The Review Podcast

The FIRE movement is a lifestyle strategy focused on becoming financially independent as soon as possible in order to retire early. Physicians, depending on their spending and saving habits, can be well positioned to quickly reach FIRE.

Dr. Leif Dahleen, a (retired) anesthesiologist, is the founder of Physician on FIRE, a website providing financial education in the form of blog articles and courses to physicians pursuing some leve...

Today, the majority of physicians are employed by corporate entities like hospitals or large health systems. However, there are still plenty of doctors joining private practices, perhaps with partnership tracks outlined in their employment contracts.

Contracts for private practice can be structured differently than those for purely employed settings, and details surrounding partnership need to be absolutely clear before ever signin...

For a J-1 waiver application to be approved, a physician's employer and employment contract must meet certain requirements. For instance, the contract must offer full-time employment for at least three years and exclude any sort of non-compete clause. The employer must also be located in an area which is federally designated as "medically underserved."

Immigration attorney, Angela Lopez, revisits the podcast to explain these requir...

The employment landscape is always changing and presenting new challenges for physicians. Dr. Yalda Jabbarpour, a family medicine physician and Director of the Robert Graham Center for Policy Studies, joins Resolve CEO and attorney, Kyle Claussen, to discuss current family medicine physician employment trends. Dr. Jabbarpour references recent research concerning these trends and explains how physicians should make employment decisi...

For physicians on a J-1 visa, finding a first attending job and applying for a J-1 waiver is a lengthy process with many steps. It's crucial to start a job search as early as possible, so there will be enough time to find the right position, sign a contract, apply for a waiver, and have the application approved. Immigration attorney, Angela Lopez, returns to the podcast and discusses the timeline for physicians who are completing t...

In the event that one party is in breach of contract, liquidated damages define an amount of compensation that will be owed to the opposing party. Physician employers typically define liquidated damages for contract breaches where an exact damage amount could, in theory, be difficult to calculate—for example, if a physician leaves a job without giving the proper notice or violates a non-compete agreement.

Attorneys Kyle Claussen an...

A J-1 visa allows foreign medical graduates to participate in graduate medical training programs within the United States. However, once that training is complete, physicians on a J-1 visa must return to their home country for a minimum of two years before they can return to the U.S. and practice medicine as an attending. A J-1 visa waiver allows these physicians to circumvent the two-year foreign residence requirement. Angela Lope...

A force majeure, or "act of god," clause relieves both parties from their contractual obligations when unforeseen or uncontrollable events occur. These clauses typically come into play when a disaster, such as a hurricane or fire, takes place, rendering either party unable to fulfill their obligations. Following the COVID-19 pandemic, force majeure clauses have become more common in physician employment contracts. Attorneys Kyle Cl...

Guaranteeing the proper equipment and support staff in an employment contract can be important for certain physicians. Surgical specialists may need access to specific tools or robotics, and other physicians might want to ensure a PA or scribe will be working alongside them. Attorneys Kyle Claussen and Brady Glissendorf discuss when, why, and how equipment and support staff needs should be stipulated in a contract.

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Outside of expiration, an employment contract can generally be terminated in one of two ways - "for cause" or "without cause." While termination without cause does not require a specific reason, termination for cause is usually the result of some misconduct by either a physician or an employer. Attorneys Kyle Claussen and Skyler Mickelson detail some examples of termination for cause and explain how broad definitions of misconduct ...

Properly defined duties, responsibilities, and scheduling are often overlooked in physician employment contracts. These aspects of a job can appear straightforward, and are typically discussed during the interview process, but those conversations do not always translate well to an offer letter or contract. Attorneys Kyle Claussen and Brady Glissendorf explain how vague contract language about scheduling and other logistics of a job...

Negotiating an employment contract can be daunting, especially for new attending physicians. Medical school and training will seldom prepare physicians for the business side of medicine, which includes reviewing and negotiating contracts. While it is normal to feel apprehensive about negotiations, many fears surrounding the process are overexaggerated and it is extremely rare for things to go wrong. Attorneys Kyle Claussen and Bryc...

It is common to find some form of outside activities restrictions in physician employment contracts. These terms can restrict a physician's ability to work a side gig or grow a business outside of their day job, especially if it also relates to medicine. Attorneys Zach Beare and Kyle Claussen explain how outside activities restrictions are typically structured and how physicians might negotiate them with an employer.

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The majority of physician employment contracts will include some sort of call schedule. The amount of call hours, how the schedule is shared, and compensation for your time will vary based on specialty and location. Regardless, call has the potential to make or break a physician's work/life balance. Attorneys Bryce Krieger and Kyle Claussen explain how employment contracts typically outline call and describe the more ideal scenario...

All physicians need some form of malpractice insurance, especially since most will be sued at some point in their careers. However, there are a few different policy types that employers may offer and even more options for how the coverage is paid for. Attorneys Zach Beare and Kyle Claussen break down the two main policy types, explain when tail coverage is necessary, and describe the various payment scenarios.

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When considering employment contracts, compensation is often top of mind. The majority of physicians who review their contracts will at least compare their current or potential compensation to fair market value (FMV) and then negotiate their salaries and bonuses if necessary. Attorneys Lauren Kaufman and Kyle Claussen explain exactly what constitutes FMV and how physicians can utilize it when negotiating compensation numbers.

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Employers often offer recruitment incentives to draw physicians into working at their practices or health systems. These incentives can include signing bonuses, stipends, relocation allowances, student loan repayment plans, and more. Attorneys Bryce Krieger and Kyle Claussen discuss how recruitment incentives are typically structured, what financial pitfalls physicians should beware of, and even describe some of the most unique inc...

Whether a physician needs to exit an employment contract now or is planning for what may happen in the future, it's important to understand how the contract can be terminated and any financial obligations involved. Attorneys Zach Beare and Kyle Claussen discuss employment contract termination, specifically termination without cause, and explain the terms physicians need to consider.

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About The Review Podcast by Resolve

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Lauren Kaufman and Kyle Claussen have a conversation about Letters of Intent (LOI). What is a Letter of Intent? What's included in them? How do they compare to full contracts? Resolve digs into the details on LOIs.

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About The Review Podcast by Resolve

The business of medicine is constantly changing. The Review Podcast by Resolve discusses current contract issues for physicians, compensation trends and tips for a success...