

Though the decision to engage a lawyer for contract review ultimately depends on individual circumstances and preferences, the potential benefits generally outweigh the costs.

Physician contracts are legally binding documents with far-reaching implications; ensuring clarity, fairness and legal compliance is crucial. By investing in professional legal review, physicians can protect their rights, mitigate risks and optimize their financial and professional interests. Therefore, for most physicians, the peace of mind and protection provided by lawyer- led contract review justify the price. •