Crucial Contract Considerations for Physicians: Insights from a Leading Lawyer Michael Johnson esq. (IMG Roadmap series #111)
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Introduction:
As a physician, it's important to understand the legal aspects of your employment contracts to ensure that you're making the best decisions for your career. In this podcast episode, we speak with Michael Johnson, an experienced lawyer who specializes in physician contracts. He shares valuable insights into the legal issues that physicians should be aware of before signing their contracts.
Discussion:
Johnson highlights three crucial things that physicians should know before signing a contract. First, residency contracts are typically non-negotiable, but it's important to find out if your contract allows for moonlighting. Second, for your first attending contract, it's essential to start familiarizing yourself with the kind of contract you're looking for and making the necessary calls from the spring of the previous year. Third, if you're on a visa, it's important to understand the timeline and how to terminate your contract to avoid complicated litigation.
When it comes to compensation, Johnson advises physicians to carefully review their contracts to prevent employers from exploiting loopholes. A good contract should be easy to understand, and a lawyer can guide physicians to ask more questions and negotiate for a phantom hourly rate for a fixed set of responsibilities. Johnson also advises physicians to reach out to colleagues and ask questions before signing a contract.
Johnson often consults with J1 visa holders who are leaving their first contract. He advises physicians to carefully review their termination and non-compete clauses and to be aware of any auto-renewal parts in their contracts. He also reminds physicians to reach out to him or other physician contract specialists for help if needed.
Conclusion:
Understanding physician contracts is crucial for every physician, and working with a lawyer who specializes in physician contracts can provide valuable insights and guidance. Physicians should carefully review their contracts, ask questions, and seek legal help if needed to protect themselves and their careers.
You can reach out to Michael Johnson esq. via:
His Instagram @physicancontracts
His website physiciancontracts.com.
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