Common use of Payment for Professional Services Clause in Contracts

Payment for Professional Services. In consideration for the performance of the Radiology Services set forth in Article 1, Practice agrees to pay VRP for Radiology Services provided during the period January 1, 2007 through December 31, 2007 a Diagnostic Compensation Fee (“DCF”) of $[INFORMATION SUBJECT TO A REQUEST FOR CONFIDENTIAL TREATMENT] per transaction. Practice shall pay VRP for Radiology Services provided during all periods after December 31, 2007 a DCF equal to [INFORMATION SUBJECT TO A REQUEST FOR CONFIDENTIAL TREATMENT]% of total charges that the Practice bills to physician groups and other customers. The DCF may be adjusted annually upon mutual agreement of the parties. The Practice and VRP agree that the fees set forth in this Article 3 have been established with consideration for the Practice’s engagement of VRP to provide Radiology Services as well as the substantial commitment and effort made by VRP, and that such fees have been negotiated at arms length and are fair, reasonable, and consistent with fair market value. B. The Amended DCF referenced above is not an “annual adjustment” referenced in Article 3 of the Agreement because such adjustment is not based solely upon the overall volume of diagnostic services provided as part of VRP’s professional services. C. VRP and the Practice each acknowledge and agree that the amended DCF has been established and negotiated at arms length, and is fair, reasonable and consistent with fair market value, and is being implemented solely to account for the lower obligations associated with changes in malpractice insurance rates and radiologist compensation. D. VRP shall pay the Practice in immediately payable funds the difference between (x) the aggregate fees paid pursuant to Article 3 of the Agreement for all transactions between January 1, 2007 and December 31, 2007, which fees were based upon the DCF in effect prior to the application of this Amendment and (ii) the aggregate fees payable to VRP for all transactions between January 1, 2007 and December 31, 2007 giving effect to this Amendment.