Professional contracts can be fraught with potential pitfalls if not adequately examined. For chiropractors striking out on their own or joining an existing practice, specific common mistakes could have severe long-term consequences. Let’s explore some of the common errors and provide guidance on how to avoid them.
Common Contract Mistakes
Here are some of the most common contract mistakes that chiropractors need to avoid:
Not Thoroughly Understanding Non-Compete Clauses
A non-compete clause can restrict a chiropractor’s practice after the end of a contractual relationship within a specific geographical area for a particular period. Misinterpreting this clause could mean sacrificing future opportunities.
Overlooking Key Provisions
Key provisions such as malpractice insurance, termination, and disability clauses are vital to understand. Neglecting to scrutinize these details can lead to unexpected and possibly negative outcomes.
Not Scrutinizing Remuneration Terms
Contracts spell out remuneration terms, bonuses, and expense reimbursements. Failing to understand these terms could mean leaving money on the table or getting less than what is deserved.
Strategies to Avoid These Mistakes
To avoid these common mistakes, it’s important to understand the importance of contract negotiation. Negotiating a contract is similar to negotiating anything else in life—you need to know what you want, be prepared for counteroffers, and be willing to walk away if necessary.
Adequate Understanding of Contract
Allow yourself sufficient time to grasp the implications of every clause. Don’t rush the process. It’s also important to educate yourself on these legal terms – ignorance is not a defense.
Engage an Attorney’s Services
Consider hiring a healthcare attorney who understands chiropractic contracts, such as Chelle Law. They can provide professional chiropractor contract review, ask the right questions, and negotiate better terms if required.
Regular Review and Negotiation
Revisit your contract periodically, and open it for negotiations if you deem it necessary. Changes in the healthcare laws and your personal circumstances can require you to renegotiate the contract terms.
Avoiding contract mistakes requires due diligence, a comprehensive understanding of the terms, and engaging the right professionals, like Chelle Law. By diligently avoiding these mistakes, a chiropractor can ensure that their professional contract supports their practice and career goals.