Author: MedZygo

By Aimee Echevarria MDR HealthCare Search

If you’re getting ready to start your physician job search, you’re probably concerned more with finding the right position than what doing so might cost. Believe it or not, applying, interviewing, and accepting a new position can be quite expensive, especially for physicians. Because of this, it’s important for physician job seekers to budget for all the likely and possible expenses that can crop up during their job search.

Below are six of the main expenses physician candidates can expect throughout the recruitment process – and some tips on how to mitigate them.

 

1. CV Writing Services

Whether you haven’t updated your CV in a decade or are just too busy to put one together, many candidates turn to CV writing services when planning to start a job search. These services can run hundreds of dollars, so putting your own together can be a huge cost-saving measure.

 

2. Site Visit Travel Costs

Ideally, travel costs for in-person interviews that are out of state will be covered or reimbursed by your prospective employer, but that isn’t always the case. Organizations in larger, desirable cities will expect candidates to foot the bill for their own travel expenses for site visits. When you combine the cost of a flight (or multiple), hotel stays, meals, and transportation, these travel expenses can add up. To minimize your travel expenses, try to cluster site visits for multiple positions.

 

3. Legal Assistance

If you’ve gotten to the offer stage of your job search, it’s time to start reaching out to a contract attorney. A physician’s employment contract is a nuanced document with many provisions that can have a huge impact on candidates – both in and out of the workplace. Make sure to have an experienced attorney conduct a full review of your contract prior to signing to make sure you avoid any surprises down the line. While having outside counsel review your contract can get expensive for practicing physicians, many residency and fellowship programs offer contract review services to their trainees at low or no cost.

 

For physicians in the U.S. on a visa, the legal expenses don’t end here. Many of the physicians on an H1-B or J-1 visa will need to work with an immigration attorney to address any job search restrictions or to complete documentation. While some organizations have in-house counsel or immigration attorney’s on staff, the majority do not. In some cases, the healthcare organization will agree to cover all associated immigration costs, whether or not you use their immigration attorney, but make sure to ask before hand.

 

4. Licensing Fees

If you are graduating from a training program, or aren’t already practicing in the state you plan to take a position in, you’ll likely need to apply for a state medical license. The costs and wait times for state medical licenses vary, so it’s important for candidates to budget accordingly. Additionally, while many organizations will cover the cost of obtaining a license, not all will. Make sure to clarify whether or not that is an expense your prospective employer plans to cover – or whether you’ll have to finance it yourself.

 

5. Relocation

Most hiring organizations will assist physicians with relocation costs, making this seem like something a candidate wouldn’t need to worry about. But while organizations do help with relocation, most will only do so up to a point. Feel free to ask your point person within the organization if relocation costs will be reimbursed, and up to what amount, to avoid getting stuck with a several thousand dollar moving bill later.

 

6. Malpractice Coverage

Depending on the type of malpractice coverage you currently have, taking a new position might mean having to cover your tail. Tail coverage can be incredibly expensive, making this one of the biggest ticket items on this list. When in contract negotiations, be sure to request that tail coverage be included in what the organization will provide. While some may refuse to pay for tail coverage, others will include it in their total package.

 

Key Take Aways:

  • Always ask! Make sure to find out what is covered by the hiring organization during the recruitment process and in the negotiation stage to avoid any surprise costs.
  • Budget for legal fees, tail coverage, and licensing costs as those are less likely to be covered by an employer.
  • Take advantage of any in-house services the employing organization or your current training program have to save on costs.

 

By RM Medical Search

 

Staying organized during your medical job search will help you properly evaluate each job opportunity and may reduce the sense of being overwhelmed by all the options out there. Using the same set of criteria to evaluate each position, you will be able to determine if it fits your clinical, cultural and professional needs. Evaluate each community for your “fit” – leisure activities, professional options for your significant other, family choices and proximity to family or to an airport. Considering that you may look at 15-20 jobs in a fairly tight time frame, it is important to have a system to stay organized. The first rule: a notebook will be your most important tool during the whole medical job search process, write everything down, and be sure to write legibly so you can decipher your notes later on in the process. Get a couple of spiral notebooks, preferably with pockets in the covers, this will be useful on site visits.

 

First – let’s look at clinical and professional needs. Get out your notebook, think about your ideal practice and write down your answers to these questions. Are you seeking an employed setting or an independent group? If you are a surgeon, is a single hospital important to you or are you interested in multiple hospitals and surgery centers? What things are important to you as an individual physician – Call schedules or salary? Collegiality and mentoring? Do you prefer smaller groups or larger ones? Multi-specialty or single specialty? Also, are the types of cases important to you or are you looking for an academic setting or a hybrid opportunity to do some teaching in an independent practice? Do you thrive in a busy, intense setting or do you prefer a more laid back, quiet milieu? How important is loan repayment assistance?

 

Next, do the same for your needs in the community. Will you be moving alone or with a significant other or a family? Will you be considering the professional needs of a partner? Do you have children or a partner with special needs? Are nearby schools and colleges important to you? It may have been a long time since you have had the option to think about leisure time, but what do you like to do when you are not working? Do you want to be near to family? Or near to an airport? Do you prefer a certain climate or wish to be near ski or sailing destinations? Do you need parks, bicycle trails? Arts, museums, orchestras? Professional sports teams? Make lists – lots of them. Lists of your favorite pass times, types of food and restaurants you enjoy and favorite activities.

 

Refine your priorities. Create a list of your top five professional priorities. Remember your list will be highly individualized. Pick five and stick with them. Next, do the same for a community. Remember to pick your top five only. You have now created your personal priority list so when a recruiter asks you what is important in your job search; you have a clear idea of what you want. Now, you are ready to begin talking to recruiters and reviewing job boards. When you evaluate an opportunity, think about your criteria. Take notes about each job, think about advantages and disadvantages, jot down questions that arise. Do as much research on each position and community as possible before deciding to do a site visit. Remember to use discretion – you will only have time to do a few site visits, be sure you don’t waste your time and energy on locations that do not meet your criteria. Take thorough notes during your site visit, it will be helpful later.

 

Use your 10 criteria during the initial evaluation period and during your site visits. Most doctors do not make these decisions in a vacuum; ask your partner to make his or her own list for community criteria. They may or may not match your list, no matter. As you are traveling back home after a site visit, rank each of your criteria on a scale of 1 to 5, with 5 being the highest. You will have a possible score of 25 for clinical/professional and 25 for community fit. Write this down in your notebook. It is crucial to evaluate the position and community quickly after your visit. It is difficult to remember every detail of your site visit, and they will blend together if you do several visits. Ask your partner to rank the job as well, independently of your ranking, and share your thoughts only after you have completed the exercise.

 

When you are holding one or more offers, you will have a way to evaluate and rank the opportunities. This written record is a simple way to help keep you organized and establish a strategy for what can be an overwhelming amount of information. Additional tips: Use your cell phone camera to snap a few pictures; visual images will serve as memory boosters.

By Concrode Physician Source

Providers may ask themselves why respond to a recruiter versus submitting my CV directly to the hospital. What is the role of a recruiter?

The answer is….Searching for the right practice is a process. Practicing medicine is also a process involving several support professionals. Recruiters have a role to help you gather information and help you through the process. You cannot make a decision about a job or locums assignment until you have gathered the necessary information. This involves the practice details, volume, call, support staff, other providers, and financial package as well the city you will be working/relocating to.

It would be hard to practice medicine if you had to follow the entire process on your own. Imagine scheduling your own patients, prepping them in a room, drawing the blood, taking vitals, examining the patient and completing everything else by yourself. You rely on a team to practice effectively. Why is something as important as where you will work and possibly live any different?

Finding quality Locums assignments or the right permanent job is a very involved process. There are many moving pieces to the puzzle. If you submit your CV directly to a hospital you have very little information and fall into a deep human resources hole. At Concord(e) Physician Source, we team up with you to find out what is important to you. As a team, we will develop a list of what information you need in order to decide whether you want to accept an offer or a locums assignment. We will guide you through the process until the end. Recruiters are not decision makers (that is your role) we are information gathers and your advocate when necessary. This is why providers send their CV to recruiters.

Patients come to you for your medical expertise. Rely on a recruiter for professional career expertise. This is your livelihood do you really want to wing it? Consult a Concord(e) recruiter and benefit from our fifty years of experience.

by Jordan Search Consultants

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Are healthcare regulations and incentives about to disrupt physician compensation models again? Although there are many models of physician compensation in effect, each with its own rewards and risks, the uncertainty following the U.S. presidential election has made it necessary for physicians and medical systems to take a wait-and-see approach as to what comes next.

 

Here are some of the models currently in use:

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Fee-for-Service: This model focuses on paying for service with the focus on throughput and productivity. The risk with FFS is the tendency for overuse.

Fee-for-Value: The move to this model was meant to improve outcomes and reduce costs across the continuum of collaborative care. In the Fee-for-Value model, success requires a model to produce improved care outcomes while lowering costs of care.

Straight Salary: This simply means annual pay for doing the job. Misuse and underuse are both concerns with this model.

Pay-for-Performance: This model pairs compensation with predefined performance benchmarks. With P4P models, there is less chance for misuse, but overuse can result in a decrease in quality.

Capitation: This classic model of compensation is based on a fixed amount of patients per month.

Bundled Payment: Based on episodes of care across a continuum of healthcare professionals (individuals and teams) as well as organizations, this model lines up services with need.

Concierge: This model combines Fee-for-Service with an annual retainer. There is a low risk of overuse with this model because of the high cost.

ACO: This model is based on savings from which pay is determined by other metrics tied to the three goals (also known as the Triple Aim) of improving the patient experience of care—including quality and satisfaction, improving the health of populations, and lowering the per capita cost of health care.

Direct Contracting: This model pays physicians based upon a contract with an employer, eliminating the insurance intermediary. There is little to no value-based incentive, so the potential for overuse and misuse exists.

Production RVU: Based on a percentage of a physician’s productivity, the RVU stands for Relative Value Units—a RVU is given to each patient encounter, including procedures and surgery, and the physician.

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One of the objectives of the Affordable Care Act was to tie physician compensation to increased patient quality and outcomes. What comes next remains to be seen, but flexibility and adaptability will be a key to sustainability. How is your organization preparing for potential change?

by Jason Falkner, Medical Consultants of America

The State of Internal Medicine

Internal medicine physician jobs have been experiencing a trending increase primarily because of the condensed number of medical graduates pursuing a sub-specialty in this field. This has generated demand for internal medicine physicians. These physicians are able to leverage this when searching for jobs in their field and be more selective when it comes to salary, work hours and other employment conditions.

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by Aime Echevarria, MDR HealthCare Search

Over the past decade, healthcare employers have seen movement of physicians from solo and independent practice models towards the employed practice model. As the risks associated with the traditional “physician as entrepreneur” model have increased, many physicians are choosing to forgo the autonomy of solo or independent practices for the financial security and administrative support offered by large hospitals and health systems seeking to employ an ever growing number of physicians. This trend has only been accelerated with the implementation of the Affordable Care Act, which has introduced additional red tape and requirements to an already dwindling number of independent practitioners.

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