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Podcast: Financial Residency
Episode: Coffee & Contracts: Severance Packages in Physician Contracts
Description: In this episode, John from Contract Diagnostics answers a question about the commonality of severance packages in physician contracts. He explains that severance packages are not typically found in standard physician contracts. However, termination clauses are common, allowing either party to terminate the contract without cause, given a certain notice period. If a physician gives a 90-day notice but the employer asks them to stop working after 5 days, the contract may stipulate that the physician should still be paid for the full 90 days. The specifics of how and what they are paid can vary and depend on...