AskMariaTodd

Your employment contract and practice ownership agreements (i.e. shareholder agreements, practice purchase agreements, partnership agreements) play a critical role in determining the direction of your career. These issues are critical at any time in your career, but may be most important, post-residency or fellowship, when you are taking that first step. It is always important that you work with an attorney and a health administrator who can help you understand the practical, legal and business ramifications of your agreements and negotiate and design them to meet your financial and personal objectives.

Maria K Todd, MHA PhD, a health administration management expert, has reviewed and negotiated hundreds of physician practice and employment contracts throughout her 30+ year career in health care administration and has the expertise to help you to achieve your goals and avoid the pitfalls that many physicians face when negotiating a contract. She is the author of the Physician Employment Contract Handbook (1999, McGraw Hill and HFMA and MGMA, Chicago) and Physician Employment Contract Handbook, 2nd Edition (2010, Productivity Press, New York).

Maria will provide you with a detailed review of your contracts.

Your Employment Contract review will cover:
 
•    Thorough description of your contract provisions
•    Employment bargaining positions and fallbacks
•    Interview strategy coaching
•    Employee benefit analysis
•    Restrictive covenant/Non-competition issues
•    Salary negotiation

Ownership documents require analysis of additional issues:
 
•    Purchase price
•    Payment options to minimize tax consequences
•    Fair market value
•    Governance issues
•    Financial statements analysis
•    Estate planning consequences

Maria's regular fee for this analysis is $375/hr. For a thorough review and representation in the negotiation process, you should expect to devote an average of 5-15 hours, with the greater time usually associated with ownership issues. However, residents and fellows benefit from a flat fee arrangement that requires just $750.00 for analysis and negotiation of the employment contract and an additional $500.00 for the same service relating to the Ownership Documents.

To learn more about our Physician Employment Contract Review service, contact Maria Todd at 800.209.7263 or email her.