8 contract negotiation strategies for physicians

Written by Mary Rechtoris | May 11, 2016 | Print  |

At the American College of Physicians 2016 Internal Medicine Meeting in Washington, D.C., Michele G. Cyr, MD, and Florida attorney Christopher L. Nuland detailed key strategies physicians should implement in their contract negotiations.

Here are four strategies from Dr. Cyr:

 

1. Figure out your goals. Before negotiating a contract, be sure to set specific goals that you want to achieve. Also, figure out what the other party wants and devise ways for both parties to meet these goals.

 

2. Negotiate for success. When negotiating, consider resources, compensation and hours, all factors that will likely dictate a physician's success.

 

3. Assert your value. Don't ask for a pay raise based on what you need; ask for a pay raise based on what you deserve.

 

4. Make your needs relevant. Do not say you need a pay raise for something not relevant to all parties, such as a child's tuition. Make sure the needs are relevant to the negotiation and practice.

 

Dr. Cyr's co-presenter, Christopher Nuland, shared his advice for physicians:

 

1. Ensure duties are assigned within the practice. Make sure a practice's duties are assigned within the specialty of practice, as opposed to assigned by a board of directors.

 

2. Don't forgo reading. Read all of your employer's policies and procedures before agreeing to them.

 

3. Ask for specifics. When negotiating, seek a minimum three weeks of vacation, $2,500 for CME activities and allocations for society memberships, expenses and malpractice insurance.

 

4. Clarify the expectation. If a contract states you have a "minimum of 40 patient contact hours per week," negotiate having 35 patient contact hours per week.

 

More articles on practice management:
6 thoughts on the hospital-physician relationship: Where is it headed?
Physicians receiving industry payments boast higher rates of brand-name prescribing: 5 points
How many PAs, NPs do medical practices typically employ? 5 statistics

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