{"id":890,"date":"2023-01-25T07:46:13","date_gmt":"2023-01-25T07:46:13","guid":{"rendered":"https:\/\/www.mhrcm.com\/blog\/?p=890"},"modified":"2024-10-04T11:42:59","modified_gmt":"2024-10-04T06:12:59","slug":"tips-for-effective-contract-negotiation-for-physician-practices","status":"publish","type":"post","link":"https:\/\/www.mhrcm.com\/blog\/tips-for-effective-contract-negotiation-for-physician-practices","title":{"rendered":"Tips for Effective Contract Negotiation for Physician Practices"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"890\" class=\"elementor elementor-890\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-acdf3bf elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"acdf3bf\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-1fdb8516\" data-id=\"1fdb8516\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b59573d elementor-widget elementor-widget-text-editor\" data-id=\"b59573d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>By\u00a0 <a href=\"https:\/\/www.mhrcm.com\/author\/leo-john\" target=\"_blank\" rel=\"noopener\">Leo John<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c523929 elementor-widget elementor-widget-text-editor\" data-id=\"c523929\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tA Physician\u2019s job\/service comprises various responsibilities in the stack. Among that, the most important and even imperative part is the Physician Contract. However, here\u2019s where that many Physicians are least comfortable with. Many Physicians are tempted by the attractive offer to accept it and get to work. However, this could lead to loss of compensation, an undesired working environment and missing opportunities. \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a9960bd elementor-widget elementor-widget-html\" data-id=\"a9960bd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t <script type=\"application\/ld+json\">  \r\n\r\n{  \r\n\r\n  \"@context\": \"https:\/\/schema.org\",  \r\n\r\n  \"@type\": \"FAQPage\",  \r\n\r\n  \"mainEntity\": [{  \r\n\r\n    \"@type\": \"Question\",  \r\n\r\n    \"name\": \" Why Is Contract Negotiation Important for Physician Practices? \",  \r\n\r\n    \"acceptedAnswer\": {  \r\n\r\n      \"@type\": \"Answer\",  \r\n\r\n      \"text\": \" Contract negotiation is important for physician practices to ensure that they receive fair compensation, favorable terms, and incentives that align with their goals and values. \"  \r\n\r\n    }  \r\n\r\n  },{  \r\n\r\n    \"@type\": \"Question\", \r\n\r\n    \"name\": \" What Are Some Key Strategies for Effective Contract Negotiation for Physician Practices? \",  \r\n\r\n    \"acceptedAnswer\": {  \r\n\r\n      \"@type\": \"Answer\",  \r\n\r\n      \"text\": \" Effective contract negotiation involves researching the market, understanding the practice\u2019s worth, preparing thoroughly, negotiating for fair compensation and incentives, and seeking legal advice. \"  \r\n\r\n    }  \r\n\r\n  },{  \r\n\r\n    \"@type\": \"Question\",  \r\n\r\n    \"name\": \" What Factors Should Physician Practices Consider When Negotiating Contracts? \",  \r\n\r\n    \"acceptedAnswer\": {  \r\n\r\n      \"@type\": \"Answer\",  \r\n\r\n      \"text\": \" Physician practices should consider factors such as reimbursement rates, scope of services, quality measures, patient volume, and any regulatory or legal requirements. \"  \r\n\r\n} \r\n\r\n      },{  \r\n\r\n    \"@type\": \"Question\",  \r\n\r\n    \"name\": \" How Can Physician Practices Prepare for Contract Negotiations? \",  \r\n\r\n    \"acceptedAnswer\": {  \r\n\r\n      \"@type\": \"Answer\",  \r\n\r\n      \"text\": \" Physician practices can prepare for contract negotiations by analyzing their financial and operational data, identifying their key priorities, and developing a negotiation strategy that aligns with their goals. \"  \r\n\r\n     } \r\n\r\n},{  \r\n\r\n    \"@type\": \"Question\",  \r\n\r\n    \"name\": \" What Role Does Legal Counsel Play in Contract Negotiations for Physician Practices? \",  \r\n\r\n    \"acceptedAnswer\": {  \r\n\r\n      \"@type\": \"Answer\",  \r\n\r\n      \"text\": \" Legal counsel can provide valuable guidance and protection during contract negotiations, helping to ensure that the terms of the contract are fair and align with the practice\u2019s interests. \"  \r\n\r\n     } \r\n\r\n \r\n\r\n \r\n\r\n  }]  \r\n\r\n}  \r\n\r\n<\/script> \t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c5ea82a elementor-widget elementor-widget-text-editor\" data-id=\"c5ea82a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tpositive negotiation and a careful review of the <b>Physician Contract <\/b>can make all this work differently! This article could change your career as a Physician , by acquiring all your needs during the Contract. Learn how to negotiate, what to look for in a Contract, and mistakes to avoid during negotiation.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7b8a1e6 elementor-widget elementor-widget-heading\" data-id=\"7b8a1e6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What Should Be Considered Before Negotiation?\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-830ec8c elementor-widget elementor-widget-text-editor\" data-id=\"830ec8c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tFor satisfactory working conditions, you must consider many things before you ever sit at the table. Initially, you have to determine what\u2019s most important to you, for instance, which is your priority, the right work-life balance, career advancements, and more one-on-one time with patients. Moreover, it\u2019s advisable to include the other stakeholders and decision makers in your life as well. \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7cedbe9 elementor-widget elementor-widget-text-editor\" data-id=\"7cedbe9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tYes, you\u2019re right! Not everything is negotiable. Of course, you\u2019re not going to get everything that you want. In fact, you\u2019re possibly going to need to make a list of priorities of what you actually need and what your deal makers and deal breakers are. \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4f47c67 elementor-widget elementor-widget-text-editor\" data-id=\"4f47c67\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tExperts recommend that you define your BATNA (Best Alternative To a Negotiated Agreement). This defines the minimum you are willing to accept. If you can\u2019t get your BATNA after negotiation, it means it\u2019s time to consider other options. \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f93c7e6 elementor-widget elementor-widget-image\" data-id=\"f93c7e6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"800\" height=\"400\" src=\"https:\/\/www.mhrcm.com\/blog\/wp-content\/uploads\/2023\/01\/physician-contracts-negotiation.webp\" class=\"attachment-full size-full wp-image-26248\" alt=\"Physician Contracts Negotiation\" srcset=\"https:\/\/www.mhrcm.com\/blog\/wp-content\/uploads\/2023\/01\/physician-contracts-negotiation.webp 800w, https:\/\/www.mhrcm.com\/blog\/wp-content\/uploads\/2023\/01\/physician-contracts-negotiation-300x150.webp 300w, https:\/\/www.mhrcm.com\/blog\/wp-content\/uploads\/2023\/01\/physician-contracts-negotiation-768x384.webp 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5869922 elementor-widget elementor-widget-text-editor\" data-id=\"5869922\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<strong>Ask the Right Questions<\/strong> \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6485223 elementor-widget elementor-widget-text-editor\" data-id=\"6485223\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tYou\u2019ll be an effective negotiator if you\u2019re well-informed before negotiation. So, take the time to learn as much as you can about the potential employer and the position, by asking a bunch of questions. Initially, you may have to get out of your comfort zone to do it. \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ce7567a elementor-widget elementor-widget-text-editor\" data-id=\"ce7567a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<strong>Here are Top Questions for You to Ask<\/strong> \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ef9bcba elementor-widget elementor-widget-text-editor\" data-id=\"ef9bcba\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul>\n \t<li>How is Compensation Structured?<\/li>\n \t<li>Is there a Base Salary Along with Incentives or Bonus?<\/li>\n \t<li>Is There a Non-Compete?<\/li>\n \t<li>If So, What are the Terms?<\/li>\n \t<li>What are the Schedule Expectations?<\/li>\n \t<li>Is Call Coverage Covered?<\/li>\n \t<li>If So, How Many Hours are Included in the Base Salary?<\/li>\n \t<li>What are all the Benefits offered?<\/li>\n<\/ul>\nThe Principal and Founder of Contract Diagnostics, Jon Appino, a Company that exclusively focuses on Reviewing <b>Physician Contracts<\/b>, stated that it\u2019s important to have an honest conversation with the Employer.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6293d11 elementor-widget elementor-widget-heading\" data-id=\"6293d11\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Effective Tips to Physician Practices Contract Negotiation <\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a623876 elementor-widget elementor-widget-text-editor\" data-id=\"a623876\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul><li>Know your worth<\/li><li>Signing your Offer Letter is Where You Begin your Negotiation<\/li><li>Read it properly<\/li><li>Seek a professional for guidance<\/li><li>Don\u2019t Let the Intricate Policies trick you<\/li><li>Don\u2019t undermine your primary objective<\/li><li>Always have a Backup Strategy<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-64aaf50 elementor-widget elementor-widget-heading\" data-id=\"64aaf50\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Determine If the Offer is Competitive\u00a0<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0071990 elementor-widget elementor-widget-text-editor\" data-id=\"0071990\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tIt\u2019s crucial to evaluate the Offer\u2019s Level of Competition before deciding whether to accept it (or make a counter offer). Insights on the patterns they are noticing among the Doctors they are staffing in your specialty and region can be shared by Lawyers, Companies, and Staffing Agencies like CompHealth that evaluate a lot of Contracts. Some businesses could also provide information on Comparative Pay from sources like MGMA. \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b193de4 elementor-widget elementor-widget-text-editor\" data-id=\"b193de4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tAccording to Jon Appino, \u201cWe can discuss trends that we detect over time and mix it with localized data.\u201d For instance, Boise is experiencing an outbreak of infectious disease as well as the formation of a new group. That\u2019s not the same as if there was an infectious disease in Boise and three people had recently left their jobs or would be retiring in five years. \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-44b9c0d elementor-widget elementor-widget-text-editor\" data-id=\"44b9c0d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h3> What to Contract Negotiate <\/h3>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-03a2a9b elementor-widget elementor-widget-text-editor\" data-id=\"03a2a9b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Depending on your personal priorities, you can decide what to negotiate. A Non-Compete may not matter to you if you only want to reside in the area for a short while. How a Signing Bonus is Refunded, how you can leave, and how malpractice is covered, might be of more relevance to you. The Non-compete provisions can be more significant to you as a Doctor who plans to settle down, create a home, and start a family.\u00a0<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6e8536f elementor-widget elementor-widget-text-editor\" data-id=\"6e8536f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2>How to Negotiate Physician Contracts<\/h2>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bc617ca elementor-widget elementor-widget-image\" data-id=\"bc617ca\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"400\" src=\"https:\/\/www.mhrcm.com\/blog\/wp-content\/uploads\/2023\/01\/how-to-negotiating-physician-contracts.webp\" class=\"attachment-full size-full wp-image-29367\" alt=\"How to Negotiating Physician Contracts\" srcset=\"https:\/\/www.mhrcm.com\/blog\/wp-content\/uploads\/2023\/01\/how-to-negotiating-physician-contracts.webp 800w, https:\/\/www.mhrcm.com\/blog\/wp-content\/uploads\/2023\/01\/how-to-negotiating-physician-contracts-300x150.webp 300w, https:\/\/www.mhrcm.com\/blog\/wp-content\/uploads\/2023\/01\/how-to-negotiating-physician-contracts-768x384.webp 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2443063 elementor-widget elementor-widget-text-editor\" data-id=\"2443063\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tNegotiating may introduce you to a new zone, basically out of your comfort zone but practically speaking, it\u2019s well worth the effort. You may feel awkward asking for any money. Let\u2019s see what experts say about their experiences during their negotiations. Dr. Thieszan opens up about his uncomfortable experience: \u201cI felt awkward asking for any more money, but in the 30 seconds it took, the Healthcare agreed to $20,000 as a Sign-on Bonus. Still, that was the best 30 seconds of awkwardness I ever spent.\u201d \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cff6bd3 elementor-widget elementor-widget-text-editor\" data-id=\"cff6bd3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tFrom the Physician\u2019s perspective, it\u2019s their responsibility to negotiate, but it\u2019s also their responsibility to keep in mind that there are several Do\u2019s and Don\u2019ts to consider. \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b19baf9 elementor-widget elementor-widget-text-editor\" data-id=\"b19baf9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<strong>Do: Make it Comfortable for the Employer<\/strong>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-84c751f elementor-widget elementor-widget-text-editor\" data-id=\"84c751f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tThe first and foremost thing is to make the <b>Physician Contract Negotiation<\/b> as Comfortable as possible for the Employer.  Ensure to check the following things: Does the Employer prefer Phone Calls or Emails for correspondence? Does the Physician perceive the Employer as being quite forthright or does the Employer like to be a little less so during Negotiations? In any case, you should emulate that Employer\u2019s Communication Approach.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b38bf7b elementor-widget elementor-widget-text-editor\" data-id=\"b38bf7b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<strong>Do: Have All Your Questions Ready Up Front<\/strong> \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ebc8647 elementor-widget elementor-widget-text-editor\" data-id=\"ebc8647\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tIt\u2019s advisable to come up to the table prepared with all of your Questions. Return to the Employer as little as possible, bringing a List of all the Modifications you want, any Questions you have, and anything else you wish to address.This would reduce the amount of back-and-forth time for <b>Physician Contract Negotiation.<\/b>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b8d760d elementor-widget elementor-widget-text-editor\" data-id=\"b8d760d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<strong>Do: Have a Justification for What You\u2019re Asking For<\/strong> \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-89217d2 elementor-widget elementor-widget-text-editor\" data-id=\"89217d2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tYou should have a Justification for any requests for additional compensation, benefits, or special treatment. \u201cAlways have an explanation for what the Doctor is requesting. \u201cMore than just \u201cWell, since that\u2019s what I want\u201d will suffice, \u201c, says Holloman. \u201cThe Physician must explain why the Employer should agree to their request for an additional $30,000 in remuneration, if one is made. The Doctor shouldn\u2019t request that $30,000 if they are unable to respond to\u00a0 that query. \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cfc49d9 elementor-widget elementor-widget-text-editor\" data-id=\"cfc49d9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<strong>Do: Obviously, Go with Positive Attitude<\/strong> \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a913e11 elementor-widget elementor-widget-text-editor\" data-id=\"a913e11\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tFor a successful Negotiation, an Optimistic Outlook and willingness to make concessions are essential. \u201cI win, you lose, or you win, I lose\u201d, says Appino. It reads, \u201cLet\u2019s get there to aid patients. Let\u2019s work together to make sure we understand each other. \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6d52cd2 elementor-widget elementor-widget-text-editor\" data-id=\"6d52cd2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<strong>Don\u2019t: Sign a Letter of Intent Prior to Negotiation &amp; Try to Renegotiate It<\/strong> \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-62c7234 elementor-widget elementor-widget-text-editor\" data-id=\"62c7234\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tPhysicians frequently make the error of accepting an Initial Offer and then Signing a Letter of Intent (LOI) before trying to Negotiate the Compensation or other Terms of the Contract. Holloman advises against doing this. \u201cAn LOI is similar to a handshake, but is not legally binding. I often argue that you would be miffed if the Company issued a Contract with a Salary of $270,000 after you Signed a Letter Of Intent with a $300,000 Compensation. However, the inverse is also accurate. You cannot approach the Employer and request $330,000 after Signing an LOI for $300,000. Therefore, it is advisable to Avoid Signing a Contract, before the end of Negotiations, whether binding or not. \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9fd7981 elementor-widget elementor-widget-text-editor\" data-id=\"9fd7981\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tDon\u2019t: Demand Changes to Things That are Determined by Policy \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-69bec5a elementor-widget elementor-widget-heading\" data-id=\"69bec5a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\">FAQ's<\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-83fde41 elementor-widget elementor-widget-eael-adv-accordion\" data-id=\"83fde41\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"eael-adv-accordion.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t            <div class=\"eael-adv-accordion\" id=\"eael-adv-accordion-83fde41\" data-scroll-on-click=\"no\" data-scroll-speed=\"300\" data-accordion-id=\"83fde41\" data-accordion-type=\"accordion\" data-toogle-speed=\"300\">\n            <div class=\"eael-accordion-list\">\n\t\t\t\t\t<div id=\"why-is-contract-negotiation-important-for-physician-practices-\" class=\"elementor-tab-title eael-accordion-header\" tabindex=\"0\" data-tab=\"1\" aria-controls=\"elementor-tab-content-1381\"><span class=\"eael-advanced-accordion-icon-closed\"><i aria-hidden=\"true\" class=\"fa-accordion-icon fas fa-plus\"><\/i><\/span><span class=\"eael-advanced-accordion-icon-opened\"><i aria-hidden=\"true\" class=\"fa-accordion-icon fas fa-minus\"><\/i><\/span><p class=\"eael-accordion-tab-title\">Why Is Contract Negotiation Important for Physician Practices?  <\/p><\/div><div id=\"elementor-tab-content-1381\" class=\"eael-accordion-content clearfix\" data-tab=\"1\" aria-labelledby=\"why-is-contract-negotiation-important-for-physician-practices-\">Contract negotiation is important for physician practices to ensure that they receive fair compensation, favorable terms, and incentives that align with their goals and values. \n\n<\/div>\n\t\t\t\t\t<\/div><div class=\"eael-accordion-list\">\n\t\t\t\t\t<div id=\"what-are-some-key-strategies-for-effective-contract-negotiation-for-physician-practices\" class=\"elementor-tab-title eael-accordion-header\" tabindex=\"0\" data-tab=\"2\" aria-controls=\"elementor-tab-content-1382\"><span class=\"eael-advanced-accordion-icon-closed\"><i aria-hidden=\"true\" class=\"fa-accordion-icon fas fa-plus\"><\/i><\/span><span class=\"eael-advanced-accordion-icon-opened\"><i aria-hidden=\"true\" class=\"fa-accordion-icon fas fa-minus\"><\/i><\/span><p class=\"eael-accordion-tab-title\">What Are Some Key Strategies for Effective Contract Negotiation for Physician Practices?<\/p><\/div><div id=\"elementor-tab-content-1382\" class=\"eael-accordion-content clearfix\" data-tab=\"2\" aria-labelledby=\"what-are-some-key-strategies-for-effective-contract-negotiation-for-physician-practices\">Effective contract negotiation involves researching the market, understanding the practice\u2019s worth, preparing thoroughly, negotiating for fair compensation and incentives, and seeking legal advice. \n\n<\/div>\n\t\t\t\t\t<\/div><div class=\"eael-accordion-list\">\n\t\t\t\t\t<div id=\"what-factors-should-physician-practices-consider-when-negotiating-contracts-\" class=\"elementor-tab-title eael-accordion-header\" tabindex=\"0\" data-tab=\"3\" aria-controls=\"elementor-tab-content-1383\"><span class=\"eael-advanced-accordion-icon-closed\"><i aria-hidden=\"true\" class=\"fa-accordion-icon fas fa-plus\"><\/i><\/span><span class=\"eael-advanced-accordion-icon-opened\"><i aria-hidden=\"true\" class=\"fa-accordion-icon fas fa-minus\"><\/i><\/span><p class=\"eael-accordion-tab-title\">What Factors Should Physician Practices Consider When Negotiating Contracts?  <\/p><\/div><div id=\"elementor-tab-content-1383\" class=\"eael-accordion-content clearfix\" data-tab=\"3\" aria-labelledby=\"what-factors-should-physician-practices-consider-when-negotiating-contracts-\">Physician practices should consider factors such as reimbursement rates, scope of services, quality measures, patient volume, and any regulatory or legal requirements. \n\n<\/div>\n\t\t\t\t\t<\/div><div class=\"eael-accordion-list\">\n\t\t\t\t\t<div id=\"how-can-physician-practices-prepare-for-contract-negotiations-\" class=\"elementor-tab-title eael-accordion-header\" tabindex=\"0\" data-tab=\"4\" aria-controls=\"elementor-tab-content-1384\"><span class=\"eael-advanced-accordion-icon-closed\"><i aria-hidden=\"true\" class=\"fa-accordion-icon fas fa-plus\"><\/i><\/span><span class=\"eael-advanced-accordion-icon-opened\"><i aria-hidden=\"true\" class=\"fa-accordion-icon fas fa-minus\"><\/i><\/span><p class=\"eael-accordion-tab-title\">How Can Physician Practices Prepare for Contract Negotiations?  <\/p><\/div><div id=\"elementor-tab-content-1384\" class=\"eael-accordion-content clearfix\" data-tab=\"4\" aria-labelledby=\"how-can-physician-practices-prepare-for-contract-negotiations-\">Physician practices can prepare for contract negotiations by analyzing their financial and operational data, identifying their key priorities, and developing a negotiation strategy that aligns with their goals. \n<\/div>\n\t\t\t\t\t<\/div><div class=\"eael-accordion-list\">\n\t\t\t\t\t<div id=\"what-role-does-legal-counsel-play-in-contract-negotiations-for-physician-practices-\" class=\"elementor-tab-title eael-accordion-header\" tabindex=\"0\" data-tab=\"5\" aria-controls=\"elementor-tab-content-1385\"><span class=\"eael-advanced-accordion-icon-closed\"><i aria-hidden=\"true\" class=\"fa-accordion-icon fas fa-plus\"><\/i><\/span><span class=\"eael-advanced-accordion-icon-opened\"><i aria-hidden=\"true\" class=\"fa-accordion-icon fas fa-minus\"><\/i><\/span><p class=\"eael-accordion-tab-title\">What Role Does Legal Counsel Play in Contract Negotiations for Physician Practices? <\/p><\/div><div id=\"elementor-tab-content-1385\" class=\"eael-accordion-content clearfix\" data-tab=\"5\" aria-labelledby=\"what-role-does-legal-counsel-play-in-contract-negotiations-for-physician-practices-\">Legal counsel can provide valuable guidance and protection during contract negotiations, helping to ensure that the terms of the contract are fair and align with the practice\u2019s interests. \n\n<\/div>\n\t\t\t\t\t<\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-5d923ed elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5d923ed\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-15abbdf\" data-id=\"15abbdf\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-65bab45 elementor-widget elementor-widget-heading\" data-id=\"65bab45\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\">Related Resource  :<\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9a1eafd elementor-widget elementor-widget-text-editor\" data-id=\"9a1eafd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul><li><strong><a href=\"https:\/\/www.mhrcm.com\/psychiatry-medical-billing-rcm\" target=\"_blank\" rel=\"noopener\">Psychiatry Medical Billing Services<\/a><\/strong><\/li><li><strong><a href=\"https:\/\/www.mhrcm.com\/revenue-cycle-management-round-rock\" target=\"_blank\" rel=\"noopener\">Revenue Cycle Management Round Rock<\/a><\/strong><\/li><li><strong><a href=\"https:\/\/www.mhrcm.com\/ot-pt-slp-billing\" target=\"_blank\" rel=\"noopener\">OT PT and SLP Billing Services<\/a><\/strong><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-30c69e1 elementor-widget elementor-widget-heading\" data-id=\"30c69e1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\"><strong> About the Author <\/strong><\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-03c34e1 box-container elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"03c34e1\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-eaa18c6\" data-id=\"eaa18c6\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-192f13e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"192f13e\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-61f70b2\" data-id=\"61f70b2\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-a96921a elementor-widget elementor-widget-heading\" data-id=\"a96921a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/www.mhrcm.com\/author\/leo-john\" target=\"_blank\"> <strong> Leo John<\/strong><\/a><\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-c1a3ba1\" data-id=\"c1a3ba1\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4ed8904 elementor-view-stacked elementor-absolute elementor-shape-circle elementor-widget elementor-widget-icon\" data-id=\"4ed8904\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_position&quot;:&quot;absolute&quot;}\" data-widget_type=\"icon.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon-wrapper\">\n\t\t\t<a class=\"elementor-icon\" href=\"https:\/\/www.linkedin.com\/in\/leo-john-007039249\/\" target=\"_blank\">\n\t\t\t<i aria-hidden=\"true\" class=\"fab fa-linkedin\"><\/i>\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<div class=\"elementor-element elementor-element-d43508b elementor-position-right elementor-vertical-align-middle elementor-widget elementor-widget-image-box\" data-id=\"d43508b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><a href=\"https:\/\/www.mhrcm.com\/author\/leo-john\" tabindex=\"-1\"><img decoding=\"async\" width=\"113\" height=\"123\" src=\"https:\/\/www.mhrcm.com\/blog\/wp-content\/uploads\/2022\/04\/Leo-John.webp\" class=\"attachment-large size-large wp-image-10339\" alt=\"Leo John\" \/><\/a><\/figure><div class=\"elementor-image-box-content\"><p class=\"elementor-image-box-description\"><p>  Leo John is a finance strategist and IT professional at MHRCM and is passionate about revolutionizing revenue cycle management (RCM). <p> <\/p><\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-91ae401 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"91ae401\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-2c36c0d\" data-id=\"2c36c0d\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7c88f98 elementor-widget elementor-widget-text-editor\" data-id=\"7c88f98\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tMore Leo&#8217;s Articles\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-e701076\" data-id=\"e701076\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-92f0661 elementor-absolute elementor-view-default elementor-widget elementor-widget-icon\" data-id=\"92f0661\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_position&quot;:&quot;absolute&quot;}\" data-widget_type=\"icon.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon-wrapper\">\n\t\t\t<a class=\"elementor-icon\" href=\"https:\/\/www.mhrcm.com\/author\/leo-john\" target=\"_blank\">\n\t\t\t<i aria-hidden=\"true\" class=\"icon icon-arrow-right\"><\/i>\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>A Physician\u2019s job\/service comprises various responsibilities in the stack. 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