Erkeda DeRouen talks to Ashley Shaw, the founding lawyer of Contract Rx. With 15 years of legal experience, she has helped physicians navigate employment contracts to ensure they receive fair terms. Today Erkeda chats with Ashley about Contract Rx and the importance of having legal counsel.
- [00:56] Ashley’s Background and Career
- [03:44] Why Ashley Started Contract Rx
- [08:05] Contract Rx’s Services and Flat Fee
- [11:18] Negotiating Physician Employee Contracts
- [16:48] Physician Non-Compete Clauses
- [18:43] Common Mistakes by Physicians in First Contracts
- [22:27] Legalities in the Practice of Medicine
- [25:16] CANE Beauty
- [28:28] The Best and Worst Advice Ashley has Received
About Contract Rx and Their Services
Initially, Ashley started out by helping her physician twin sister with legal matters. Soon, she extended her expertise to friends and acquaintances. It shocked her to learn that doctors sign employment contracts without advice from lawyers. Majority of physicians aren’t familiar with the legalities of medicine. Contract Rx was born to create value for doctors, educating them about contracts while ensuring their best interests.
Contract Rx offers contract review, coaching, negotiation, and consultation¾all for a flat fee. Physicians can ask questions without having to worry about huge fees by the hour. This is in line with Contract Rx’s mission to help physicians by encouraging them to participate in the process.
Can Physician Employee Contracts be Changed?
Employers will often claim that contracts are standardized and cannot be changed. In reality, contracts can be revised but employers are not fond of negotiation. There is no harm in trying to ask for what you think you deserve. Make sure to read contracts thoroughly before signing. Details regarding compensation are important, but also look out for clauses about bonuses, non-compete agreements, insurance, and other significant sections.
Mistakes to Avoid in Your First Contract
It’s common for residents to make the mistake of not reviewing their contract properly. Later on, they are surprised to learn that there are clauses they shouldn’t have agreed to. Residents also fail to take advantage of their network. Don’t hesitate to ask your fellow physicians about working conditions and compensation. Gather information so you can make a sound decision. However, residents should avoid buying compensation and salary data. The data sets are never up to date and consist of self-reports. You’re better off doing your own research online.