Practice_Acquisitions
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It’s the new normal in today’s health care system: hospitals and health systems are scrambling to acquire private practices and employ more physicians in their search for greater market share. But sometimes in their rush to ramp up their practice acquisition, they begin the process of acquiring a practice just as it is growing and engaging in their own physician recruitment effort. The growing pains associated with adding additional providers coupled with the changes that occur during a practice acquisition can cause issues that can derail a physician recruitment effort.
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So what can you do to mitigate any negative impact this would have? Below are five steps you can follow to help ease any issues when engaging in a physician recruitment  during a practice acquisition.
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1. Meet with the Current Physicians

The first step in removing any roadblocks is to meet with the physicians currently in the practice. Get an idea of how they have approached the recruitment effort so far, what they have done to source candidates, and what they have told existing candidates regarding the situation. Knowing where you stand will help you establish a narrative.

 

 

2. Establish a Narrative

 Create a narrative regarding the situation that you will present future candidates with, as well as one that you can present to existing candidates to place the situation in the most positive light possible.

 

 

3. Highlight the Perks of Employment

There are many perks to being an employed physician. Enhanced stability, more administrative support, greater bargaining power, and better technology are all aspects of hospital employment that appeal to many physicians. When speaking to current and prospective candidates, highlight these positive aspects of hospital employment and make sure to have all of your ducks in a row to make the transition as smooth as possible.

 

 

4. Establish a Process

With more players having a say in the hiring of a new candidate, it is crucial to establish a process and a set of expectations in regards to who will communicate with candidates throughout the process and when. By creating a process with each player’s role within it and setting certain expectations, many speed bumps that one would encounter in this situation can be minimized or avoided altogether.

 

 

5. Keep Lines of Communication Open

As with establishing a process, keeping the lines of communication open is very important  in order to ensure a smooth physician recruitment process during a practice acquisition. Private practices that are not used to taking the opinion or their employer into account when making hiring decisions might find this particularly difficult, but in order to ensure that nothing falls through the cracks, constant and open communication is necessary.

Recruiting a new physician while going through the process of being acquired can cause plenty of issues. From candidates losing interest to things falling through the cracks due to a lack of communication, a recruitment undertaken during an acquisition can create a host of problems. But by following these five steps and working as a team during the recruitment process, the traditional issues many face can be avoided.