RSS FeedCan You Afford To Retain a Physician Search Firm?
19 August 2010Can you, or your facility, afford to retain a physician search firm to expedite your physician recruiting efforts? That depends… do you need to hire physicians? If so, then the answer is yes, you can afford to retain a search firm. If you are not sure how that could be, consider this:
Depending on the medical specialty, physicians generate anywhere from about $700,000 to over $2.8 million in annual revenue for their hospitals where they provide care and refer patients.[1]
If you need to add just one doctor, (which is conservative, as most hospitals are recruiting multiple physicians), each day that passes without that doctor practicing in your draw area costs you anywhere from $2,000 per day for an ophthalmologist or nephrologist, to about $4,500 per day for a primary care physician. If you are lacking an orthopedic surgeon or neurosurgeon, your facility loses about $5,800-7,700 per day without that physician on staff.
With our total search and placement fees averaging at about $23,000 – $30,000 per physician, our physician recruiting service pays for itself within a matter of a few days of the physician’s start date.
Therefore, perhaps the question to ask is: can you afford not to retain a physician search firm?
More: See what clients are saying about us | Follow Us on Twitter | Visit us on Facebook
[1] Wall Street Journal, Health Blog, “Putting a dollar figure on a doctor’s worth to a hospital” March 17, 2010.
top
