Coffee & Contracts - Probationary Periods and Risk
Listen now
Description
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
More Episodes
Cindy Brown, an expert in transforming medical practices, shares valuable insights on optimizing revenue streams, personalized tax strategies, and achieving business success. She emphasizes the importance of having a strategic plan and understanding the business side of medicine. Cindy highlights...
Published 05/18/24
Published 05/18/24
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. Physician families who succeed...
Published 05/17/24