Doctors, Before You Sign That First Contract …

Here are some tips physician leaders can share with final-year residents as they consider next employment.

Medical residency and the world of organized education are tough enough, and becoming an attending physician may seem like an awful long way away. But ask anybody who’s been through it, and they will tell you how quickly the time flies.

When the time comes during your final year of residency to decide what comes next, you might get swept up in the process of interviewing for jobs and having multiple offers come your way. This is an important moment to stop and pause.

Remember: A mistake now could cost you dearly. Take your time, interview in as many places as possible, and speak to as many experienced physicians as you can. Here, three crucial tips before you sign on the dotted line:

Don’t be afraid to negotiate. You’re probably not used to this, but, remember, you’re the one being hired in an environment in which physicians are in short supply. Make sure you get the best possible salary and the most benefits. Do not be shy or sell yourself short. As long as you are reasonable, polite and not over the top, the institution or physician group probably will respect you for it.

Do as much research as possible. Fortunately, we live at a time where a wealth of information is available at the click of a button. Simply searching online for the term “physician contract” will yield a ton of information. There are even online review services you can use. Hopefully, you won’t need them. Just be aware of the key parts of a physician contract and typical legal wording.

Don’t repeat the mistakes of others. This relates to the second point, but familiarize yourself with the most common horror stories out there and why they happened. Examples include not being able to practice in a certain radius after leaving a group, and not having “ insurance. (If you don’t know what that is, you’d better check now.) Others abound, including having to “buy out” of a group, or having to pay back any loan repayment if you leave early. Nowadays, there’s no reason to not be wise to the avoidable pitfalls.

So, doctor, being involved in a negotiating process is a bit of a game, and you’ve gone through a lot to get here. Your first contract when you are right out of residency should be the one that you are most careful with at this early stage of your career.

Suneel Dhand, MD, is board-certified in internal medicine and is based in Massachusetts. He is co-founder of DocsDox , an online service that connects physicians with moonlighting and per diem opportunities.