I am a hospitalist and my wife is in her last year of a surgical subspecialty residency and is currently looking for jobs. Can anyone provide some general advice on questions to ask about private practice contracts? As a hospitalist my contracts are usually pretty simple and there is no buying into the practice or anything like that and so I feel somewhat clueless. What specific questions should she be asking about a future contract she is offered with a private practice (ie about buying into the practice, how compensation is structured)?
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Some things off the top of my head...others can likely provide better insight or topics:- Compensation structure - have them run projections or at least show you the formula. If it's productivity based then know the variables (nurses, # of rooms, marketing, etc can affect production/efficiency). If the variables worry you then could try to negotiate a base plus productivity for the first year or 2 until she gets a good grip of how things will run
- Partnership track and terms?
- Noncompete - would try like ************************ to negotiate this out or at a minimum a smaller radius/time frame
- Malpractice insurance - tail coverage
- Leave - are you all planning on children? what's their leave policy? if there's a paid leave policy then make sure it's in writing
- vacation time - when does it increase? does it seem fair?
- CME $
- on call schedule
- what's the insurance look like (health, disability, etc)
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