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Are Non-Compete Clauses About To Be History? | And what to consider before accepting a signing bonus

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Manage episode 424051103 series 2637977
Content provided by Rob Orman, MD, Rob Orman, and MD. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Rob Orman, MD, Rob Orman, and MD or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

Non-compete clauses have plagued contracts for decades. It’s been analogous to asymmetric warfare, with employers holding the upper hand.

All of that may soon be a thing of the past.

In this episode, we explore the Federal Trade Commission's recent ruling to ban these clauses and its implications for doctors and the healthcare industry. We'll also discuss the unexpected ways non-competes can protect smaller groups, the rise of independent contractor models, and the critical staffing issues in emergency medicine. A highlight of our discussion includes the lure and the trap of signing bonuses—what seems like a generous offer can sometimes come with subtle strings attached. Finally, we'll touch on the U.S. Senate's investigation into major staffing companies and the innovative emergence of empath units for mental health patients.

💡 Check out our Free Resources specifically designed to address pain points in medical practice💡

Guest Bio: Leon Adelman, MD, MBA, FACEP, FAAEM is an emergency physician and co-founder of Ivy Clinicians, a software company that simplifies the emergency medicine job search through transparency. Dr. Adelman is the author and publisher of the Emergency Medicine Workforce Newsletter, which explores the business of emergency medicine.

We Discuss:

  • What is a non-compete clause?
  • The Federal Trade Commission's ruling making non-complete clauses null and void
  • Why employers and private equity are unhappy with the non-compete ruling
  • The emergency medicine-specific burn point of the non-compete ruling: contract retention
  • The unexpected way that individual non-compete contract clauses can protect a group from being replaced
  • Why small groups like to use non-compete clauses
  • How larger groups have moved away from non-competes and favored a 1099 independent contractor model
  • Why the non-compete ruling is a massive win for independent physician practices
  • The lure and the trap of physician signing bonuses
  • A signing bonus is a loan, not a check. It's a loan you are paying back with time.
  • What is the chance of someone not paying back the time attached to a signing bonus?
  • There's a reason that some jobs offer a signing bonus and others don't.
  • The US Senate Committee on Homeland Security and Governmental Affairs is investigating the staffing models of USACS, Team Health, Envision, and Life Point
  • When private equity owns a hospital, it tries to lower expenses by decreasing staffing
  • 48 states and the federal government don't require a physician in the emergency department
  • Indiana and Virginia are the only two states that require a physician to be on duty in emergency departments
  • Are Empath Units the solution to helping emergency department mental health patients?

Mentioned in this episode:

The Flameproof Course. Sept 10, 2024

Real-time instruction with Rob Orman, MD, and Scott Weingart, MD. Specific tools and strategies for anti-burnout, career longevity, and self-mastery. From a recent Flameproof graduate, "I went from constantly dreading work and thinking of quitting to being able to enjoy shifts on a regular basis."

Flameproof Course

4 Free Resources specifically designed to address pain points in medical practice

Scripting your least favorite conversations | The Driveway Debrief | My 4 favorite documentation templates | The quick and dirty guide to calling consults

Free Resources Link

1 on 1 Physician Coaching

Love medicine, but the job itself leaves a lot to be desired? I work with many doctors in your shoes and help them rediscover the joy of being a physician.

Learn more about 1-on-1 coaching

  continue reading

128 episodes

Artwork
iconShare
 
Manage episode 424051103 series 2637977
Content provided by Rob Orman, MD, Rob Orman, and MD. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Rob Orman, MD, Rob Orman, and MD or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

Non-compete clauses have plagued contracts for decades. It’s been analogous to asymmetric warfare, with employers holding the upper hand.

All of that may soon be a thing of the past.

In this episode, we explore the Federal Trade Commission's recent ruling to ban these clauses and its implications for doctors and the healthcare industry. We'll also discuss the unexpected ways non-competes can protect smaller groups, the rise of independent contractor models, and the critical staffing issues in emergency medicine. A highlight of our discussion includes the lure and the trap of signing bonuses—what seems like a generous offer can sometimes come with subtle strings attached. Finally, we'll touch on the U.S. Senate's investigation into major staffing companies and the innovative emergence of empath units for mental health patients.

💡 Check out our Free Resources specifically designed to address pain points in medical practice💡

Guest Bio: Leon Adelman, MD, MBA, FACEP, FAAEM is an emergency physician and co-founder of Ivy Clinicians, a software company that simplifies the emergency medicine job search through transparency. Dr. Adelman is the author and publisher of the Emergency Medicine Workforce Newsletter, which explores the business of emergency medicine.

We Discuss:

  • What is a non-compete clause?
  • The Federal Trade Commission's ruling making non-complete clauses null and void
  • Why employers and private equity are unhappy with the non-compete ruling
  • The emergency medicine-specific burn point of the non-compete ruling: contract retention
  • The unexpected way that individual non-compete contract clauses can protect a group from being replaced
  • Why small groups like to use non-compete clauses
  • How larger groups have moved away from non-competes and favored a 1099 independent contractor model
  • Why the non-compete ruling is a massive win for independent physician practices
  • The lure and the trap of physician signing bonuses
  • A signing bonus is a loan, not a check. It's a loan you are paying back with time.
  • What is the chance of someone not paying back the time attached to a signing bonus?
  • There's a reason that some jobs offer a signing bonus and others don't.
  • The US Senate Committee on Homeland Security and Governmental Affairs is investigating the staffing models of USACS, Team Health, Envision, and Life Point
  • When private equity owns a hospital, it tries to lower expenses by decreasing staffing
  • 48 states and the federal government don't require a physician in the emergency department
  • Indiana and Virginia are the only two states that require a physician to be on duty in emergency departments
  • Are Empath Units the solution to helping emergency department mental health patients?

Mentioned in this episode:

The Flameproof Course. Sept 10, 2024

Real-time instruction with Rob Orman, MD, and Scott Weingart, MD. Specific tools and strategies for anti-burnout, career longevity, and self-mastery. From a recent Flameproof graduate, "I went from constantly dreading work and thinking of quitting to being able to enjoy shifts on a regular basis."

Flameproof Course

4 Free Resources specifically designed to address pain points in medical practice

Scripting your least favorite conversations | The Driveway Debrief | My 4 favorite documentation templates | The quick and dirty guide to calling consults

Free Resources Link

1 on 1 Physician Coaching

Love medicine, but the job itself leaves a lot to be desired? I work with many doctors in your shoes and help them rediscover the joy of being a physician.

Learn more about 1-on-1 coaching

  continue reading

128 episodes

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