Professional Advisors - Physician Contract Glossary

Professional Advisors

Definition

Legal, financial, or other experts who guide you in reviewing or negotiating your physician employment contract.

Examples in Context

“The physician may seek legal counsel or consult a CPA to review the employment contract before signing.”

“Physician is encouraged to obtain advice from an experienced healthcare attorney before agreeing to compensation terms.”

Implications for Physicians

• Ensures you understand complex legal or financial language in your contract.
• Can reveal unfavorable terms that might limit your future career options.
• Provides insight on industry standards for salary, benefits, and non-compete clauses.

Negotiation Tips

• Engage an attorney experienced in healthcare contracts to identify legal risks.
• Consult a CPA for insights on tax implications of your compensation package.
• Request a flat-fee agreement to manage costs effectively.

Red Flags and Pitfalls

• Relying solely on the employer’s attorney, who represents the employer's interests.
• Skipping professional review to save money, which may result in costly mistakes later.
• Failing to confirm your advisor’s expertise in physician-specific contracts.

Related Terms

• Employment Contract
• Employer
• Commencement Date

FAQs

• “Do I really need an attorney to review my contract?”
  • Yes, especially if the contract includes non-compete clauses, complex compensation formulas, or termination conditions.
• “Should I consult a CPA for my contract?”
  • Yes, a CPA can assess the financial implications of your salary, bonus structure, and tax-related concerns.
• “How much does hiring a professional advisor typically cost?”
  • Fees vary, but many healthcare attorneys and CPAs offer flat-fee reviews, which can provide value and control costs.

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.