For physicians joining an independent practice, a contract will ideally outline when you will have the opportunity to become an owner of the practice and the terms of ownership.
Future Equity
07
Non-compete provisions (or restrictive covenants) are enforceable in many states. Non-compete provisions may include geographic radius, length of time, scope of practice, and non-solicitation of patients, staff, or vendors. The non-compete you agree to will impact your potential future practice opportunities.
Non-compete
06
A number of physician compensation models exist, including salary-only, salary plus bonus, and productivity-based compensation. Your employment agreement should clearly define your compensation plan, how it is calculated, and how it might change over time.
Compensation
05
Common benefits include paid time off, CME stipend, AAFP membership dues, and malpractice insurance. Additional benefits can include health insurance, retirement plans, and professional association dues.
Benefits
04
Be sure you understand the type of policy provided in your agreement, who is responsible for paying for the policy, and how tail coverage will be paid for when your employment ends. AAFP Insurance Services Inc. can help you evaluate the malpractice provisions of your contract and understand your coverage needs.
Malpractice
03
Your employment agreement should clearly spell out expectations and define your essential duties, practice location, and schedule. Ensure what is in writing matches your expectations. A lack of clarity in daily activities and expectations can lead to misunderstanding or conflicts.
Job Duties
02
This provision stipulates how your employment begins and ends. It should outline details of the length of agreement, automatic renewal or expiration, termination for cause, automatic termination, termination without cause, and non-renewal termination.
Term and Termination
01
Physician contracts share many common provisions. Here are some elements you’re likely to encounter.
7 key provisions to know in an employment contract
For physicians joining an independent practice, a contract will ideally outline when you will have the opportunity to become an owner of the practice and the terms of ownership.
Future Equity
07
Non-compete provisions (or restrictive covenants) are enforceable in many states. Non-compete provisions may include geographic radius, length of time, scope of practice, and non-solicitation of patients, staff, or vendors. The non-compete you agree to will impact your potential future practice opportunities.
Non-compete
06
A number of physician compensation models exist, including salary-only, salary plus bonus, and productivity-based compensation. Your employment agreement should clearly define your compensation plan, how it is calculated, and how it might change over time.
Compensation
05
Common benefits include paid time off, CME stipend, AAFP membership dues, and malpractice insurance. Additional benefits can include health insurance, retirement plans, and professional association dues.
Benefits
04
Be sure you understand the type of policy provided in your agreement, who is responsible for paying for the policy, and how tail coverage will be paid for when your employment ends. AAFP Insurance Services Inc. can help you evaluate the malpractice provisions of your contract and understand your coverage needs.
Malpractice
03
Your employment agreement should clearly spell out expectations and define your essential duties, practice location, and schedule. Ensure what is in writing matches your expectations. A lack of clarity in daily activities and expectations can lead to misunderstanding or conflicts.
Job Duties
02
This provision stipulates how your employment begins and ends. It should outline details of the length of agreement, automatic renewal or expiration, termination for cause, automatic termination, termination without cause, and non-renewal termination.
Term and Termination
01
Physician contracts share many common provisions. Here are some elements you’re likely to encounter.
7 key provisions to know in an employment contract