Podcasts about contract diagnostics

Join us in this insightful episode as we delve into the 2024 MGMA DataDive, the gold standard for physician compensation data. Our guest, Jon Appino, the driving force behind Contract Diagnostics,  will explore the latest trends in physician and APP compensation, the impact of inflation, specialty disparities, geographical variations, and the productivity paradox. We'll also discuss the growing importance of quality measures in compensation, challenges faced by hospitals, and strategies for effective employment contract negotiations. Jon Appino has been the driving force behind Contract Diagnostics since 2011, where he leads a dedicated team on a mission to empower physicians with the knowledge, tools, and confidence to negotiate robust employment contracts and secure the best compensation packages. He discusses the KevinMD article, "2024 MGMA DataDive: Unveiling key trends in physician compensation." Our presenting sponsor is DAX Copilot by Microsoft. DAX Copilot, by Microsoft, is your AI assistant for automated clinical documentation and workflows. DAX Copilot allows physicians to do more with less and turn their words into a powerful productivity tool. DAX Copilot automates clinical documentation—making it available in the EHR within minutes—and clinical workflows, including referral letters, after-visit summaries, style and formatting customizations, and more. 70 percent of physicians who use DAX Copilot say it improves their work-life balance while reducing feelings of burnout and fatigue. Patients love it too! 93 percent of patients say their physician is more personable and conversational, and 75 percent of physicians say it improves patient experiences. Discover AI-powered solutions for clinical documentation and workflows. Click here to see a 12-minute DAX Copilot demo. VISIT SPONSOR → https://aka.ms/kevinmd SUBSCRIBE TO THE PODCAST → https://www.kevinmd.com/podcast RECOMMENDED BY KEVINMD → https://www.kevinmd.com/recommended GET CME FOR THIS EPISODE → https://www.kevinmd.com/cme I'm partnering with Learner+ to offer clinicians access to an AI-powered reflective portfolio that rewards CME/CE credits from meaningful reflections. Find out more: https://www.kevinmd.com/learnerplus

We dive into navigating stipend structures for final-year medical residents with insights from Jon Appino, the CEO of Contract Diagnostics. He shares expert advice on what to consider when evaluating stipend offers, understanding repayment clauses, negotiating terms, and safeguarding your future salary. Learn how to approach early job commitments, manage non-compete clauses, and leverage negotiation tactics to secure the best outcome as you prepare for your fellowship or attending role. Jon Appino has been the driving force behind Contract Diagnostics since 2011, where he leads a dedicated team on a mission to empower physicians with the knowledge, tools, and confidence to negotiate robust employment contracts and secure the best compensation packages. He discusses the KevinMD article, "Navigating stipend offers: a resident's question." Our presenting sponsor is DAX Copilot by Microsoft. Do you spend more time on administrative tasks like clinical documentation than you do with patients? You're not alone. Clinicians report spending up to two hours on administrative tasks for each hour of patient care. Microsoft is committed to helping clinicians restore the balance with DAX Copilot, an AI-powered, voice-enabled solution that automates clinical documentation and workflows. 70 percent of physicians who use DAX Copilot say it improves their work-life balance while reducing feelings of burnout and fatigue. Patients love it too! 93 percent of patients say their physician is more personable and conversational, and 75 percent of physicians say it improves patient experiences. Help restore your work-life balance with DAX Copilot, your AI assistant for automated clinical documentation and workflows. VISIT SPONSOR → https://aka.ms/kevinmd SUBSCRIBE TO THE PODCAST → https://www.kevinmd.com/podcast RECOMMENDED BY KEVINMD → https://www.kevinmd.com/recommended GET CME FOR THIS EPISODE → https://www.kevinmd.com/cme I'm partnering with Learner+ to offer clinicians access to an AI-powered reflective portfolio that rewards CME/CE credits from meaningful reflections. Find out more: https://www.kevinmd.com/learnerplus

Are you a physician considering a side hustle? Recent statistics show that 36% of physicians engage in outside income activities, driven by salary cuts and the desire for financial diversification. Understanding the terms of your contract is crucial, as it may contain restrictions on outside activities. In this discussion, we explore the benefits of side hustles, potential income strategies, and how Contract Diagnostics can assist you in navigating your employment contract to ensure compliance while maximizing your earning potential. Reach out to us for expert guidance! Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

In the complex world of physician compensation, deciding between a low base salary with a lower patient cap or a higher salary with a higher patient cap can be challenging. Jon Appino dives into the factors that influence this decision, including long-term career goals, financial stability, and market conditions.  Understanding the implications of each structure is crucial for making an informed choice that aligns with your personal and professional aspirations. If you're navigating a new position and need expert guidance, reach out to us for tailored advice and support! Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

As a recently graduated family medicine physician, navigating the choice between private practice and hospital employment can be complex. Understanding the differences between W2 and 1099 structures is crucial for your career path. This guide explores the benefits and drawbacks of each option, considering factors like tax implications, scheduling flexibility, and family needs. Discover how to align your employment choice with your personal goals, whether you prioritize benefits, retirement plans, or the flexibility of independent contracting. Reach out for expert advice tailored to your unique situation! Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

In this episode of Coffee and Contracts, Jon Appino from Contract Diagnostics shares insights on current trends in physician employment contracts. With over 12 years of experience, Jon discusses shifts in various specialties, highlighting significant salary surges and changes in demand. He emphasizes the importance of staying informed about real-time trends rather than relying solely on published data. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

In this update, we explore new projections for physician shortages by 2036, revealing a significant gap between the demand for healthcare providers and the available supply. With a potential deficit ranging from 13,500 to 86,000 physicians, understanding the trends in primary care and specialty fields is crucial for current and future physicians. This discussion emphasizes the importance of negotiating compensation and being informed about market demands. If you need assistance with your compensation strategy or employment discussions, reach out to us for expert guidance. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

In this episode of Coffee and Contracts, Jon shares an inspiring success story from an employed urologist who navigated a challenging call coverage situation to secure better compensation. Learn how collaboration among physicians can lead to financial wins for both doctors and hospitals. If you're a physician seeking guidance on contract reviews, compensation structures, or call agreements, reach out to Contract Diagnostics for personalized support. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

In this episode of Coffee and Contracts, Jon from Contract Diagnostics dives into the essential topic of balancing risk in employment agreements. He explores how to evaluate the rewards and risks associated with contracts, including non-compete clauses, salary negotiations, and benefits like vacation time. Gain insights into understanding your risk tolerance and making informed decisions during contract negotiations. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

In this episode of Coffee and Contracts, Jon dives into essential topics surrounding outside activities, restrictive covenants, and non-compete agreements. He shares valuable insights from client feedback and discusses the complexities of social media use for physicians, including potential conflicts with employer policies. Learn how to navigate these challenges, ensure compliance, and leverage social media effectively while safeguarding your career. Join us as we explore contract reviews and compensation analysis tailored for healthcare professionals. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

As September unfolds, now is the perfect time to dive into your job search. With favorable weather conditions, it's an ideal moment for site visits, contract reviews, and securing letters of intent. Discover key strategies for negotiating your job offers and gaining professional insights to customize your approach.  Whether you're visiting community centers or seeking expert career coaching, we're here to help you navigate every step of your journey. Reach out to learn more about how we can support you in securing your ideal position. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

In this discussion, Jon from Contract Diagnostics addresses common questions about student loan reimbursement in physician contracts and the implications of not having student loans. Learn how to navigate reimbursement structures, negotiate incentives if you're not receiving loan help, and understand the intricacies of MGMA data for salary negotiations. Whether you're dealing with student loans or compensation benchmarks, get insights on how to advocate for yourself effectively in your employment contracts. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

In this session, Jon from Contract Diagnostics discusses the nuances of supervising nurse practitioners (NPs) and physician assistants (PAs). He covers essential aspects such as the impact on your role, the need for clear supervision agreements, compensation considerations, and the importance of understanding contract terms related to staff supervision. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

Join Jon from Contract Diagnostics as he navigates the job search process for physicians during interview season. He covers essential topics including when to start looking for positions, evaluating multiple offers, site visit tips, and understanding employment contracts. Get insights on how to effectively assess job opportunities and negotiate terms to ensure a successful career transition. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

Join us as we explore two compelling case studies featuring Jon Appino, the driving force behind Contract Diagnostics. In the first, three interventional radiologists, earning over $700k but under-compensated by market standards, sought Jon's expertise to update their outdated eight-year pay structure. Despite paying their own malpractice insurance and having no paid leave, these highly productive physicians successfully negotiated fair compensation, increased profit sharing, and better terms for malpractice insurance. The second case study highlights a group of general surgeons at a small community hospital who faced similar challenges. With Jon's strategic guidance, they secured significant pay increases, a $50,000 annual quality bonus, and updated renegotiation terms, setting a precedent for future physician contract negotiations. Jon Appino has been the driving force behind Contract Diagnostics since 2011, where he leads a dedicated team on a mission to empower physicians with the knowledge, tools, and confidence to negotiate robust employment contracts and secure the best compensation packages. He discusses the KevinMD articles, "A case study: How group negotiations led to better contracts for interventional radiologists" and "A group of 4 successful surgeons negotiate better contracts: a case study." SUBSCRIBE TO THE PODCAST → https://www.kevinmd.com/podcast RECOMMENDED BY KEVINMD → https://www.kevinmd.com/recommended GET CME FOR THIS EPISODE → https://www.kevinmd.com/cme I'm partnering with Learner+ to offer clinicians access to an AI-powered reflective portfolio that rewards CME/CE credits from meaningful reflections. Find out more: https://www.kevinmd.com/learnerplus

Today, Jon from Contract Diagnostics speaks on recent news that has brought a major change: the FTC's nationwide ban on non-competes has been overturned. This means the regulation that aimed to eliminate non-compete agreements for all workers, including physicians, is no longer in effect. While some states have adjusted their rules, the nationwide ban is suspended, and current non-compete agreements remain valid until altered by your employer or contract. In light of this, we've put together a checklist to help you navigate the essentials of your non-compete agreement. This includes understanding the time and geographic restrictions, potential buyout options, and negotiation tips. If you need guidance on how these changes affect you or help with your contract, feel free to reach out for a consultation. Stay tuned for more updates and checklists! Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

Join us for a comprehensive Q&A session at Contract Diagnostics, where we address crucial questions about hiring PAs and nurse practitioners, navigating private practice contracts, and negotiating terms during transitions. Discover expert advice on salaries, benefits, and making informed decisions about your medical career. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

In this episode, we dive into the most pressing questions from our audience about medical compensation trends, including regional comparisons between anesthesiologists and CRNAs, the impact of inflation on RVUs, and the benefits of including annual salary increases. Join us as we provide concise answers and insights into how various medical specialties are navigating these challenges. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. Jon discusses how to maximize vacation time and navigate employer leave policies. He covers the nuances of paid and unpaid leave, the impact of burnout, and how to handle PTO rollover, accrual, and payout.  Jon emphasizes the importance of understanding your employer's vacation policies and negotiating for the best terms in your physician contract. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. Join Jon as he delves into the complexities of compensation structures, highlighting why understanding your contract is crucial. From salary versus bonuses to RVU calculations and proration, Jon explains how different compensation models—whether salary, shift rates, or collections—can impact your earnings.  Discover the importance of clear contract terms, the role of data sets in fair market value, and how benefits like vacation and retirement plans can affect your overall compensation. Tune in for essential insights to navigate and negotiate your compensation effectively. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. Jon from Contract Diagnostics addresses a physician's query about the implications of their employer losing a hospital contract, detailing how to prepare and what to expect during such transitions in hospital-based employment. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. Today, Jon from Contract Diagnostics explains the process of transitioning to a new job or taking your first job. Key steps include defining your desired opportunity, assessing your current situation (like non-compete clauses and insurance costs), and understanding termination notices and benefits.  He emphasizes the importance of setting parameters with your family, proactively seeking opportunities, and leveraging recruiters. Once you receive offers, he advises conducting multiple interviews, site visits, and negotiating terms before signing contracts.  Finally, he highlights the importance of understanding the credentialing process, potential delays, and the impact of employer contracts with hospitals. For personalized assistance, visit Contract Diagnostics. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. Today, Jon Appino talks about two stories from clients to illustrate this. First, a physician didn't review her current contract before accepting a new job. She thought she had everything covered but overlooked a policy that cost her nearly $100,000 in bonus pay. This highlights the need to review all contracts thoroughly. Second, another physician accepted a job offer with a risky salary agreement. Despite our warnings, he signed the contract and now finds himself unhappy and potentially owing a substantial repayment. These stories emphasize the importance of understanding every detail of your contract, both when leaving a current job and accepting a new one. Contracts are complex, and thorough review can prevent costly mistakes. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. In this episode of Contract Diagnostics, Jon discusses the importance of regularly reviewing compensation data with a case study involving a physician named David. David, who annually reviews his compensation using Contract Diagnostics' tools, faced a challenge this year when his employer refused to increase his compensation despite data suggesting he deserved an 8% raise. The employer cited a different data set, leading to a standstill.  Jon emphasizes the need for transparency and routine discussions between employers and employees about compensation reports. He advises asking for detailed reports to understand discrepancies and considering the broader context of compensation, including factors like call duty, case volume, and administrative tasks. Jon also highlights the value of having competing job offers as leverage in negotiations. If faced with resistance, Jon recommends persisting in requesting transparency and utilizing resources like Contract Diagnostics for support. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. Join Jon as he dives into the nuances of employer compensation structures and the importance of understanding when and how these changes occur. Learn how to proactively engage in compensation discussions, leverage the latest MGMA data, and craft a compelling case for your value. Whether you're negotiating a new contract or preparing for an upcoming review, this episode provides essential insights for maximizing your compensation package. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. Hey everybody, it's Jon again with Contract Diagnostics. Today, we're diving into the topic of physician burnout and how it's impacting contracts. Employers are now implementing various strategies to combat burnout, such as increased vacation time, support programs for physicians and their families, and more structured work hours. It's crucial to have thorough discussions about your work schedule and support options with your employer. For any contract-related advice, reach out to us at Contract Diagnostics.  Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. Jon from Contract Diagnostics provides an update on the FTC's non-compete rulings as of June 5th. The FTC recently voted to eliminate non-competes in the United States, though the decision faces legal challenges. While this affects around 30 million Americans, only about 500,000 to 600,000 are healthcare providers. Jon outlines key dates and timelines for ongoing legal proceedings and emphasizes the importance of renegotiating contracts proactively. He advises physicians to understand their current agreements and prepare for potential changes, while employers should focus on retaining top talent. For more information and assistance, Jon encourages reaching out to Contract Diagnostics. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. In this episode, Jon from Contract Diagnostics addresses a physician's question about employment contracts with contracting entities. The discussion centers on hospitalists, specifically nocturnists, and the implications if a contracting entity's agreement with a hospital ends.  Jon emphasizes the importance of understanding contract details, including the duration of contracts, non-compete clauses, tail insurance, and potential transitions to new employers. He highlights the need for thorough contract reviews and asking the right questions to ensure stability and clarity in employment situations.  Jon reassures listeners that Contract Diagnostics is available to help with any contract-related concerns and provides resources for further inquiries. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. Hey everyone, Jon Appino from Contract Diagnostics has a quick message on transitioning between full-time and part-time work. We assist many physicians in navigating job shares and shifts from a typical 40-hour week to reduced hours. It's crucial to understand how these agreements differ, especially in terms of allocated clinical and admin hours, which should be clearly documented and prorated in your contract.  Additionally, consider how your call schedule, compensation, and benefits might change with part-time work. Ensure your quality bonuses and other incentives are appropriately adjusted, and be aware of any changes to your health insurance, retirement plans, and CME allowances. Always have your contract professionally reviewed to cover all bases. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. In this episode of Contract Diagnostics, Jon breaks down the latest MGMA data set for 2024. Join us as we explore the initial findings and what they mean for healthcare providers. With 211,000 respondents, the data offers insights into compensation trends for primary care, surgical specialists, and non-surgical specialists.  Jon discusses the implications of these trends in relation to inflation, workload, and staffing challenges. Learn how to interpret and apply this data to your own situation, and discover the importance of a custom analysis for accurate insights. Tune in to stay informed and make the most of the new MGMA data. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. In this episode of Contract Diagnostics, Jon delves into the critical topic of conflicts of interest, especially relevant in physician employment contracts. Learn why it's essential to be aware of potential conflicts, from financial disclosures to external activities, and how they can impact your career and personal information.  Jon shares insights on the importance of transparency, the risks of data misuse, and tips on how to identify and navigate conflicts of interest. Tune in to ensure you're making informed decisions and safeguarding your professional integrity. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. The FTC issued it's final rule on noncompetes, but multiple lawsuits and challenges have been filed. Jon Appino with Contract Diagnostics talks about how this may affect physicians, but acknowledges that many things may change before it makes its way to implementation. We also talk about how noncompetes may or may not affect compensation and nonmonetary aspects of contract negotiations. And finally, Jon talks more about fair market value and puts to bed the myth that there is a magic number that employers must use when putting forth contracts to their physicians.  You can get a free 15-minute consultation with Contract Diagnostics for yourself or a 30-minute consultation for your group. Go to www.ContractDiagnostics.com to learn more. 

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. Jon from Contract Diagnostics dives deep into the concept of fair market value (FMV) and why it matters for physicians. He unpacks the complexities of FMV, how it's determined, and why there's no one-size-fits-all answer.  Learn about the different factors that influence FMV, from regional data to specific job duties, and discover how hospitals and employers might define it differently. Jon also discusses the importance of questioning and understanding these valuations to ensure you're getting a fair deal. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. Hi everyone, it's Jon with Contract Diagnostics, providing a quick update on non-competes, a hot topic lately. We're in a waiting period for the new FTC rule, anticipated around early July. While it's not official yet, now is the perfect time to discuss non-competes with your employer.  With potential changes on the horizon, it's crucial to renegotiate terms to ensure fair compensation and optimal working conditions. Engage in conversations about staffing, efficiency, and compensation to stay ahead.  Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. Welcome to another insightful episode at Contract Diagnostics, where Jon dives into the complex world of physician contracts and the common pitfalls they face.  Today, Jon reflects on a recent conversation with a physician who misunderstood crucial elements of his contract, leading to significant financial loss. He highlights the risks of outdated electronic health record systems and the impact on physicians' efficiency and reimbursement. Jon emphasizes the importance of clear, informed contract negotiations and proactive communication with employers to rectify issues and optimize working conditions.  If you're a physician facing contract uncertainties or system inefficiencies, tune in for expert advice and support at Contract Diagnostics. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. In this episode Jon delves into the significant ransomware attack on Ascension, affecting its system and 35,000 affiliated providers. We explore the repercussions for healthcare providers, from reverting to paper notes to potential impacts on scheduling and income.  The FBI and authorities are actively investigating the cause and next steps. Amidst uncertainty, we discuss the importance for physicians to understand their employer's policies and the implications for compensation, especially during system outages.  At Contract Diagnostics, we're here to assist with navigating these challenges, offering insights and support through our free 15-minute web inquiries. Stay informed and prepared with us as we monitor the situation. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

Jon from Contract Diagnostics emphasizes the critical importance of proactively managing one's financial future, especially for physicians. He highlights the significance of maintaining a strong income as the cornerstone for achieving financial independence, early retirement, and the ability to support charitable causes. Jon provides insights on the necessity of regular compensation reviews to ensure fair pay and discusses strategies for negotiating better terms in employment contracts. His advice extends beyond mere salary discussions, urging physicians to consider all aspects of their contracts to enhance their financial stability and overall job satisfaction. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

Jon from Contract Diagnostics discusses the potential impacts of a new regulation banning non-compete agreements, particularly focusing on physicians and Wall Street professionals. He delves into the broader implications for 30 million U.S. employees currently bound by non-competes, emphasizing the opportunity for physicians to renegotiate their contracts. The conversation covers the urgent need for financial firms to restructure contracts, the unique challenges for low-income workers, and strategic advice for physicians to proactively address their contract terms in anticipation of changes.  Jon encourages a comprehensive review of contract details beyond just compensation, advising on negotiation tactics and the importance of understanding contract renewal terms and malpractice insurance obligations. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

Jon from Contract Diagnostics emphasizes the effectiveness of group negotiations among physicians and announces the launch of the Group Negotiation Division. He shares a success story of a group of surgeons renegotiating their compensation and highlights the complexities involved in the process. Jon encourages physicians to seek assistance in navigating group negotiations to ensure fair market value for their services. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

Jon from Contract Diagnostics provides an update on non-compete agreements following a recent FTC vote. While the vote leaned towards a national ban on non-competes, challenges and lawsuits are expected. Jon advises physicians to stay informed and review their contracts. He suggests utilizing this time to renegotiate contracts and discuss compensation with employers. Contract Diagnostics is available to assist physicians in navigating these changes. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

Many of us are told that our employer has one contract for a group of physicians and it is nonnegotiable. But what if the entire group collectively negotiated for changes? Groups can negotiate for salary, of course, but they can also request improvements to staffing, equipment, time off or other things.   Jon Appino with Contract Diagnostics talks about the impactfulness and success of collective negotiations. He has started an entire division to focus on this type of bargaining and has even hired folks who previously represented "the other side" to increase physicians' chances of success in negotiations.  To learn more about Jon and his team, go to www.ContractDiagnostics.com. You can also listen to his podcast Coffee and Contracts right here on Financial Residency. 

Jon from Contract Diagnostics discusses the disparity in contract offers for physicians within the same organization but different divisions. He emphasizes the importance of clarifying decision-making processes and reasons behind rejections when negotiating compensation. Jon advises physicians to seek multiple offers, understand policies, and persist in negotiations to achieve favorable outcomes.  He highlights Contract Diagnostics' role in providing data-driven guidance and support throughout the negotiation process. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

Jon from Contract Diagnostics discusses the FDA's evolving role in regulating AI in healthcare. As AI-powered medical devices become more prevalent, the FDA must adapt its processes to ensure safety and efficacy. Jon highlights the potential impact of AI on physician workflows and suggests that employers will need to update policies accordingly. He emphasizes the importance of staying informed about AI advancements and encourages annual policy reviews.  Jon is optimistic about AI's potential to enhance productivity in healthcare and invites further discussion on the topic. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

Jon from Contract Diagnostics discusses the impact of hospital and clinic closures on employees, comparing the situation to retail franchise closures like Kmart or Bed Bath & Beyond. He highlights potential outcomes for physicians, such as reassignment or termination, based on the terms of employment contracts. Jon emphasizes the importance of understanding contract stipulations regarding termination pay, benefits, notice periods, non-compete clauses, and tail insurance. He advises healthcare professionals to be fully aware of their contract details at signing to prepare for possible closures, terminations, or relocations, ensuring they know their options and risks.  Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

  Jon from Contract Diagnostics recently attended the American College of Cardiology's annual convention in Atlanta, a large and engaging event where he provided talks on contract renegotiation and changes in compensation structures post-pandemic, specifically for cardiologists. Amid the pleasant setting of Atlanta, Jon, joined by colleagues Anu, Jennifer, and Selena, enjoyed interacting with many cardiologists at their booth and during presentations.  They addressed various concerns related to fair compensation, leveraging their experiences to offer tailored advice for renegotiating contracts and understanding compensation dynamics. Jon emphasized the difference between earning a high income and being fairly compensated, citing an analogy with football player Patrick Mahomes to highlight the point.  Contract Diagnostics aims to educate and assist physicians in navigating their careers and contracts effectively, offering free educational resources and personalized consultations to help physicians achieve fair compensation and job satisfaction. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

Jon from Contract Diagnostics highlights the risks associated with physician employment contracts, particularly emphasizing a case with a stark imbalance in termination notice periods and the risks during a probationary period. Physicians face unfair termination clauses, such as needing to provide 120 days' notice to leave, while employers can terminate with only 30 days' notice. Additionally, during a six-month probationary period, employers can terminate immediately without cause. Jon advocates for mutual termination notice periods and suggests that contracts should offer safeguards like severance packages or compensation for unworked notice periods to mitigate the physician's risks. He underscores the importance of reviewing employment contracts carefully to avoid costly nuances and ensure they meet industry standards.  Contract Diagnostics offers thorough reviews and educational resources to help physicians navigate these complex agreements. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

The summary provides insights into contract breaches, advising caution and adherence to contractual obligations. It outlines potential consequences, including termination, financial liabilities, and legal action, underscoring the importance of seeking legal counsel. Emphasizing the need for understanding contract terms, it encourages individuals to consult Contract Diagnostics for guidance on interpretation and negotiation strategies. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.Contrac

The MGMA (Medical Group Management Association) data is often considered the gold standard for physician compensation analysis, but it has several limitations. Firstly, the data is delayed, with current data based on previous years' figures. Secondly, the sample size, though large, may not fully represent the physician population. Additionally, there's selection bias as certain physicians may not report their salaries. The data doesn't differentiate between full-time and part-time roles or consider variations in hourly or shift-based work. It also doesn't accurately represent value-based pay, conversion factors, or tiered structures for compensation.  Despite its popularity, MGMA data alone may not provide a comprehensive picture of fair market value for individual physicians, as each situation is unique. While valuable, it's important to consider the individual story and context when determining compensation. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

In this episode, Jon from Contract Diagnostics addresses the importance of early financial management for physicians, residents, and fellows. He emphasizes the significance of maximizing compensation, understanding taxes, and balancing savings with enjoying life experiences. While Contract Diagnostics doesn't provide financial or tax advice, Jon offers valuable insights and encourages listeners to seek professional guidance for tax planning and financial management. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

This episode is sponsored by PearsonRavitz– helping physicians protect their most valuable assets.  Jon from Contract Diagnostics shared the successful renegotiation of a family practice sports physician's contract, extending it for four years with improved terms.  Through thorough analysis and communication with the employer, they reached a mutually beneficial agreement, addressing compensation, retention bonuses, RVU rates, staffing issues, time away, reporting problems, and equipment needs. Despite some delays, both parties were satisfied with the outcome.  Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com