RECRUITERS
Inhouse Recruiter ASPR - Association of Staff Physician Recruiters Employed by Healthcare Entity Concerned about retention
Agency Recruiter NAPR - National Association of Physician Recruiters Commission-based sales agents Fee of $15- 20,000 cost to the entity
PRACTICE SEARCH WEBSITES
MedScape (MedBulletin.com) Physicians on Line (MDDirect.com) ASPR (aspr.org) PracticeLink (practicelink.com) Physician Employment (physemp.com) Specialty:(ACP - acponline.org, AIM -
annals.org, AAFP - aafp.org) General (JAMA - jama.-assn.org, NEJM -
nejm.org)
Practice Search Timeline
ACP 25-30% of residents commit one year
ahead of graduation Indicates that 50-60% of new grads will
change practices within the first five years
Practice Search Timeline
14-12 Months Prior to Graduation
Decide on the type of practice options (academic, clinical, locums, solo) that fits your needs
List the quality of life attributes required and desired Ask others (prior graduates & current) what they are
doing and why Collect information on practice search techniques Determine income and benefit requirements Prepare your CV and cover letter
Practice Search Timeline
12-10 Months Prior to Graduation Choose practice locations based on criteria Select practice rotations at these sites if possible Send out your CV Use contacts to investigate opportunities Talk with references---prepare them for calls or
letters Collect Chamber of Commerce and community
information
Practice Search Timeline
10-6 Months Prior to Graduation Narrow interview choices to 5 or less Talk with the Administration & Physician Leader you will
work with at each location prior to the interview Continue to scan ads and internet sites Clear your schedule for interview time and prepare to
switch call with others if needed Identify a lawyer and financial advisor Consult your advisor & Program Chair regarding locations Do additional Research on the practice opportunity with
drug reps, nurses or other third party contacts
Practice Search Timeline
6-3 Months Prior to Graduation Final negotiations Prepare for relocation needs House hunting Licensure, Credentials and Hospital Privilege
preparation Prepare for office set up
Practice Search Timeline
3 Months to Arrival - Personal Relocation Banking, insurance, schools, churches, mail, phone,
utilities start up preparation Practice Start-Up - office, equipment, appointments,
medical society Paperwork, details Move in, meet people Practice marketing Orientation
The Site Visit Dress professionally - you never get a second chance to
make a first impression Call ahead and clarify what you would like to see, who you
would like to meet Bring extra copies of your CV Come prepared with a list of questions Bring your spouse, send them off on their own itinerary Bring children older than 12 years (they have an opinion) Ask for time to explore on your own Clarify which visit expenses will be covered Do not order large lavish meals on the employer’s account
The Site Visit (Cont’d)
Ask questions and investigate the competition.
It is not ethical to interview with the competition unless they split the bill
Coordinate visits when possible: lower cost, convenience.
Visit your two top choices a second time, if possible
Ask to meet with a banker and a mover on the second visit
Post Interview Process
Make a Pro & Con list, for each practice opportunity
Interview at least 2 places, try to limit to 5
Review contract with an attorney, expect to pay $150-300.
Review benefit package with a financial planner
Could save you thousands of dollars & help compare offers, $150-300
Post Interview Process (Cont’d)
Compensation & methodology - ask for it in writing
Contract: termination, amendments, assignability, bankruptcy, arbitration, benefits, non- compete clause, malpractice insurance
Clarify the next step and decision date required
Job Search Tips
DO NOT-
EXPRESS-
CLARIFY-
Discuss salary until it is clear you are wanted.
Enthusiasm and interest, but do not accept immediately.
Expectations, specifics of responsibilities, compensation, benefits.
Job Search Tips
INFORM-
FOLLOWUP-
COUNTER-OFFER-
DO NOT-
Other employers when you are about to accept the other position. Be prepared for enriched offers. Know your options before you decide.
With all other employers as soon as you make your final decision.
If you know the offer is low by informing the employer. Be confident of your facts and ask for understanding.
Continue to interview after you have accepted an offer. This is unethical.
COMPENSATION
MGMA(Medical Group Management)
Modern Healthcare
Medical Economics
Ask Colleagues, Faculty, Recruiters
Academy, Specialty Associations
PHYSICIAN COMPENSATION:*2001 MGMA REPORT BASED ON 2000 DATA
Family Practice w/OB
25%(New Grad)
Median 75%
Income $128,527 $153,965 $198,933
Gross Charges $313,128 $395,686 $486,306
PHYSICIAN COMPENSATION:*2001 MGMA REPORT BASED ON 2000 DATA
Family Practice w/o OB
25%(New Grad)
Median 75%
Income $122,712 $145,121 $178,127
Gross Charges $297,870 $366,892 $451,354
PHYSICIAN COMPENSATION:*2001 MGMA REPORT BASED ON 2000 DATA
General Internal Medicine
25%(New Grad)
Median 75%
Income $126,327 $149,009 $178,796
Gross Charges $297,237 $367,738 $468,824
PHYSICIAN COMPENSATION:*2001 MGMA REPORT BASED ON 2000 DATA
Hospitalist
25%(New Grad)
Median 75%
Income $134,477 $151,013 $183,385
Gross Charges $263,463 $343,961 $479,000
Median Income by Geographic Region
Eastern Midwest Southern Western
IM $144,978 $141,569 $160,417 $152,242
FP w/OB $144,175 $156,471 $155,692 $179,178
FP w/o OB $134,172 $138,649 $163,019 $147,964
Hospitalist $141,273 $144,000 $170,550 $146,359
BENEFITS
Vary widely: Financial Advisor helpful Get it in writing: addendum to the contract Disability: portability, taxable, own
occupation, cancelable, renewable Pension:
defined benefit, defined contribution Matching for 401K,403B know the other risks, responsibilities
The Essential “Web” StudyHow Physicians Look for a Job
Independent survey
Commissioned by:
New England Journal of Medicine
Demographics of Respondents -- Specialty
133
95
4120
-13
37
87
137
187
237
287
1st Qtr
IMFPIM SubsCard
Methodology
Surveyed 1000 physicians Used AMA list on an nth name basis Received 287 responses (28%
response)
Demographics -- Continued
85% of respondents were ages 25-40 92% have been in their position for 4
years or less 28% said that they were looking for a
job now
What Sources for Job Leads Did You Use When You Last Looked for a Job?
66%
41% 40%33%
31%
0
10
20
30
40
50
60
70
ReferralPrint AdsRecruitersDirect MailWebsites
Which One Source Did You Find Most Useful?
55%
15% 14% 4%8%
0
10
20
30
40
50
60
Source
ReferralPrint AdsRecruitersDirect MailWebsites
Transition from residency to practice
Michael Griffin
Mayo Health System Administration
284-9114