Keep advisors who can help you. “It`s worth having a lawyer who knows about the laws of this state,” says Alice G. Gosfield, a health lawyer in Philadelphia, JD. “Also, it`s worth having an accountant. A doctor`s personal tax effects can be important. Sometimes the group weights other factors in determining compensation, the distribution of value over variables such as seniority, specific training, research or teaching, and administrative tasks. A potential trap is unequal ownership, warns Sansweet. “Make sure you have special rights that a chief medical officer can have that last a long time or never end,” he says. “An example is an administrative fee that the senior partner receives for practice – beyond normal income.” These additional revenues should be adequate and correlated with additional efforts and responsibilities. Step action doctors should let their lawyer be the “bad guy”; They can always blame their lawyer.
It is important for the physician to maintain good relationships with partners during the negotiation process, while ensuring that important issues are dealt with appropriately. Assignment based on time worked. This method can be used to house doctors working part-time. In short, make sure that the doctor who arrives fits into your pay structure, whether it`s eating what they`re killing, or the team`s approach. Action Step Physicians should ask existing partners about the practice (z.B. Who owns the house of goods and appliances? Does the practice have contracts with related companies?). Physicians should ensure that the buy-back agreement contains assurances and guarantees to address these issues. Action Step physicians should consider the impact that the terms of their employment contract will have on their partnership buyout negotiations.
Where possible, the employment contract should deal with general concepts of buy-in, such as. B the method of calculating the purchase price, the method of payment and the percentage of ownership units to be transferred. As practice assigns expenses to each partner, another important element of income should be addressed at the time of signing a shareholder pact. “The incentive formula will focus to some extent on spending,” says Gosfield. Too often, medical groups or partnerships are brought together with little or no input from lawyers. Most of the time, doctors feel too busy with their practice to take the time to consult a lawyer on the contours of their partnership contracts. However, if we take the time to start a partnership to define the scope of the partnership and reduce the agreement to writing, we will save countless hours and costs later in the event of problems. Some of the most common questions that DiTommaso`s lawyers see are: Note.