Physician employment agreement accounting treatment?

Hello. It's great that you're being proactive and want to make sure you're getting a fair deal. Long-term commitments like these require careful consideration. Here’s a few things to consider. First off, consider the compensation. Take a close look at not just your base salary but also any bonuses, incentives, and benefits they're offering. Compare these numbers to what other physicians in your area are getting to see if it's a fair deal. Regarding benefits, factor those into your evaluation. Think about things like healthcare coverage, retirement plans, malpractice insurance, vacation time, and CME allowances. Consider how these perks align with your personal needs and preferences. Also, while money matters, consider the contract length, termination provisions, any restrictions (like non-compete clauses), your expected workload, and opportunities for professional development. It's essential to fully grasp these aspects to see how they align with your goals. Overall, the objective is to think about what matters most to you and whether the contractual terms align with your interests. In the end, your employment agreement should be a win-win for both you and the hospital. Keep in mind that this response is meant to provide general guidance only and is not a substitute for personalized legal advice. Every individual matter is unique. As such, consulting with an attorney to review your employment agreement and address your specific needs is highly recommended. I wish you the best of luck as you venture into this new employment opportunity.

I would need to see your Employment Agreement to be able to answer this. I suggest you enter a work order in ContractsCounsel, and you can request me or have multiple attorneys bid on it.

Physician employment agreements are not required by Law but that does not mean they are not required by the Employer. Employers have these agreements in place to set the terms of the employment regarding salary, length of employment and any other relevant terms that they want the employee to agree to. But, that also means you as the employee could negotiate provisions into the agreement that you want if the employer is willing to put them in. You legally don't have to sign one, but your future employer can still require a signed agreement. Before you sign anything you should make sure you understand the terms and provisions of the agreement.

In North Carolina, written employment agreements between medical groups and the physicians that they employ are standard. A reputable group will almost always present a proposed agreement to a prospective employee without being prompted. Sometimes, the proposed agreement is in the form of an "offer letter" that, once signed, will become the contract between the parties. Before signing any proposed agreement, a prospective employee should ensure that it accurately reflects what the parties have agreed to. It should include all of the agreed-upon terms and should be written clearly enough that an outside third party could interpret what the parties intended without seeking further explanation. Additionally, a prospective employee should pay close attention to contract clauses intended to have long-term effects, including but not limited to "restrictive covenants" such as non-disclosure, non-competition, or exclusivity provisions. Last, a prospective employee might consider having an attorney review a proposed employment agreement before signing. Good luck!

Generally, a physician employment agreement contains most of the same terms as any other employment agreement. However, some of the terms must be tailored to the role. Additionally, the agreement may contain terms that are specific to the physician role. Below are some key terms in physician employment agreements: License and Continuing Education - By law, to be a physician, an individual must obtain a professional license and then must earn continuing education credits to retain the license. Most physician employment agreements address these requirements, including such factors as whether the employer or the employee is responsible for the costs associated with compliance. Privacy and Confidentiality - Physicians have more privacy and confidentiality obligations than the typical employee. For example, a physician must comply with the Health Insurance Portability and Accountability Act ("HIPAA"). Physician employment agreements commonly address standards regarding patients' information, as well as the employers' proprietary information. Special Restrictions - Due to the nature of the physician role, employers might prohibit their physician employees from providing physician services elsewhere ("non-competition agreement"). Also, some might prohibit their physician employees from soliciting patients to receive physician services elsewhere ("non-solicitation agreement").   Special considerations - Further, as applicable, physician employment agreements will detail any special considerations for the role, such as stock options, relative value unit ("RVU") expectations, or volunteering, teaching, or scholarship requirements.