Physician-Owned Diagnostic Radiology Groups in District of Columbia

Key Terms in Physician Contracts

Partnership Buy-In

The purchase of an ownership stake in a physician practice entity, typically offered after an associate track of 2 to 5 years. The buy-in price is calculated using business valuation, a multiple of earnings, or a formula tied to practice receivables. True equity buy-ins include voting rights and profit distributions.

Without-Cause Termination

A contract clause that allows either party to end the employment agreement without stating a reason, typically with 60 to 120 days written notice. The notice period, post-termination obligations (non-compete activation, tail insurance responsibility), and severance terms are negotiable. Shorter notice periods favor the employer.

Call Coverage

The obligation to provide after-hours or weekend coverage for patient emergencies. Contracts should specify call frequency (1 in 4, 1 in 6, etc.), whether call is compensated separately, and whether the physician takes call from home or in-house. Unrestricted call obligations are a common source of physician burnout.

Credentialing

The process by which hospitals and insurance companies verify a physician's education, training, board certification, licensure, and malpractice history before granting privileges or network participation. Credentialing typically takes 60 to 120 days and must be completed before a physician can bill patients under a new practice or facility.

PC (Professional Corporation)

A state-chartered corporation formed by licensed professionals. Physicians use PCs to own and operate their practices with liability separation. Many states require medical practices to be structured as PCs rather than standard LLCs or general partnerships.

Independent Contractor (1099)

A worker classification where the physician is not an employee of the practice but provides services under a contract. The physician is responsible for self-employment tax, benefits, and typically their own malpractice coverage. Gross income is often higher than W-2 equivalents to compensate for these costs.

Exclusivity Clause

A contract provision that prohibits a physician from providing services to any other entity during the contract term. Common in radiology contractor agreements. Limits your ability to moonlight, read for other groups, or take coverage assignments.