Joint and several' - don't get stuck holding the bag
Article Abstract:
Physicians should be wary of 'joint and several' agreements when negotiating loan contracts. 'Joint and several' agreements hold individual parties responsible for the debt accrued by an entire group. In the event of a dissolved partnership, the most convenient or creditworthy physician must often bear a financial burden incompatible with his or her share of the loan. Savvy physicians will negotiate for 'several' liability only; under 'several' terms, physicians are liable for a pro rata portion of the debt.
Publication Name: American Medical News
Subject: Health
ISSN: 0001-1843
Year: 1997
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Examine terms carefully in managed care contracts
Article Abstract:
It is all too common for managed care organizations to ask physicians to sign contracts that contain acrimonious language and provisions. The physician can either reject the contract entirely, or sign it under the exact conditions and terms provided. However, managed care companies have become more willing to negotiate with physicians in order to resolve some, if not all, issues in the contracts that physicians are asked to sign.
Publication Name: American Medical News
Subject: Health
ISSN: 0001-1843
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
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