Physician Compensation and Recruiting Essentials
The overall goal for this course is to prepare health care professionals to effectively determine clinical needs within their organization and effectively recruit a physician to fulfill those needs. An executive taking this course will be able to clearly define the opportunity for a physician who will be relocating to the community, advertise the position, interview interested candidates, and secure a provider utilizing best practices for long term success and retention.
As a result of participating in this course the student will be prepared to correctly analyze national financial benchmarking data relevant to physician compensation, structure an appropriate incentive model, define a target market of potential candidates with the requisite training and certifications. The student will be able to articulate factors affecting the current physician shortage, and the organizational value of respective medical specialties.
- Articulate the overall process and detailed sequential steps necessary for achieving positive physician recruiting outcomes.
- Learn how to identifying a physician staffing need and define the opportunity.
- Understand the origins and consequences of the physician shortage, how it is affecting the way physicians practice, and the ability of hospitals, medical groups and other organizations to recruit and retain physicians.
- Examine trends in physician supply and demand including specialty specific demographics and measures in the Patient Protection and Affordable Care Act intended to increase the supply of primary care doctors.
- Be able to discuss the effectiveness of various advertising modalities and techniques including social media, job boards, hospital’s and group’s human resource department websites, direct mail, cold calling, and word of mouth via referrals from existing staff.
- Be able to define the vast array of physician compensation models prevalent in the industry today, and the strategic advantages and disadvantages of each.
- Become prepared to design or assess the structure of a physician bonus incentive plan for rewarding physician productivity based on Relative Value Units, collections, leadership responsibilities, profit share, quality and other metrics.
- Learn how to effectively benchmark a guaranteed financial offer based on the practice, schedule, expected volumes, location, respective medical specialty and individual physician.
- Differentiate proven physician sourcing methodologies and interviewing techniques.
- Be able to handle the necessary logistics to conduct an onsite visit for a physician and family so they can be appropriately interviewed while feeling welcomed and recruited.
- Articulate the psychology of the decision making process for physician recruitment.
- Participants should have successfully completed at minimum an undergraduate degree in a related field.
- Participants must be able to commit significant time to completing assigned readings, case studies, and interactive sessions.
- As needed to complete, up to 6 months from enrollment
- This course is completed entirely online
- Self paced, with routine interactions with program director and instructor