In the last month I have written about compensation. Since then I have received numerous questions regarding associate agreements. I thought that a quick overview of what to include in an associate agreement would be important. Consider these aspects when negotiating your associate agreement.
Status of associate optometrist.
Schedule and location of services.
Malpractice insurance.
Duties by owner and associate.
Compensation to associate.
Business related expenses.
Patients’ charts and records.
Covenants not to compete.
Confidentiality and trade secrets.
Indemnification.
Associate’s right to buy in.
Attorneys’ fees.
For further explanation please reference an article written by A. Lee Maddox, DDS, Attorney at Law, from California. His article can be found on the Wells Fargo Practice Finance website.
