#12 How Do You Know When To Hire Your Next Physician? [Pediatric Practice Management MediaCast]

Recently, Chip and I saw a question posted on the SOAPM listserve that addressed this notion of when is it the right time to bring on a physician. We thought it was a great discussion topic so we decided to dedicate an entire episode surrounding some of things one ought to consider when bringing on a new doc. To give you a heads up, below you’ll find part of the email that was submitted to the listserve.

I recently interviewed a potential MD candidate. She looks fine on paper and was nice enough in the interview. But how do you know if someone is going to be right for your practice? My practice is small so bringing in a bad apple would cause a huge problem. Plus, she is the only person I have interviewed. I would love to have more choices from which to select. How does everyone else go about recruiting? I can’t exactly run a want ad in the local paper…

…since I have never done this before nor have I ever been solicited by a practice for employment, how do I structure a new MD package? Salary vs production? Salary for a while and then production? At what point? And how much? What benefits? How specific do I outline work hours, call duties, etc? What happens if I can’t stand the person I hire after 3 months?

Finally, how do I even know if my practice is ready to bring in another MD? What numbers do you look at? Perhaps I should just get a scribe and bust my butt for the next 6-12 months to see if I can absorb the patient load myself without adding someone else right away?

We hope you enjoy this episode and remember, give us feedback.  Positive or negative. We don’t care (well, actually we do care). We’d love to hear from you.

Here are ways you can catch the episode. Enjoy!

Pediatric Practice Management MediaCast

iTunes

Google+ PPMM Community Page

4 thoughts on “#12 How Do You Know When To Hire Your Next Physician? [Pediatric Practice Management MediaCast]”

  1. This is a great topic. The decision to bring on an associate physician is especially difficult for a solo practitioner. This usually happens when the solo doc feels overworked and needs some relief, or wants to bring someone on board to eventually take over the practice. The problem is that the practice may not be able to support two doctors. Plus, the owner may not have factored-in the pay cut he/she needs to take in order to support the new associate…they are obviously taking over some of the coverage and need to be compensated accordingly. A lot of times the economies of scale and efficiencies envisioned by having an associate do not materialize either. Bringing on another doctor is actually quite a complex economic calculation which needs to be made. While the the hiring and selection process is critical, the financial groundwork and forecasting needs to be done long in advance of the hiring process itself (and often isn’t). I see this all the time in the practice management consulting work we do for pediatric practice clients, as well as all the other medical specialties we work with.

  2. Thank you for a great mediacast. I am currently looking to hire, more for lie style like you had to than anything else. Very helpful!

    1. Glad you enjoyed it Dr. Una.

      Hiring is a big deal. Especially for small practices. We learned the hard way that you can’t take this process lightly. And don’t always rely on your gut feeling. You need to do the due diligence; measure twice, so you only have to cut once.

      Thanks for stopping by and leaving a comment.

      @PediatricInc

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