How To Negotiate a Contract

In business, you will come across many contracts and business dealings.

We can help your practice stay on top of the latest healthcare news, rules, regulations and trends. Subscribe to stay current and up to date on important matters that will impact your practice. (To subscribe to our blog ).

Many of our clients often negotiate business deals every day. As ‘handshake deals’ are largely a thing of the past, it’s nearly impossible to negotiate a deal without a contract.

Some contracts are very simple, others are lengthy, complex and contain a lot of boilerplate legal language.

No matter the scale or type of contract, it’s essential to review them carefully and know what is in them. Look for potential issues and hidden consequences. You want to make sure the contract has benefits for both sides. Ensure your interests are protected. If details that are favorable to you are not clearly spelled out, make sure to negotiate that those details are included.

Also, know the law. Some terms have default terms under the law, if not spelled out in the contract. This can change a deal for better or worse. It’s essential to discuss your arrangement and contract with an attorney.

When negotiating a contract, it’s important to know your limits. Know what you can accept from the other party and what terms are not agreeable. But also, know your limits for contracting. Make sure to contact an attorney if you don’t have in-house counsel.

Finally, if you can’t come to an agreeable contract, walk away. Unless the contract is essential to your business and there is no other vendor, it’s not worth it to agree to an untenable contract.

Negotiations are tough. Make sure to reach out for the support you need from your legal counsel, business team, and leadership.

If you have questions about contracts, negotiations, or business law, contact Rickard & Associates today!

We publish vital information on health law topics and news every Wednesday and Friday. To get this important information delivered directly to your mail box, enter your email in the Subscribe box today!

Do you need help with updating your Business Associate Agreement or negotiating contracts with third-party vendors? We can help. Contact us today about your Business Associate Agreement, your vendor contracts or your other legal needs!

Related Posts


Recent Posts

Getting Remarried? Here’s What You Need to Know
March 21, 2024
What is the Biggest Threat to Healthcare?
January 30, 2024
How Can I Simplify Estate Planning?
January 11, 2024
I Have a Trust. Now What?
December 7, 2023
Breaking: Corewell Health Breach
December 5, 2023


Subscribe to Our Newsletter

Subscribe and get your FREE copy of Easy Guide to HIPAA Risk Assessments

An essential tool for all healthcare providers, Easy Guide to HIPAA Risk Assessments breaks down the requirements of HIPAA so you can successfully complete your required risk assessment. (an $8.99 value)

Thank you for subscribing to the Rickard & Associates healthcare blog. You'll receive a confirmation email shortly. After verifying your subscription request, you'll be sent to the "Easy Guide to HIPAA Risk Assessments" download page.