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Will You Add? - You've Been Hired! 5 Reasons Young Doctors Lose Money on Their First Employment Contract
You might have a strong case in arguing that no one is indispensable in their job, and i would agree to some extent, especially in today's uncertain jobmarket. So how can you indeed become indispensable in your job? Well, it is really about having a certain mindset that if utilised will enable you to distinguish yourself from the crowd, providing you with confidence and security in your long term career.I have said in previous articles that in orde
4. The group wants to give you as little as possible.
You have little to compare your contract to. All you know is that when you leave residency you'll be making a tremendous jump in salary as an attending physician. That's good, but that's only part of the equation. You need to know much more.
How do you learn more? By reading books wr
You know it seems to me having done much business with Arab Gentlemen that if you do not BS a little they really do not respect you much, and the problem is that under US law you have to be truthful. They like to catch you in a tall tale, it makes them feel smart and then they BS back and everyone laughs and they say; “You know I like you.”It really is a cultural thing, it is not really lying it is more like creating falsehood after falsehood until
Do not entrust your physician employment contract to your local general practitioner. While there are some similarities to general contracts and physician contracts, you should have an attorney who has extensive experience reviewing physician contracts. There are more differences than similarities and an experienced lawyer will be able to spot them and correct them before they cause harm.
You wouldn't want a family practitioner performing coronary artery bypass surgery on you unless that physician has had years of training and fellowship in that field of medicine. The same holds true for lawyers.
2. A young doctor is money-conscious and is afraid to spend money to hire a lawyer.
The common thinking is that if they can save a few dollars by not having to pay a lawyer, then they're ahead of the game. Wrong. That's what you call 'penny-wise and pound foolish'. By spending money for a good lawyer now you will be protecting yourself for years to come knowing that you have fought for everything you can possibly get in your contract.
Remember, your contract will guide you for many years. If you make mistakes at the begining by not knowing and not being an informed consumer, you will regret it for years to come. Believe me, I've seen physicians kick themselves for not having their contracts reviewed by an experienced lawyer before signing it.
3. The young doctor is afraid to make waves with his new group or hospital.
You've just been hired. "You got the job!" But, once you see the contract you realize that all is not rosy. However, with good counsel, you can learn to negotiate, and you can have your lawyer be the bad guy and negotiate for you.
It never hurts to say, "My lawyer felt this was inappropriate...", "My lawyer advised me to have this re-worded...", "My lawyer felt this was unfair and needs to be removed." Let your lawyer be the bad guy. Do you think the groups' lawyer is looking out for your interests? Never.
4. The group wants to give you as little as possible.
You have little to compare your contract to. All you know is that when you leave residency you'll be making a tremendous jump in salary as an attending physician. That's good, but that's only part of the equation. You need to know much more.
How do you learn more? By reading books wri
I could begin this article by providing a checklist of organizing techniques for you to incorporate into your daily work routine. The goal would be to become and remain organized, improve your time management and reduce your stress while increasing your productivity. This checklist could include items such as managing incoming information, keeping the desktop free of clutter, creating a user-friendly filing system, etc. And I suspect there are many other
You wouldn't want a family practitioner performing coronary artery bypass surgery on you unless that physician has had years of training and fellowship in that field of medicine. The same holds true for lawyers.
2. A young doctor is money-conscious and is afraid to spend money to hire a lawyer.
The common thinking is that if they can save a few dollars by not having to pay a lawyer, then they're ahead of the game. Wrong. That's what you call 'penny-wise and pound foolish'. By spending money for a good lawyer now you will be protecting yourself for years to come knowing that you have fought for everything you can possibly get in your contract.
Remember, your contract will guide you for many years. If you make mistakes at the begining by not knowing and not being an informed consumer, you will regret it for years to come. Believe me, I've seen physicians kick themselves for not having their contracts reviewed by an experienced lawyer before signing it.
3. The young doctor is afraid to make waves with his new group or hospital.
You've just been hired. "You got the job!" But, once you see the contract you realize that all is not rosy. However, with good counsel, you can learn to negotiate, and you can have your lawyer be the bad guy and negotiate for you.
It never hurts to say, "My lawyer felt this was inappropriate...", "My lawyer advised me to have this re-worded...", "My lawyer felt this was unfair and needs to be removed." Let your lawyer be the bad guy. Do you think the groups' lawyer is looking out for your interests? Never.
4. The group wants to give you as little as possible.
You have little to compare your contract to. All you know is that when you leave residency you'll be making a tremendous jump in salary as an attending physician. That's good, but that's only part of the equation. You need to know much more.
How do you learn more? By reading books wr
Can you earn more money working on a contract than working in a fulltime job?Having spent several years specifically working as an IT recruiter filling Information Technology positions, I certainly saw my fair share of highly paid contractors.In most instances, contractors earned more money on an hourly basis than they would have earned had they been doing the same job in a fulltime capacity being paid a salary.The reaso
Remember, your contract will guide you for many years. If you make mistakes at the begining by not knowing and not being an informed consumer, you will regret it for years to come. Believe me, I've seen physicians kick themselves for not having their contracts reviewed by an experienced lawyer before signing it.
3. The young doctor is afraid to make waves with his new group or hospital.
You've just been hired. "You got the job!" But, once you see the contract you realize that all is not rosy. However, with good counsel, you can learn to negotiate, and you can have your lawyer be the bad guy and negotiate for you.
It never hurts to say, "My lawyer felt this was inappropriate...", "My lawyer advised me to have this re-worded...", "My lawyer felt this was unfair and needs to be removed." Let your lawyer be the bad guy. Do you think the groups' lawyer is looking out for your interests? Never.
4. The group wants to give you as little as possible.
You have little to compare your contract to. All you know is that when you leave residency you'll be making a tremendous jump in salary as an attending physician. That's good, but that's only part of the equation. You need to know much more.
How do you learn more? By reading books wr
It’s all in who you know... Or can get to Know!Yesterday I had a customer service issue that warranted my immediate attention. I had ordered a product that I desperately needed that was now about 6 weeks overdue the original back ordered date. I had made numerous calls to both the local and the national vendor over the past few weeks and had received different answers every single time. I had gotten the run around from corporate, from the local ven
3. The young doctor is afraid to make waves with his new group or hospital.
You've just been hired. "You got the job!" But, once you see the contract you realize that all is not rosy. However, with good counsel, you can learn to negotiate, and you can have your lawyer be the bad guy and negotiate for you.
It never hurts to say, "My lawyer felt this was inappropriate...", "My lawyer advised me to have this re-worded...", "My lawyer felt this was unfair and needs to be removed." Let your lawyer be the bad guy. Do you think the groups' lawyer is looking out for your interests? Never.
4. The group wants to give you as little as possible.
You have little to compare your contract to. All you know is that when you leave residency you'll be making a tremendous jump in salary as an attending physician. That's good, but that's only part of the equation. You need to know much more.
How do you learn more? By reading books wr
Half my immediate family trained in Judo and excelled in competition. I was always fascinated by the way in which my younger brother and sister (who were small for their age) were able to throw much bigger opponents with seemingly little effort.I remember vividly watching a training session where my sister easily threw another student flat on his back. What staggered me though was the size of the student.He was huge.But she didn't str
4. The group wants to give you as little as possible.
You have little to compare your contract to. All you know is that when you leave residency you'll be making a tremendous jump in salary as an attending physician. That's good, but that's only part of the equation. You need to know much more.
How do you learn more? By reading books written by attorneys who have experience in this area. Learn all you can about your contract and physician employment contracts. Have your attorney give you a crash course on contracts and negotiation. I guarantee you it'll be the best money you ever spend. An experienced lawyer should know what the going rate is for your specialty in your geographic area. He (or she) should know whether the other benefits you're getting are consistent with other competing groups. You must ask lots of questions.
5. The young doctor fails to do research about the group or hospital he is joining.
This is vital. You must investigate your group. Ask your colleagues about their reputation, their ethics, their surgical or non-surgical abilities. Speak to members who have left the group if possible. The more information you have about the group, the better informed you'll be, and you'll be able to make judgment calls knowing full well what your options are.
CONCLUSION
Be informed, do your research, read your contract, and then hire an experienced contract lawyer who specializes in doctors contracts.
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