Physician Contract Review Checklist

Tip: Get this in writing, not just verbal confirmation.

Tip: Common for new practices; typically 1-2 years.

Tip: Understand how bonuses are calculated and paid.

Red Flag: Vague bonus language like "may be eligible" without specifics.

Tip: Ask for historical data on physicians meeting these targets.

Tip: Per diem? Per hour? Included in base? Get specifics.

Tip: Bi-weekly or monthly? Direct deposit?

Red Flag: No mention of salary increases over multi-year contracts.

Tip: Check premium costs, deductibles, and coverage start date.

Tip: Often overlooked but adds significant value.

Tip: A 5% match on $300K salary = $15K/year.

Tip: Standard is 1-2x annual salary.

Red Flag: No own-occupation disability coverage for physicians.

Tip: Claims-made vs occurrence matters significantly.

Red Flag: You being responsible for tail coverage (can cost $50K+).

Tip: Average is $3,000-$5,000 annually.

Tip: Should be 5-7 days minimum.

Tip: Physician average is 25-30 days.

Red Flag: "Use it or lose it" with no rollover.

Tip: Ideally unlimited sick leave for physicians.

Tip: How many holidays? Rotating coverage?

Tip: Paid vs unpaid? Duration?

Red Flag: No defined hours with "as needed" language.

Tip: How often? Weekends? Holidays?

Tip: Some contracts prohibit outside work entirely.

Tip: Most are 2-3 years initially.

Tip: Does it auto-renew? For how long?

Tip: 90 days is standard; 180 days is long.

Red Flag: Employer can terminate without cause but you cannot.

Tip: What specifically constitutes "cause"?

Tip: You should have time to fix alleged issues.

Tip: What happens to pay/benefits if terminated?

Tip: What do you keep vs return?

Red Flag: Non-competes exceeding 1 year or 25 miles.

Tip: Push for smallest radius possible.

Tip: 1 year is standard; 2+ years is aggressive.

Tip: Academic positions often exempt.

Red Flag: Broad language preventing any patient contact.

Tip: Usually reasonable to accept.

Tip: Having a buyout gives you flexibility.

Tip: California bans most non-competes; check your state.

Tip: Should cover state license, DEA, board fees.

Tip: Who handles it? What if delayed?

Tip: Which hospitals? What if denied?

Tip: Is maintaining certification required?

Tip: Understand the internal review process.

Tip: Specific EMR? Charting timeline expectations?

Tip: AMA, specialty societies, local medical society.

Tip: Average is $20K-$50K for physicians.

Red Flag: Full repayment required if leaving within 2+ years.

Tip: Should cover actual moving costs.

Tip: Pro-rated repayment is more fair.

Tip: Get specific amounts and conditions in writing.

Tip: Helpful while finding permanent housing.

Tip: Allow time for credentialing, moving, etc.

Tip: Which state's laws apply?

Tip: Mediation, arbitration, or litigation?

Red Flag: One-sided indemnification favoring employer.

Tip: Can your contract be sold to another employer?

Tip: Ensures no verbal promises override written terms.

Tip: How can the contract be modified?

Tip: Best $500-$1,500 you'll ever spend.