What does the contracting process look like?
Since 2004, The Brake Group has worked with practices nationwide across all specialties to eliminate the gap between simply practicing medicine and managing the business side of a practice or group. With health care reform constantly evolving, practices need strategic help with customized solutions. Physicians and staff are stretched in many different directions. This is where our team brings value with a broad skill set to help practices of any size and specialty tackle the toughest challenges on part-time, full-time, or interim basis to best suit your needs.
If, after your free initial consultation, you are interested in engaging our team in a hospital negotiation or employment contract review, you will receive a link for payment and another for you to upload the documents at issue. Then you are provided a link to schedule a call with one of our attorneys. If you're interested in job placement or practice management services, we'll discuss customizing a plan to meet your needs. Our teams thrives on providing an expedient turnaround and offers late or early meetings to fit the busy Physician's schedule.
During the review of the contract terms, our staff will compare your offer to MGMA, and other proprietary databases that we have created over the last 14 years. Our staff of Lawyers will coach you in negotiating your agreement or we can assume responsibility for the negotiations on your behalf.
We have amassed a wealth of data regarding from our negotiations with the large health care systems. Even if a Hospital Administrator says there is no room for negotiation, most of the time we can leverage a significant increase to the contract terms to assist our clients – sometimes as high as five or six figure increases over several years. For example, we negotiated a hospital contract for an anesthesia group and we were able to get a Collections Guarantee in place where the hospital was responsible for up to an additional $2 million revenue annually. It is imperative to document what the salary survey tools indicate fair market value to be and to focus on the objective rather than subjective.
How successful are you in changing the hospital contract or employment agreement?
Because our focus is 100% on health care contracting, job placement, and practice management services, we are better than any private attorney or group that does a variety of services and does not specialize in this niche area. Additionally, our CEO graduate from the #1 ranked Health Law program and she only hires the best health care attorneys.
This leads to 95% of the time we're able to make changes to these contracts that yield tangible financial value. Not just increases in compensation, but more PTO time, a greater share of the revenue, lower overhead costs, on-call coverage that doesn't interfere with your ability to practice and generate a competitive wage, etc. Rarely do we see completely inflexible hospital administrators or heads of practices who refuse to at least listen to objectively-based negotiation considerations. Thus, we assist our clients in doing their due diligence to so that they, and we, can make reasonable requests. We are proud that clients return to us for help with future opportunities as a confirmation that we do good work. We always enjoy learning about the success each of our client's achieves over the course of their career and we feel in some small way we've had a chance to promote their talent.
My employer says the hospital or practice attorney negotiated the language and it's non-negotiable?
Very rarely is this the case. Hospitals and practices use this bravado to keep the contract terms to their advantage. Honestly, it's in the hospital or practices best interests to get the best contract terms possible. While you may initially feel it's a fair contract, will you feel that way down the road? With the hospital's attorney or the practice's attorney drafting the contract in their favor, shouldn't you safeguard your future?
I'm not interested in a full-blown contract review. Can you just take a quick edit of it?
Sure, we're here to serve you any way you prefer. Please see our packages in our Employment Contract Review section or for hospital contract negotiations, partnership agreements, practice valuation, exit agreements, renegotiations, etc. we'll work with you to get a customized set of services and pricing.
What if I want to do the negotiations with the hospital or physician group?
We are more than happy to help in any way that fits your needs. At any time we're able to step in if needed to assume negotiations, coach you on how to leverage the best contract terms, or just be prepared to discuss the employer's or hospital's response.
I'd love to hire an expert to help find me the “right” job, but my student loans are so burdensome.
We've been able to secure residency stipends to cover those expenses between residency and private practice. Each contract builds off the previous one. Why not take the time and money to get it right the first time? We offer packages that can help spread out the cost of our services and sometimes we're able to defer the cost to be borne by the employer if the employer is in an active search phase and the candidate meets their criteria.
How do I communicate with my agent? Can I expect to receive updates?
Yes, we will provide frequent updates and we are available to walk you through the process any time you need help, especially if you are new to negotiating high value contracts, job placement, or practice management services. We want to be a resource for you to help you leverage all that value that has built up after many years of training and experience. If you look good, we look good. Additionally, we hope you think we did a great job and we'd love to hear about it! We're always looking for ways to better our services and we'd love for you to share your feedback with us and we hope you recommend us your friends and colleagues.
How do you differ from your competitors?
We are an attorney led company that incorporates financial professionals and wealth managers to help take care of physicians from residency to retirement. We have a specific specialty in estate planning with lawyers specializing in this area to be able to help physicians make plans from the time they start practice until the time they are ready to retire.
Additionally, most of our competitors only deal with employment contracts and physician placement. We have a broader approach in being able to manage every type of physician practice from A to Z and we have a specific niche specialty in negotiating hospital contracts as our CEO was a Hospital Administrator, Hospital General Counsel, and Hospital Compliance Officer. We value the trust our clients' put in us and we enjoy taking care of our clients at any point in their career on almost every type of issue.