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If you have heard of a physician agent, but are curious about how Lauth O'Neill provides their concierge-style physician job search and physician contract review services, please check out our new FAQ page. Here we have outlined various questions we often receive and have provided detailed answers. If you have further questions, please do not hesitate to contact Leigh Ann O'Neill at 317-989-4833 or loneill@lauthoneill.com.
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In this series of articles, we are outlining examples of ways Lauth O’Neill’s physician contract review and agent services have added value to our physician clients. While every physician job search is unique and has its own unique outcome, all of the examples in this series are based on actual client experiences.
Lauth O'Neill Value-Added Example #3: Crafting favorable non-competition language. When you receive your physician employment contract, it may include a non-competition covenant. In general, this type of covenant restricts you from practicing medicine within a certain mile radius of your employer's office, for a set amount of time following your employment. As an experienced health care attorney, Leigh Ann is able to craft legal language within the physician employment contract to ensure her clients are not held to non-compete covenants in certain instances. While we generally disagree with physician non-competes for a variety of reasons, there are particular instances in which physicians absolutely should not be held to complying with these terms, and it is our job to nail down those instances, and put our legal skills to work in amending the employment contract language to ensure our clients receive the most favorable legal terms. This is merely one additional example of the value a physician lawyer can provide when providing physician contract legal review services. If the non-competition covenant ends up being enforced, the result can be that the physician employee is required to uproot not only his or her practice, but his or her family as well, in order to move to a different city or state. This is an extraordinary cost that can be avoided if the proper legal attention is paid to your physician employment contract terms.
For more information on how Leigh Ann can assist in your physician contract review, please contact her at 317-989-4833 or loneill@lauthoneill.com.
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When residents and fellows finally finish up their medical training and start to look for their first physician job, one of the many things they look forward to is purchasing a house in the city they'll call home. Whether this will be their first home purchase, or one of many previous purchases, the prospect of settling down into that first post-training home is an exciting one. What many physicians are remiss to consider, however, is how the home loan options in a given city can make that city more or less attractive than an alternative city they may be considering. What the different banks in each prospective city are willing to do for young doctors can make a world of difference when it comes down to actually committing to a job in any given location.
On this blog, I have previously discussed how physicians should pay close attention to cost-of-living differences when they weigh their job options between different cities, but the notion of a "doctor loan" is somewhat of a newer concept in some areas of the country, and can have a huge impact on your budget and how your first paychecks will be spent. A "doctor loan" is a home mortgage loan offered by some banks to physicians upon proof of a written physician job contract. Such loans are often offered with very high purchase limits, require zero money down on the home purchase, and come with the same low interest rates that the rest of home buyers these days are enjoying. If you have access to a zero-down home mortgage loan, and with a low interest rate, it is entirely possible that the impact of this favorable loan can overcome any shortcoming you may perceive in a lower salary offer as compared to a higher salary offer in a city where no doctor loans are offered. Additionally, having access to a doctor loan with very favorable terms and a low interest rate can make student loan repayment much faster.
To learn more about effectively weighing the various pros and cons in your physician job search and selecting the employment arrangement that is best for you, contact Leigh Ann O'Neill at 317-989-4833 or loneill@lauthoneill.com.
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The answer is simple: We make our clients money, and we save our clients money. The physician job search process is certainly not a short or simple one. It takes months, and more typically, years to complete, and involves innumerable moving parts. The job search process requires extensive outreach efforts and marketing of a physician's credentials and qualifications. And once job offers are received, the physician employment contracts must be legally reviewed for costly and detrimental legal terms, and also negotiated to ensure the best offer is accepted. After all, the point of a physician job search is not to just find a job. The point of your physician job search is to find the best job for you- and the one that is most advantageous to you legally and financially.
In this series of articles, I will outline examples of ways Lauth O'Neill's professional services have added value to our physician clients. While every physician job search is unique and has its own unique outcome, all of the following are based on actual client experiences.
Lauth O'Neill Value-Added Example #1: A $75,000 increase in annual salary, in addition to a $50,000 signing bonus. How did we pull this off? We know how to gain leverage for our clients, and we know how to use it appropriately to negotiate better benefits.
Lauth O'Neill Value-Added Example #2: Amending insufficient medical malpractice coverage terms to avoid unquantifiable expense to our client. When a physician employment contract includes insufficient medical malpractice coverage, the consequence can be detrimental to the physician- not only expensive, but potentially career-ending. We understand the ins and outs of physician employment agreements, and know exactly what to look for to ensure that our clients are not stuck with unfavorable and harmful legal terms.
Check back here often or contact Leigh Ann directly for additional ways Lauth O'Neill Physician Agency provides value to its clients. Contact Leigh Ann at loneill@lauthoneill.com or 317-989-4833.
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This is a question I sometimes hear mumbled when I discuss what I do with others. They wonder if the job search process might be too personal to have someone else involved in it, let alone take the reigns and head it up. And I always say, "yes, physician job searching is certainly very personal. But that is where our strengths come in." The bottom line is that physicians don't want to embark on their job search all on their own. When done properly, it's too time consuming and burdensome, and involves too many tedious tasks. Not to mention, physicians understand that a physician agent has the experience necessary to put the physician on a level playing field with the employers in terms of getting the benefits, salary, and other forms of compensation they deserve. After all, physician agents have experience with negotiating contract terms and they understand the various physician compensation models and how to make sure physicians get the best deal out of their next employment arrangement.
So while the job search process is, of course, highly personal, we make it our duty to ensure we know all about what you want out of your next job. We talk with you to find out what sort of practice you envision yourself having, in what part of the country you would like it to be, and what aspects of life outside of work are important to you and your family. Of course we don't stop at that- we gain a thorough understanding of what details you expect from your employment- be that your physician salary, particular benefits, time away from work, and any other special features you would like. While some clients have already been contacted by potential employers or have heard about possible job openings from colleagues, we not only assist you in pursuing those jobs, but we also go a step farther. We help you explore all other potential jobs so that you can rest easy knowing all viable options have been unveiled and you are not missing out on a job that may be a better match for you. In addition to seeking out all potential physician employment options, we follow through on every critical step of the physician job search process- from keeping in touch with potential employers and scheduling your interviews, to providing a detailed legal analysis of all contract offers you receive and suggesting favorable changes.
To learn more about how we can assist you in this very personal, and important process, contact Leigh Ann at 317-989-4833 or loneill@lauthoneill.com.
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Many of the physicians who staff the residency positions across the country are foreign nationals who have come to America to further their medical training. As the physician shortage seems to continually exacerbate, it is more and more important that the well-qualified physicians training in America by way of a J-1 visa be able to secure employment following their training. While there are various different means by which foreign nationals can legally remain in the US while being employed after their medical training has concluded, one of such ways is to obtain a J-1 waiver, which prevents the individual from having to return home for a required two-year period following his or her medical training in the US. The US government grants a finite amount of such waivers because it recognizes the importance of having enough highly-trained physicians remain in the country in order to fill positions in medically underserved communities, in health professional shortage areas, and in the Veterans Affairs hospitals.
The J-1 waiver process is lengthy, and adds significant stress and dynamic to the already stressful process of locating a physician employment position. The deadline in most states for J-1 waiver applications to be submitted is October 1 (it may be earlier in some states), making Spring the perfect time to get started in job searching and securing an employment offer which will allow J-1 waiver candidates to apply for their waiver in the Fall. The job search process is long and tedious, and it is immensely helpful to candidates to be the early job seekers so that they catch employers' attention at an early stage and have plenty of time for their J-1 waiver application to be processed.
At Lauth O'Neill, we are proud to work with experienced attorneys who have significant expertise in the J-1 waiver process. Additionally, when a client hires us to provide our Premier Opportunity Service, we cover all costs associated with external counsel who facilitates the J-1 waiver application process. Our goal is to make your job search as simple and painless as possible, leaving you your free time away from work. For more information on how we can help, please contact Leigh Ann O'Neill at 317-989-4833 or loneill@lauthoneill.com.
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It's no secret that the internet has drastically changed the way most individuals find jobs these days, and physicians searching for their ideal employment arrangement are no exception. In fact, there are dozens and dozens of physician job search websites, claiming to post the latest job openings, and helping you land in your perfect professional spot. The disconcerting notion still remains, however- "what if I miss that perfect job?"
As the various physician employers utilize a number of different avenues to fill their open positions, it's hard to be certain that you are getting a comprehensive view of what might be available. After all, there are always those employers who have so many qualified candidates contacting them for a job that the employer literally has to spend zero time and effort advertising an open physician job position. These reasons together make it extremely important to ensure your physician job search is both comprehensive and thorough. You may find many leads and exciting prospects on the physician job search websites, but remember those are only the positions that have not already been filled by word of mouth. Making a wrong job move can be extremely costly for both you and your potential employer. In many states, if you don't like the first job you take, you may have to move yourself and your family to avoid breaching a non-competition covenant, not to mention possibly forfeiting moving allowances and signing bonuses to break your contract early. It's obvious that much pain and expense is saved if you find your best job match right from the get go. That is why a thorough customized physician job search is highly recommended- don't make the mistake of falling into the first job opening you find.
Let us help you find your ideal physician employment arrangement. Visit us at www.lauthoneill.com.
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As recently reported in an article from AMed News, a physician job candidate who showcases teamwork ability is likely to stand out from the crowd among other candidates. This article was commenting on a recent poll taken by the Medicus Firm, which found that 78% of hospital CEOs who are already part of or plan to form an Accountable Care Organization ("ACO") want to hire doctors who are team-oriented. Unfortunately for these CEOs, 58% of them indicated that between zero and half of their employed physicians were a good fit for an ACO. So what does this all mean to physicians who are job searching now?
The new emphasis on team work is stemming from various payment overhauls called for in the Affordable Care Act ("ACA"). Such payment reform measures range from bundled payment programs to the formation of ACOs. In both instances, the way in which physicians are paid will change drastically. Medicare has historically paid physicians on a fee-for-service basis. Under the ACA payment reform provisions, the future holds new Medicare payment models that will instead pay for better outcomes and efficiency. For example, bundled payment pilot programs are underway that reimburse a group of providers for treating an entire illness or surgical encounter. Not only does the single bundled payment cover a hospital stay, but also the surgeons' fees, the rehabilitation therapy needed afterward, the long term care hospital stay, if necessary, etc. Under such programs, providers are incentivized to find ways to treat patients more efficiently and collaboratively.
Additionally, with the advent of ACOs also comes a new push for physicians and other providers to collaborate with hospitals and other facilities in order to provide the most efficient care possible. An ACO is a group of coordinated healthcare providers that use a variety of quality metrics and cost reduction measures in order to lower the cost of the health care it provides to patients. Under the ACA's main Medicare ACO program, when an ACO saves Medicare money by treating a patient at a lower cost, the ACO will be rewarded by splitting the savings with the Medicare program.
These two main payment reform measures from the ACA are resulting in much banter about the value placed on physicians who can work well in a team setting. So for all of the younger physicians out there who are beginning their physician job search, it makes a lot of sense to keep these changes in mind as you draft your cover letters, CVs, and attend interviews. If you can emphasize your ability to work effectively as a team member, and to be open to new ways of providing efficient care to your patients, you are likely to stand out from the crowd.
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When I tell people the name of my company, and before I'm able to describe exactly what it is that I do, folks often say, "oh, sure, like a recruiter?" My response is, "no, exactly the opposite, actually." Physician recruiters are hired by hospitals and other large physician employers to find and vet out appropriate physicians to fill an open position. I, on the other hand, as a physician agent, work only for physicians. If I were to also be recruiting physicians on behalf of a hospital, that could be a direct conflict of interest. Even when it comes down to following different people on Twitter, I am very conscientious about how my followings might be perceived. I am dedicated to focusing only on what my physician clients are interested in. I do not work in any capacity to fill open positions that hospitals might have. While it is a happy ending when a hospital fills a position with a physician who was seeking what that position offers, my job is to first make sure I know exactly what my client is looking for, and then seek out employers who may be able to offer it. A physician agent is not supposed to stop at advertised positions that employers are trying to fill- a thorough and zealous physician agent will leave no stone unturned by talking with all potential employers, including those who may not be advertising any open positions at all.
So, in the simplest of terms, the main difference between a physician recruiter and a physician agent, is the physician recruiter is working for the physician employer, and is paid by the same. A physician agent is working exclusively for the physician, and if they work the way I do, is only paid when the physician accepts their employment contract. This distinction is extremely important, and cannot be overstated.
To learn more about the physician agent services we offer and our Premier Opportunity service, in particular, click here.
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This is a question I hear all the time. As a physician agent and a lawyer, I often have physicians ask me: do I really need to have my employment contract reviewed by a lawyer? An interesting fact I have come to notice with regard to this question is that I never hear it from physicians who have been out practicing for several years. I imagine part of the reason behind this phenomenon is they know by now that the answer it most certainly "yes." It is always the younger physicians who are just finishing up their training who are inquiring about whether a legal review of their physician employment contract is necessary.
It's hard to blame young physicians for being somewhat skeptical about the need for a contract legal review- after all, as they are finishing up residency or fellowship, they have come to trust the attendings they work with, and see them as mentors who will look out for their best interests. And that is certainly the case. However, it is important to realize that actual employment as a practicing physician is an entirely different animal than the highly-regulated world of residency and fellowship. Such training programs are government-funded, and are meant to provide young physicians with the training and experience they need to become practicing physicians. Employment as a practicing physician, on the other hand, occurs in the "real world" where everyone is looking out for their own best interests. In fact, the hospital or practice personnel young physicians deal with when seeking a new job are obligated to protect the best interests of the entities they work for when they make an employment offer. And you wouldn't expect anything different. Picture yourself joining a private group that will one day offer you partnership- would you want to be a partner in a group that hands out freebies and doesn't protect itself? I doubt it.
So if they're protecting the employer's best interests first, there is no room for them to be looking out for yours. This isn't to say they are out to intentionally offer you a bad deal, or try to compromise you in some way. But when they tell you not to worry about the terms of your contract because it's all "just standard language," you should not simply take their word for it and stop there. What does that mean anyway? "It's all just standard language"? That isn't very descript or helpful when you're looking out for your own legal and financial well-being and trying to understand what your obligations are under the employment agreement.
I always encourage physicians to have their employment contracts reviewed by a lawyer, and specifically one experienced in physician contracts, because even though a potential employer may not be trying to do you any harm under your contract, they are not working to protect your best interests- they're protecting their own.
Click here to learn how we help our physician clients, or contact Leigh Ann O'Neill at loneill@lauthoneill.com.
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In a survey completed by WebMD in 2012, physicians fessed up to their dissatisfaction in their current jobs. In fact, only 23% of surveyed physicians said, if they had to do it all over again, they would return to their current practice setting. What's more, almost half of surveyed physicians said they feel their compensation is unfair. I personally found these results to be somewhat surprising. I was surprised by these numbers because, in my mind, physicians, of all professionals, seem to be in the best position to choose the job they want, and to receive the compensation they feel is fair. After all, we often hear that there are gaping physician shortages, especially in certain regions of the country. So why then are more physicians not able to say they are happy in their current jobs and with their current pay? One possible explanation is that physicians are often hasty in accepting their first job offer. Not only are physicians typically under immense pressure to pay off incredible student loan debt, but they are also often hesitant about delving into the contract negotiation process. These reasons sometimes lead to premature acceptance of a job that will certainly pay the bills, but may not offer exactly what the physician truly wants out of his or her job.
A second explanation is that when young physicians enter the world of practicing, they have not yet been exposed to various practice settings or certain employment arrangement possibilities. After all, they've been slaving away as residents and fellows for the past few years, and pretty much any employment arrangement is going to look better than what they're used to. So it's easy to see why young physicians are quick to accept any job offer that includes a salary with 6 numbers.
While it might be comfortable for young physicians to accept a job in the same practice setting they're used to after their training, or it might seem to make the most sense to accept a job in the completely opposite practice setting (i.e., going from academic to private), I would encourage residents and fellows to take a broad look at the various different practice settings available before choosing one. It may end up that the same academic setting they're used to is a great match for them, or shifting to a smaller setting may be the right move, but it's impossible to know until you get a feel for the variety. It is also hugely important to have a detailed legal review completed of your contract. Given that most physicians are entering an employment setting with an employer they have not yet worked for, it is important to be sure that you have the maximum legal protection in case the job doesn't turn out as hoped.
For more information on how a physician agent can assist in the physician job search process, please visit us at www.lauthoneill.com.
When physicians are in residency and fellowship training, and that final year starts to creep up on them, their minds start reeling about the task ahead: finding that perfect job. It can be daunting knowing that this process is going to take up much of your free time (to the extent you have any to begin with), and knowing that the employers have done this thousands of times, and you’re just learning about the job search process. It’s easy to feel like you will end up with the short end of the stick. In embarking on the job search process, keeping a few simple tips in mind can go a long way. First, it is crucial that you have a firm grasp on what is important to you in your next job. For many physicians, the market can be flexible and may include great perks. But you can’t take advantage of those perks if you don’t have a thorough understanding of what aspects of an employment arrangement are most important to you. Second, it is important to realize the power of obtaining more than one job offer. By locking down at least 2 contracts, you can gain enormous leverage, and you will be able to clearly see what the market has to offer. Third, you have to guard your legal interests. The employers have attorneys hard at work making sure they operate within their budget and with an acceptable amount of legal risk, and so should you. Finally, you must delve into the specifics of a potential employer to gain a close understanding of any hidden concerns. The last thing you want to do after completing your training is walk into a practice or hospital department that is suffering under failed leadership or struggling financials.
With the help of a physician agent who you can rely on throughout the process, your job search doesn't have to be daunting or burdensome. An agent can take care of all the tedious legwork for you. To learn more, visit www.lauthoneill.com.
In my years as a health care lawyer, I have reviewed many physician employment contracts for clients. I have also worked for hospitals and other employers in drafting the offers they make to physicians. This experience has given me the benefit of knowing both sides' angles in this process.
After a long and laborious job search process, the acceptance of a physician's first employment offer is often a foregone conclusion. Unfortunately, not only do many physicians take the first set of terms offered to them, but many physicians do not seek legal advice at all. After seeing how incredibly different the second version of a contract can be from the first, I cannot urge physicians enough to hire someone to do this important work on their behalf.
The makings of a good and fair physician employment contract include balanced terms, fair market value compensation, and benefits such as health, life and disability insurance, and reimbursement for various typical business expenses. Of course this list is not inclusive, but only mentions some of the points a physician lawyer will be looking for when reviewing an employment agreement.
The "take-home" point for physicians, especially those straight out of residency or fellowship, is that having a legal review of your employment offer will pay for itself many times over. New physicians often don't take advantage of the bargaining power they have, and a formal legal review can provide exponential benefits.
I founded Lauth O'Neill Physician Agency because my professional and personal experiences taught me there is a need for physician agents. Not only do physicians benefit from having someone in their corner, looking out for their interests, but they also need a "go to" person who can take on many of the tedious tasks that come in searching for a new job.
In my experience as a health care attorney, and combined with being married to a physician, I have naturally crossed paths with many physicians. Many of them are at the beginning of their careers, and once they receive a job offer, they often ask me if it is necessary to have a lawyer look at the employment agreement. My answer is always a resounding "YES!" And often times, I perform the legal analysis myself. I have worked on both sides of physician employment. And after serving hospitals and other group practices as my clients, I am acutely aware of what employers do to make a physician employment contract extremely favorable to themselves. This, of course, often means the contract is unfavorable to the physician in certain ways. Not to mention, they almost never offer compensation and benefits at the levels trained physicians can expect based on national benchmark data. So yes, the need for physicians to have their employment offers reviewed by a lawyer has always been very clear to me.
What I had not experienced until recently was the immense amount of time and effort that goes into finding and securing a physician's ideal employment arrangement. In assisting my husband in his recent job search, I gained an intimate understanding of numerous steps that go into a successful physician job search. First, locating the opportunities that fit your professional desires, then communicating with the potential employers to let them know you're interested and qualified, and interviewing multiple times with the same folks- this is only the beginning of the process. Once an offer is made, then the hours spent on this task really start to climb. Physicians not only need a legal review of each offer completed, but they must also endure what seems to be endless back-and-forth with the potential employers to ensure they receive the compensation, benefits, and terms they have earned.
In talking with my husband's colleagues about the trials and tribulations of their job search processes, the rhetorical question has often been posed: "Can't I just pay someone to do this for me?" I only had to hear that question once before I recognized the need for physician agents.
As a physician agent, it is my goal to do all that is necessary to make my clients' job search not only successful, but as little of a burden to them as possible. Therefore, I provide our Premier Opportunity service so that physicians can simply tell me what sort of job they are looking for, and in what region, and I will go to work finding their options. Seeing the physician's job search process through to the end, the Premier Opportunity service includes every crucial step that allows physicians to find and shape their ideal employment arrangement. I am excited to make each next clients' success my priority.
Call: (317) 979-0081 | Email: lklauth@lauthoneill.com