Frequently Asked Questions
Tell them that you are represented by Primacea and introduce them to us.
We will work with you to determine your level of interest and what you would like to accomplish. We will then negotiate the relationship on your behalf.
Laws, regulations and policies apply to all relationships, no matter the size. As a result, even small engagements could include provisions or actions that could expose you to unknowingly violating laws, increased personal liability or restrictions on your research or other consulting. Moreover, for instance, industry contracts often include provisions that (i) restrict your ability to provide services to other industry partners, (ii) limit your ability to make disclosures about that relationship or (iii) expose you to personally through indemnity obligations.
No. The hospital engages legal counsel to review and make changes to contracts in order to protect the hospital's interests, not yours. In some cases these interests align with yours, but they often do not. None of these provisions impact the hospital, but they could certainly impact you personally. Finally, the hospital’s counsel cannot represent or otherwise advocate on matters relating to your personal compensation.
Primacea represents you, not your hospital.
No, the fees are included in the services we provide to physicians.
Moreover, in today's environment, it is risky to not have these contracts reviewed.
There are two factors to consider. The first is whether you are being paid fair market value for your efforts. We use our knowledge of industry compensation practices and our proprietary models to determine the appropriate rate for you. The second factor is what portion of your time should be compensated (i.e., preparation, research and/or travel).
No, Primacea is not a law firm. We have retained Company Counsel, LLC to serve as the general counsel for physicians in connection with their industry collaborations. The fees charged by Company Counsel for such general counsel services are paid by Primacea.
Primacea pays all of the legal bills from Company Counsel, LLC, which serves as your general counsel and reviews all of your contracts.
To the extent that need other legal services (i.e., patents, litigation, governmental investigations, tax, etc.), Primacea will assist you in locating specialist attorneys, who will bill you separately. Primacea and Company Counsel will to act as your advisor and your general counsel with regard to matters that involve specialists.
Primacea is not an accounting firm. Primacea provides invoicing, collections and bookkeeping resources to physicians and works with their existing accounting firms to provide information needed for preparing taxes. We recommend that physicians engage a CPA for accounting and tax services.
Yes. We provide each physician an annual summary of earnings and reimbursed expenses to facilitate the preparation of his/her personal income tax return.
If you don't have a CPA, we would be happy to make introductions to CPAs who we believe could be of assistance.
Primacea charges hospitals for services provided to their physicians.