For many residents and fellows, fewer than six months remain before the end of their programs, which means job hunting will begin soon. If you’re considering entering into an employment arrangement, rather than running your own private practice, here are some resources you’ll need.
Nearly 42 percent of physicians are employed, according to a 2013 AMA study, and experts predict that interest in employed positions is expected to continue as more physicians enter into contractual relationships with group practices, hospitals and health systems. While private practice has its advantages for many physicians, the benefits of employment, according to physicians who responded to a 2014 Medscape survey, include not having to manage the business side of the practice, deal with insurers and or handle billing.
If you’re a young physician considering entering into an employment arrangement, be sure to:
- Review the seven things you must know before signing an employment contract, as detailed by an expert health care attorney. Doing so will help ensure you’re getting a good contract before agreeing to work for a hospital or group practice.
- Get insight into negotiation tips, common contract terms, explanations of business and legal consequences, and sample contract provisions using the “Annotated model physician-group practice employment agreement” e-Book.
- Use the “Annotated model physician-hospital employment agreement” e-Book to understand the ins and outs of negotiating an employment contract with a hospital.
- Follow the framework in the AMA “Principles for Physician Employment” to guide you in collaborating with your employer on providing safe, high-quality and cost-effective patient care.
- Check out information on the AMA’s physician employment resources Web page, designed to help meet the unique needs of a growing population of employed physicians.
As part of its Professional Satisfaction and Practice Sustainability initiative, the AMA is developing tools physicians can use to enhance the practice of medicine and help them make informed decisions about their practice environments. These resources can help physicians successfully navigate difficult decisions, leading to sustainable medical practices that result in optimal health outcomes for patients and greater professional satisfaction for physicians.
