The implementation of the Affordable Care Act has caused major changes in healthcare, one of which has been physicians’ increased preference for employed practice opportunities. As these physicians, many of them recent graduates, continue to flock to hospital-employed opportunities, it has become increasingly difficult for private practices to recruit additional physicians.
So how can private practices effectively recruit physicians at a time when employed positions are the preference of most physicians? Below are a few ways private practices can continue to attract quality candidates in a changing healthcare landscape.
Highlight Income Potential
In a recent Survey by the American Medical Group Association, 57% of respondents indicated income potential as a major reason for choosing a particular practice location. While a new physician recruited to a private practice may not make as much as he would were he in a hospital or medical group employed position, over time the physician would make significantly more. The key is to show a clear path to partnership and the long-term financial payoff in joining your practice to prospective physician candidates.
The bureaucratic red tape and organizational politics of hospital or medical group employment can be very off-putting to physicians. When recruiting new physicians to a private practice, the autonomy that comes with not being employed by an organization should be front and center. The increased flexibility, independence, and the ability to create significant relationships with patients is something physician candidates of all ages and backgrounds would find appealing.
Showcase Stability and Compliance
One of the main reasons physicians today are forgoing independent practice for employed positions is the stability offered by a large organization. While it’s true that these organizations offer stability, a well-run and thriving private practice can offer the same. By implementing EMR, having efficient office staff, and boasting updated facilities, independent practices can show that they are up to date and thriving. Additionally, participation in an Independent Practice Association can be quite attractive to candidates. Offering the stability of a large organization while still being a private practice offers candidates the best of both worlds.
The percentage of physicians in private practice may be declining, but that doesn’t mean that many practices out there aren’t thriving. By having a thriving practice, and marketing it effectively to prospective candidates as part of a comprehensive physician recruitment strategy, private practices can continue to recruit and retain top talent that will allow their practices to grow.