Q&A Competing for Physicians
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Hiring a new physician for your practice is more complicated than it used to be. New physicians entering practice are in short supply, and hiring an experienced MD is incredibly challenging. Here's how you can compete in this new landscape.
Currently employed physicians are working longer hours and have to cover call more frequently -- This all equates to higher compensation for recruited physicians, both senior and new.
According to MGMA over half of graduating residents receive between 51-100 solicitations. If you work with a hiring firm such as SpineSearch it will bring your practice more attention. SpineSearch attends many national events geared at Residents & Fellows and when they are looking for candidates with a retained job in hand your practice has very good exposure in this competitive, physician, hiring landscape.
The recruitment arrangement exception allows practices to seek assistance from a hospital under the Stark Laws prohibiting physician self-referral. This allows your medical group to seek assistance, when hiring physicians and offering competitive packages which may include medical school debt repayment assistance, guaranteed salary, paying recruitment firm fees, or continuing education allowances.
New Physicians are not only looking for a job but also to see the total package that will help them succeed in their new practice
1. Offer guidance in new methods of patient acquisition such as social media (FaceBook, Twitter, Patient Blogs….)
2. Offer guidance in new methods to work with referring physicians using new media (LinkedIn, Physician facing Blogs, writing for online patient facing websites & peer review websites …)
3. Provide some assistance with the groups general marketing practices….One of the scariest things to new physicians is how to gain a patient base that will substantiate their pay
Selecting the right physician candidate for your practice is never easy, and there's always an element of the surprise. Taking this into consideration you can increase your odds for success by carefully evaluating each candidate in relationship to the needs of the practice and the specific position you have to offer.
One example: Work-life balance has been cited numerous times, by many publications, as one of the most important considerations among young physicians. According to multiple surveys the number of physicians who choose to work part-time and or flex time has increased dramatically in recent years. More doctors are likely to be women who, historically and statistically, will be more likely to seek part-time or flex-time working environments. These women are talented doctors and just because they are looking for flex time shouldn’t mean to ignore them. This actually presents a very interesting hiring tool when trying to effecentiely and economically staff your practice. The industry has an ever increasing gender shift and medical practices have to remember new physicians are planning families.