The Review Podcast

The FIRE movement is a lifestyle strategy focused on becoming financially independent as soon as possible in order to retire early. Physicians, depending on their spending and saving habits, can be well positioned to quickly reach FIRE.
Dr. Leif Dahleen, a (retired) anesthesiologist, is the founder of Physician on FIRE, a website providing financial education in the form of blog articles and courses to physicians pursuing some level of FIRE.
Dr. Dahleen visits the podcast discuss his career, the creation of Physician on FIRE, and how the right employment contract terms can help physicians become financially independent and even retire early.

Today, the majority of physicians are employed by corporate entities like hospitals or large health systems. However, there are still plenty of doctors joining private practices, perhaps with partnership tracks outlined in their employment contracts.
Contracts for private practice can be structured differently than those for purely employed settings, and details surrounding partnership need to be absolutely clear before ever signing an agreement. Attorneys Kyle Claussen and Skyler Mickelson describe what physicians should expect from these contracts and how terms might need to be negotiated.

For a J-1 waiver application to be approved, a physician's employer and employment contract must meet certain requirements. For instance, the contract must offer full-time employment for at least three years and exclude any sort of non-compete clause. The employer must also be located in an area which is federally designated as "medically underserved."
Immigration attorney, Angela Lopez, revisits the podcast to explain these requirements in more detail and discuss how they might vary depending on location, employer type, and other factors.

The employment landscape is always changing and presenting new challenges for physicians. Dr. Yalda Jabbarpour, a family medicine physician and Director of the Robert Graham Center for Policy Studies, joins Resolve CEO and attorney, Kyle Claussen, to discuss current family medicine physician employment trends. Dr. Jabbarpour references recent research concerning these trends and explains how physicians should make employment decisions based on the available data.

For physicians on a J-1 visa, finding a first attending job and applying for a J-1 waiver is a lengthy process with many steps. It's crucial to start a job search as early as possible, so there will be enough time to find the right position, sign a contract, apply for a waiver, and have the application approved. Immigration attorney, Angela Lopez, returns to the podcast and discusses the timeline for physicians who are completing training and will need a J-1 waiver.

In the event that one party is in breach of contract, liquidated damages define an amount of compensation that will be owed to the opposing party. Physician employers typically define liquidated damages for contract breaches where an exact damage amount could, in theory, be difficult to calculate—for example, if a physician leaves a job without giving the proper notice or violates a non-compete agreement.
Attorneys Kyle Claussen and Brady Glissendorf discuss how liquidated damages could affect physicians and whether such contract terms should be negotiated.

A J-1 visa allows foreign medical graduates to participate in graduate medical training programs within the United States. However, once that training is complete, physicians on a J-1 visa must return to their home country for a minimum of two years before they can return to the U.S. and practice medicine as an attending. A J-1 visa waiver allows these physicians to circumvent the two-year foreign residence requirement. Angela Lopez, an immigration attorney, visits the podcast to further explain J-1 visas, waivers, and the different options physicians have for obtaining a waiver.

A force majeure, or "act of god," clause relieves both parties from their contractual obligations when unforeseen or uncontrollable events occur. These clauses typically come into play when a disaster, such as a hurricane or fire, takes place, rendering either party unable to fulfill their obligations. Following the COVID-19 pandemic, force majeure clauses have become more common in physician employment contracts. Attorneys Kyle Claussen and Skyler Mickelson explain why these clauses are appearing more often and how they could be potentially damaging to a physician's career.

Guaranteeing the proper equipment and support staff in an employment contract can be important for certain physicians. Surgical specialists may need access to specific tools or robotics, and other physicians might want to ensure a PA or scribe will be working alongside them. Attorneys Kyle Claussen and Brady Glissendorf discuss when, why, and how equipment and support staff needs should be stipulated in a contract.

Outside of expiration, an employment contract can generally be terminated in one of two ways - "for cause" or "without cause." While termination without cause does not require a specific reason, termination for cause is usually the result of some misconduct by either a physician or an employer. Attorneys Kyle Claussen and Skyler Mickelson detail some examples of termination for cause and explain how broad definitions of misconduct and subjective contract language can be detrimental to physicians.