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Is This the Right Deal ?
 by Jordan R. Stewart, DPM Timonium Foot and Ankle Center Established July 2006 Timonium, MD Hopefully by now you have had success with your interviews and a contract has been offered. Unfortunately, courses in contract terminology and contract negotiation were not offered in my program and I was overwhelmed when I read my first contract. As a result, at the urging of family and friends, I hired a lawyer who specialized in medical contracts. Since the standards among professional fields can vary widely and, just like a podiatrist specializes in the foot and ankle, a lawyer specializing in medical contracts is just as important for you as you are to your patients. After reviewing one of my contracts, my lawyer informed me that the contract was one-sided and not in my best interests. I was disappointed because this was one of the jobs I thought was going to be "the one" for me. I had outlined the terms with the employer prior to receiving the contract and yet, upon receiving the contract, there were several differences. Although I attempted to negotiate this contract, I was unable to reach terms that were mutually beneficial for the employer and me. Like any successful agreement, what is fair is what is good for both parties. When reading through the contract, take out the list of questions you asked on your interview and be sure all of the terms you discussed are clearly defined in the contract. Before turning the contract over to the lawyer for review, read it carefully and be familiar with the terms. Lawyers work on an hourly rate and in order to keep your costs down you want to have specific areas of the contract to discuss with the lawyer. If an area is omitted or different, highlight it and review if with your lawyer. Your lawyer will edit the contract based on your desired terms, and what is considered reasonable based on his/her experience. Only after a thorough review should you take it back to the employer for negotiation. A mutually beneficial contract is more likely to lead to a successful long-term relationship. As you go back and forth with the employer, identify those terms of the contract that you like and those that you are unsatisfied with. Keep in mind that the terms are unlikely to change once the contract is signed. Keep your employer's perspective in mind, as you may need to bend on one term to reach another term. If you cannot reach an agreement with the employer and are not comfortable with certain terms, do not sign the contract. In addition to hiring a lawyer, I retained an accountant who has several medical office accounts. The accountant was very helpful when reviewing the contract and educated me on finances and practice management, and whether or not the deal seems fair. Unfortunately, the majority of associate relationships are unsuccessful in the long-term. You want to find an employer who is willing to make an investment in you to help grow the practice. One of the fundamentals of business is "you have to spend money to make money." If an employer is unwilling to invest in you up front then the chances of a long-term relationship are low. In my case, I chose to go at it alone, which was right for me. You will have to decide what is right for you.
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