Contract Reviews for Doctors [Podcast]

One of the many services we provide our clients is a financial review of prospective employment contracts. Often, our doctors know what to expect for income but are not so sure about how other benefits compare and which benefits they really need. Today we’ll discuss these other benefits that are just as important as income when comparing contracts.

Contracts can be confusing with their legal jargon and dozens of pages. We strongly recommend you have a professional look through the contract before you sign. MD Financial can dig into your employment contract offers to create a grid that gives you a clear comparison of your options without flipping through a bunch of pages. The contract grid compares:

Salary
Bonuses
Side gig restrictions
Relocation expenses
Continued Medical Education (CME) stipend/reimbursement
Paid time off
Benefits including retirement, disability and life insurance
Malpractice insurance
Non-compete/non-solicit restrictions
Opportunities for student loan forgiveness
Partnership opportunities
- For our doctors looking at these types of opportunities, we will look at both the short-term and long-term income and benefits opportunities as well as the funds needed to buy into the partnership.

It is important to note that while we cover a lot of items in a job contract, this is a financial review only. However, we do have an attorney we can recommend to you that has worked with many doctors in the past for a full legal review. If you’d like us to look over any contracts or would like us to send you the contact information for our recommended attorney, feel free to email us at info@mdfinancialadvisors.com.

Listen on Apple Podcast, Google Podcast or Spotify

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Remember that you can send us any questions or potential topics at: Info@MDFinancialAdvisors.com

Katherine Vessenes, JD, CFP®, is the founder and CEO of MD Financial Advisors who serve 500 doctors from Hawaii to Cape Cod. An award-winning Financial Advisor, Attorney, Certified Financial Planner®, author and speaker, she is devoted to bringing ethical advice to physicians and dentists. She can be reached at Katherine@mdfinancialadvisors.com.