Interviewing
Note that this advice is tailored for providers, not medical staff. The initial interview often takes a relatively casual tone and is frequently conducted over the phone or via video call. This initial conversation allows both you and the potential employer to gauge mutual interest without the formality of a face-to-face meeting. For in-person interviews, larger organizations might cover your travel expenses, recognizing the mutual investment in a potential employment relationship. However, smaller groups might not have the resources to do so. It's prudent to request a sample contract before incurring any out-of-pocket travel expenses. This way, you can determine if the employment terms are within the range of what you're seeking and if it's worthwhile to proceed with an in-person visit.
When preparing for interviews, research the practice thoroughly to understand its size, reputation, patient population, and workplace culture. This knowledge not only prepares you for the interview but also helps you ascertain your fit within the practice. Understand your value to the practice and be prepared to articulate it. For instance, if you have a subspecialty interest in Mohs surgery or pediatric dermatology, remember the value of expanding the services the practice offers.
Additionally, consider these tips:
Prepare questions that demonstrate your interest in the practice's future and your role within it.
Reflect on your long-term career objectives and how they align with the potential job.
Be clear about your expectations for salary, schedule, administrative support, and professional development opportunities.
Evaluate the location and lifestyle associated with the practice, as personal satisfaction outside of work contributes to professional fulfillment.
Remember, the interview is as much about you assessing the potential employer as it is about them evaluating you. It’s an opportunity to build a professional relationship that could shape your career for years to come.
Contracts & Important Details
Note that none of the text on this page should be construed as legal advice. Please inquire with a lawyer whenever possible.
When it comes to contracts within medical practices, whether you're a physician, a physician assistant (PA), or a nurse practitioner (NP), the cardinal rule is never to sign a contract without having it reviewed by a contract lawyer who specializes in medical contracts. These lawyers not only understand the legal jargon but also the nuances of medical practice agreements. They can provide invaluable assistance in negotiations, sometimes taking the heat for requested changes that you want in the contract, by attributing them to legal advice.
Assignment clauses: Assignment clauses in a medical doctor's contract are critical terms that dictate the handling of various rights and responsibilities. They define whether, and under what circumstances, the parties involved may transfer their rights or obligations under the contract to another party. This is particularly important in scenarios such as a practice being sold or merging with another entity. An assignment clause might specify, for example, that a physician’s employment contract cannot be assigned to another practice or entity without the physician's consent. This protects the physician from being compelled to work for a different employer, especially one they did not choose or with whom they may not share the same values or operational philosophy. For instance, if a practice is acquired by a private equity firm or another healthcare system, the physician would have the right to agree to or decline the transfer of their contract to the new ownership.
Sign-On Bonuses: If your contract includes a sign-on bonus, be aware that if the contract is terminated early, you might have to repay the entire pre-tax amount. For instance, a $25,000 bonus might only net you $18,000 after taxes, but you would still owe the full $25,000 if you break the contract.
Cosmetic Procedures: For dermatologists, contracts should specify who bears the cost of the products used in cosmetic procedures. If you are expected to pay for these products, this could significantly affect your take-home pay.
No Guaranteed Salary: Be cautious of contracts that do not offer a guaranteed salary, especially if there isn't a patient waitlist. Starting in a new practice without a guaranteed patient base could result in a substantial financial loss if you are compensated based solely on production.
Decreased Staffing Post-Guarantee: Some practices may provide ample staffing and support during an initial guaranteed salary period but reduce this support once you move to a production-based compensation model. This can drastically affect your ability to maintain your income and the quality of patient care. Although these details are usually not included in any contract, it is important to be wary of false-promises and discuss the opportunity with unbiased tenured employees.
Term of Employment: Be clear on the length of the contract and the conditions for renewal. Avoid long-term contracts that don't offer flexibility or opportunities for renegotiation based on changing circumstances.
Non-Compete Clauses: Pay particular attention to non-compete clauses. These should be reasonable in terms of geographic range and duration. Some clinics overreach by including all clinic locations in the non-compete clause, rather than just the location where you will be working. This can unfairly restrict your future employment opportunities.
A good contract lawyer will help you navigate these potential pitfalls, ensuring that your contract is fair and sustainable. It's essential to enter into any contractual agreement with full understanding and clear terms to protect your interests and future. Remember, negotiations are part of the process, and with professional legal guidance, you can work towards an agreement that supports your career goals and personal needs. Always take the time to review every aspect of the contract carefully and consider the long-term implications of each clause.
Book Recommendations
For young physicians, nurse practitioners, and physician assistants embarking on their career journey, having a well-rounded understanding of various aspects beyond clinical skills is crucial. This includes negotiation tactics, financial management, and personal development. Here are some book recommendations that can be invaluable for those on the job hunt and throughout their careers (note none of these are paid sponsorships of any kind):
1. 'Never Split the Difference' by Chris Voss: This book is a treasure trove of negotiation tactics. Written by a former FBI hostage negotiator, it provides insights into the art of negotiation, teaching readers how to be more persuasive in both professional and personal settings. These skills are crucial when discussing contracts, salaries, and other terms of employment.
2. 'Die with Zero: Getting All You Can from Your Money and Your Life' by Bill Perkins: This book offers a unique perspective on managing and enjoying your wealth. It argues for a balance between saving for the future and enjoying your earnings now, emphasizing the importance of experiencing life fully. For medical professionals, who often delay gratification for many years due to the demands of their training, this book provides valuable insights on financial planning and personal fulfillment.
3. 'The Checklist Manifesto: How to Get Things Right' by Atul Gawande: This book, written by a renowned surgeon, highlights the importance of checklists in ensuring efficiency and accuracy in complex professions, including medicine. It's a great read for young professionals looking to improve their organizational skills and workflow efficiency.
4. 'How Doctors Think' by Jerome Groopman: This book delves into the cognitive processes of physicians. Understanding how doctors reach diagnoses and decisions can be incredibly beneficial for those starting in the medical field, providing insights into avoiding common thinking pitfalls.
5. 'The Lean Startup: How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses' by Eric Ries: While not specific to medicine, this book is excellent for anyone considering starting their own practice or being involved in healthcare innovation. It introduces principles of starting a business with minimal resources and adapting quickly based on feedback.
6. 'Emotional Intelligence 2.0' by Travis Bradberry & Jean Greaves: Emotional intelligence is a key skill in healthcare, where interactions with patients, families, and colleagues can be complex and emotionally charged. This book offers strategies to understand and improve your emotional intelligence, a vital skill for effective communication and leadership.
These books cover a broad range of topics relevant to young healthcare professionals, from practical skills like negotiation and organization to broader concepts of financial planning and personal development. They provide valuable tools and perspectives that can aid in navigating the early stages of a medical career.
Final Thoughts
Embarking on a career in the medical field, whether as a physician, nurse practitioner, or physician assistant, is a journey filled with diverse challenges and opportunities. From understanding the nuances of different practice environments and ownership models to navigating the complexities of job contracts, it's essential to approach each step with knowledge and preparedness. Equipping oneself with negotiation skills, financial acumen, and an understanding of the dynamics in various medical settings can make a significant difference in career trajectory and satisfaction. Additionally, being aware of potential pitfalls in contracts and the impact of factors like private equity can help in making informed decisions. This resource aims to provide a comprehensive guide for young medical professionals as they step into the evolving landscape of healthcare employment, ensuring they are well-equipped to make choices that align with their professional goals and personal values. Remember, while the path may be intricate, with the right tools and knowledge, it leads to a rewarding and impactful career in medicine.