The Best Way for Physicians to Evaluate Their Employment Contracts and Track Career Progress
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No matter where a physician is in their career, staying informed about the job market and latest compensation trends is essential. The landscape of physician employment changes frequently, and contract terms that were considered fair just a year or two ago may be insufficient by today’s standards. By understanding what others in their specialty and location are currently receiving, a physician can tell whether their existing terms of employment or any new offer is below average.
MSSNY member benefit provider Resolve now gives physicians more career insights than ever in their Contract Hub. The Contract Hub is a platform that allows physicians to upload all the details of their employment contract(s) and instantly see how they stack up against verified salaries, bonuses, paid time off, non-compete terms, and more from their peers. If a physician is deciding between multiple job offers, each offer or full contract can be uploaded and compared side-by-side, as well as against the data.
While Resolve is primarily known for reviewing and negotiating physician employment contracts, they also offer access to a large amount of data derived from thousands of those reviewed agreements. Every data point used in the Contract Hub is verified with real documents, meaning physicians don’t need to worry about the numbers being inaccurately reported.
By comparing their current or prospective contract to the latest data, physicians can easily spot inadequate compensation or terms that may negatively affect their wellbeing. These could include low salaries, unattainable production numbers, insufficient paid time off, an extremely restrictive non-compete, and more.
Though salary is important, it’s just one part of many modern physician compensation packages. The Contract Hub helps physicians look deeper into their compensation at production numbers and bonuses. They can also go beyond compensation entirely and see breakdowns of malpractice tail coverage and other benefits that have an associated cost.
To help visualize how terms stack up and identify areas that need improvement, the key terms of a contract are displayed in detailed charts and graphs.
The Contract Hub is designed for all physicians, no matter the specialty, career stage, or individual goals. By leveraging the most accurate, up-to-date contract data, physicians have all the market insights they need to make confident career decisions.
Creating an account at resolve.com gives MSSNY members immediate access to the Contract Hub. All the aforementioned features are free to use, but if physicians would like access to additional data sources, like MGMA, or hands-on contract review and negotiation assistance, MSSNY members receive 10% off any paid Resolve services.
