If you’re considering taking a permanent position with a hospital, medical practice, or other healthcare organization, you will need to complete an employee agreement. Before making a long-term professional commitment, you should have a basic understanding of the terms. Read on to learn about three basic components—and important areas—to consider when entering into an employment agreement.
Compensation. Do a little research to understand what a reasonable salary is for the area. Remember that cost of living often varies state to state, so take the position’s location into consideration. Then, communicate with some of your colleagues to compare compensation. Employers often offer a base salary and incentive compensation. Try to secure your base salary without adjustment for as long as possible. Then, gather specifics on the criteria the employer uses to calculate incentive payments.
Covenants. The most common covenant in physician employee agreements is the non-compete agreement. Consider the non-compete agreement’s length of time and geographic area to ensure it’s reasonable. If a clause is unenforceable, you won’t want to litigate it.
Schedule. Be certain that call and coverage obligations are not too taxing, and make sure the employer is specific. Ask any questions that you may have upfront so you know exactly what type of schedule to expect. Do research and talk with colleagues to compare similar positions and their scheduling requirements.
Since employee agreements for permanent positions have heavy professional implications, they should be reviewed by an attorney.