Leadership | 02.19.20
How to Attract Provider Talent to Your Practice
by NAMSS Staff
Medical Economics (02/03/20) Pratt, Mary K.
Small and independent practices often face challenges in competing for talent against larger entities with more resources for recruitment, compensation, and retention. Prospective staffers are often unfamiliar with smaller practices and why they can be good places to work, as younger physicians typically train at hospitals or in larger practices. Independent practices should use professional networks and physician associations to look for candidates who come from rural areas, in particular. Independent practices should also work with medical schools, vocational schools, and area colleges to attract potential candidates. To offer the most competitive compensation possible, small and independent practices should start budgeting for new positions at least a year ahead of recruiting and hiring. Offer ownership arrangements whenever possible, structure compensation to reward hard work, and find other ways to boost the total compensation package. This could mean establishing a profit-sharing arrangement for employees.
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