Recently in Compensation Category

Do you pay dues?

January 18, 2011

Don't assume that your employer will pay your professional dues and CME expenses. So many doctors that come into our offices say that these items do not need to be addressed in their physician employment contract. They trust that "it's standard" or that the CEO/Chairperson/practice manager said they "always cover those items."

In today's economic environment people change jobs. Just because one person told you it's covered, doesn't mean the next person will agree. Your physician employment agreement should cover as much as possible. Of course, not every detail can or should be contracted for, but financial items almost always should be.

This is especially true when you are orally promised that something will be covered. If everyone agrees that something will be paid for, what's the harm in agreeing in writing?

Whose Money is It?

December 16, 2010

Chicago area doctors have a number of opportunities to make additional money outside of their practice employment. Whether through providing expert witness testimony, contributing to papers, or lecturing at conferences, a wide variety of possibilities exist. However, many physicians do not read the fine print in their employment agreements.

In today's marketplace for physician employment, compensation is usually tied in some way to productivity. Practice group employers look to every avenue to collect on their employment investment. This often means taking ownership of every dollar you make that is at all related to the practice of medicine.

Knowing whether your contract allows you to retain income from other sources will help you decide where your time and efforts are best spent. Why bother spending 10-20 hours working outside your practice if every penny goes back to your employer?