Your employment contract and practice ownership agreements (i.e. shareholder agreements, practice purchase agreements, partnership agreements) play a critical role in determining the direction of your career. These issues are critical at any time in your career, but may be most important, post-residency or fellowship, when you are taking that first step. It is always important that you work with an attorney who can help you understand the legal and business ramifications of your agreements and negotiate and design them to meet your financial and personal objectives.
Mike Cassidy, a health care attorney at Tucker Arensberg, has reviewed and drafted hundreds of physician practice and employment contracts throughout his 40+ year career in healthlaw and has the expertise to help you to achieve your goals and avoid the pitfalls that many physicians face when negotiating a contract. Adam Appleberry, also a health care attorney, works with Mike on contract drafting and review.
Mike Cassidy and Adam Appleberry will provide you with a detailed review of your contracts. It is also recommended that you review the article – Basic Issues for New Physician Contracts.
Your Employment Contract review will cover:
- Thorough description of your contract provisions
- Employment bargaining positions and fallbacks
- Interview strategy coaching
- Employee benefit analysis
- Restrictive covenant/Non-competition issues
- Salary negotiation
Ownership documents require analysis of additional issues:
- Purchase price
- Payment options to minimize tax consequences
- Fair market value
- Governance issues
- Financial statements analysis
- Estate planning consequences
Our regular fee for this analysis is $550/hr for Mike and $285/hr for Adam. For a thorough review and representation in the negotiation process, you should expect to devote an average of 5-15 hours, with the greater time usually associated with ownership issues. However, residents and fellows benefit from a fee arrangement that will cap the maximum fee at $1,100.00 or the lesser of the combined hourly rate for analysis and negotiation of the employment contract and for the same service relating to the Ownership Documents.