A Guide to Protecting Your Paycheck For Physicians

Author: Ashley Shaw, CEO & Founder of Contract Rx

The challenges of 2020 are definitely for the history books. Historic physician layoffs, reduced hours, pay cuts, disappearing support systems and a pandemic that won’t quit. Feeling like your employer is trying to force you into a new contract for the same hours but for less pay? Is your employer trying to switch you to an RVU system? Are you being asked to work longer hours with less support? Do you like changes in support systems and policy have left you financially vulnerable? Are you at your wits end and thinking about leaving medicine? Hang in there.

2020 has been full of unpredictability. Forget ups and downs. It is pretty safe to say that 2020 has had a lot of downs. Physicians have had to tackle new challenges, deal with forced compensation changes and find ways to practice medicine amid social distancing, shut downs, lock downs and a rapidly spreading virus. This has left some physicians feeling overwhelmed, spread too thin, undervalued and ready to quit. At Contract Rx, we get it and we have a guide for physicians that contains 3 major tips that will help you protect your paycheck while and tackling the challenges of 2020 with your sanity.

Tip #1: Do Not Automatically Sign A New Contract with Different Compensation

Hospitals and practices are asking physicians to sign new contracts with a different compensation model or reduced pay. It goes without saying that you should never sign a contract without reading it and fully understanding all the terms in it, especially the terms regarding your compensation. If you do not understand the compensation terms, ask questions and demand explanations. Once you have read the new contract and you have answers, the best thing you can do is consult a lawyer that specializes in physician contracts. That new contract is drafted in the best interest of the hospital or practice, not YOU. That new compensation model is in the best interest of the hospital or practice, not YOU. That new compensation model is designed to save the hospital or the practice money, not pay you more. While you may be told that you do not have a choice but to accept the new compensation model, you ALWAYS have a choice and there are definitely ways to ease the burden and risk of a new compensation model with the right contract language. Your employer won't tell you that you have options but you do. Protect your paycheck and negotiate the terms of that new compensation after consulting a lawyer.

Tip # 2: Excellent Bedside Manner

Some emergency medicine physicians are managing staffing changes that have resulted in single physician coverage for ERs. This might have worked when patient census was down but that single physician coverage has often remained with rebounding patient census. This has left physicians feeling spread too thin and supported. Some physicians even feel vulnerable to the risk of future malpractice litigation. However, you have one powerful tool in your arsenal to deter future litigation. Excellent Bedside Manner. Bedside manner can increase or decrease the risk of malpractice litigation. Decades of research show that bedside manner can have an impact on whether a doctor will be sued. Abrupt doctors are sued far more often than compassionate ones that are good communicators. Poor bedside manner and poor communication gives a perception of medical malpractice when there is a bad outcome. Excellent bedside manner can change or eliminate this perception and decrease the risk of being named in a lawsuit. Although you must limit physical contact to minimize exposure, think about ways in which you can convey an excellent bedside manner with your body language, tone of voice or pleasantries. Protect your pay check and assets by minimizing you risk of being sued with this tip.

Tip # 3: Document. Document. Document.

Completing a chart note may not your favorite thing to do. You may put it off until the end of your shift or ask your nurse to do it. While working in the aftermath of Covid-19, it is imperative that you and only you provide detailed notes as you treat patients. The reality is that tough decisions have to be made and you may not have the resources you need, especially in a single physician coverage environment. The old saying of “Hope for the best and prepare for the worst” rings so very true nowadays. So, let’s prepare for the worst just in case you are sued or forced to defend your medical license. Noting your medical decision making is the best way to show why your treatment was the best option and to document any extenuating circumstances or lack of support that may have impacted care. If you find yourself in the hot seat in a deposition, you will be thankful that you followed this tip. A good doctor's note in a patient chart can make all the difference when it is time determine liability. Protect your paycheck and assets with this tip.

We hope you found these tips helpful. If you have any questions about this article or need help with a a new compensation model in your physician provider agreement, please contact Contract Rx at [email protected]. Contract Rx is a legal service that offers premier contract negotiation service to physicians of all specialties for a flat fee. https://www.mycontractrx.com/