You've done it: You've found the perfect candidate.
You've done it: You've found the perfect candidate. But that's no surprise. You and your management team gave thoughtful, deliberate attention to recruiting a desirable physician for your practice. You took time to clearly define anticipated expenses. You prepared a fair and reasonable compensation plan. You successfully negotiated an agreement and carefully crafted the contract terms. Everything is signed... Welcome aboard, Dr. New!
Great job. Unfortunately, many recruiting plans come to a full stop at this point, failing to help Dr. New acclimate post-welcome.
Practices usually recruit when demand exceeds capacity, so it makes sense that physicians and staff -- burdened with their existing workload -- will have little time to dedicate to Dr. New. The result? Often, Dr. New becomes Dr. Gone.
Don't sabotage your stellar recruiting process by failing to structure an assimilation plan for your new physician. What a waste of everyone's time. To help you avoid this, here are some important factors to consider that will facilitate a smooth transition and improve your chances of retaining your new physician:
During the first month, your physicians and office manager should meet with Dr. New at the end of each week to discuss concerns and address any issues that may have emerged. Consider the new doctor's first six months on the job to be a tutorial on how your practice is run -- not just teaching him clinical expectations, but also what is required to maximize efficiency and keep your work flow moving.
Resist rushing this whole process. When Dr. New's first anniversary rolls around you'll be glad you did.
Judy Capko is a healthcare consultant with more than 20 years of experience. She is also the founder of Capko & Company (www.capko.com). Her emphasis is on improving practice performance by valuing staff, building patient-centered strategies, and making the most of resources. She is the author of the top-selling book "Secrets of the Best-Run Practices," Greenbranch Publishing. Judy has received national recognition in her field, working with both small and large practices, as well as major academic faculty practices from coast to coast. She is a popular speaker for major healthcare conferences and healthcare executive summits. She can be reached at judy@capko.com or 805 499 9203.
Asset Protection and Financial Planning
December 6th 2021Asset protection attorney and regular Physicians Practice contributor Ike Devji and Anthony Williams, an investment advisor representative and the founder and president of Mosaic Financial Associates, discuss the impact of COVID-19 on high-earner assets and financial planning, impending tax changes, common asset protection and wealth preservation mistakes high earners make, and more.