Graduating Residents & Fellows
So you found a practice opportunity and they are talking about a Letter of Intent or an employment contract. Now what?
A Letter of Intent is a preliminary document used by some larger practices. Typically, a Letter of Intent outlines some of the more significant terms of employment, such as annual compensation, location, general benefits, etc. Letters of Intent are generally non-binding. However, once you agree to terms in a Letter of Intent, those terms are generally considered non-negotiable. Think of a Letter of Intent as a way to test your commitment.
Physician employment contracts are filled with jargon. They also vary greatly from region to region. Legal interpretation is typically not taught in residency or fellowship. A licensed attorney with extensive experience with physician employment contracts in the region where you will be employed can not only explain the binding terms of a medical contract, but can recognize terms which may be unfair, over-broad, atypical or problematic. An experienced medical contract attorney can recommend commonly acceptable alternatives and negotiation tactics. Mr. Gunn has personally handled more than 500 physician employment contracts.