Physician Contract Glossary
General Contract Terms
- Employment Contract
- Parties to the Contract
- Employer
- Commencement Date
- Duties and Responsibilities
- Professional Advisors
- Independent Contractor Agreement
- Letter Agreements
- Ownership and Setting of Fees
- Term of Contract
- Automatic Renewal ("Evergreen")
Compensation & Financial
- Stated Salary
- Formula Compensation
- Draw
- wRVU
- Bonus Structure
- Collection-Based Compensation
- Guaranteed Financial Assistance
- Excess Collections
- Repayment Provisions
- Loan Forgiveness
- Fair Market Value
- Relocation Assistance
- Sign-on Bonus
Professional Liability & Insurance
- Professional Liability Insurance
- Claims-Made Policy
- Occurrence Policy
- Tail Insurance
- Extended Reporting Period Endorsement
- Tail Premium
- Self-Insurance Coverage
- Prior Acts Coverage
- Indemnification
- Notice of Claims
- Disclosure in Application
Termination
- Termination for Cause
- Termination without Cause
- Notice Period
- Opportunity to Cure
- Payments After Termination
- Effect of Termination
- Death and Disability Termination
Benefits & Leaves
- Paid Time Off (PTO)
- Vacation Policy
- Sick Leave
- CME Allowance
- Summary Plan Description (SPD)
- Health Insurance
- Cafeteria Plan
- Disability Insurance
- Retirement Plan
- Maternity Leave
- Military Leave
- Mandatory Expenditures
- Mandatory Reimbursement
- Fringe Benefits
Restrictive Covenants
- Covenant Not to Compete
- Geographic Scope
- Restricted Activities
- Length of Restriction
- Buyout Amount
- Confidentiality Covenant
- Nonsolicitation Clause
- Injunctive Relief
- Non-Disclosure of Confidential Information
- Consequences of Violating Restrictions
Practice Management & Operations
- Call Coverage
- Assignment of Patients
- Setting Fees
- Honoraria Payments
- Ownership of Medical Records
- Inventions and Intellectual Property
- Equity Ownership
- Buy-Sell Agreement
- Deferred Compensation Agreement
- Ancillary Services
- Related Investment Opportunities
Regulatory & Compliance
- Stark Law
- Anti-Kickback Statute
- Anti-Kickback Safe Harbor
- Stark Law Safe Harbor
- Federal Regulatory Issues
- Public Benefit Requirement
- Community Need Assessment
- IRS Requirements
- Credentialing and Privileging
Hospital Employment
- Hospital Assistance Agreement
- Income Guarantee Agreement
- Hospital Employment Contract
- Retention Provisions
- Coordination with Group Employment
- Collateral for Repayment
- Performance Conditions
- Breach of Agreement
- Regulatory Compliance in Hospital Agreements
Dispute Resolution
Legal Disclaimer
The information provided in this glossary is for educational and informational purposes only and should not be construed as legal advice. While we strive to provide accurate and up-to-date information, this content is intended to help physicians better understand common contract terms and does not replace professional legal guidance.
For personalized advice regarding your employment contract or other legal concerns, we strongly recommend consulting with a qualified attorney who specializes in physician employment contracts.
You can find experienced legal professionals through our Physician Contract Lawyer Directory.