If a hospital’s demands on your group have markedly changed but the compensation for your services has not kept pace with the market, it’s not only unfair, it’s immoral, that you continue to eat the burden.
Proper planning at the time of exclusive contracting includes developing a strategy to terminate and addresses the issue of what might trigger stipend renegotiation.
Even with that planning, making the most effective renegotiation move and taking the steps required to set it in motion require considerable lead time.
Even if your group didn’t engage in advance planning to build specific contractual language into its hospital exclusive, all is not lost; it might still be possible to achieve a similar result with a well thought out and implemented strategy.
There’s nothing glorious in financial failure, especially when the hospital is reaping a benefit from causing your loss.
Comment or contact me if you’d like to discuss this post.
Mark F. Weiss