The bloodline of every hospital is their primary care physician staff. Patient wait times, physician draw area, and ancillary support staff as well as equipment are all benefited by adding another physician to a hospital.
They say the best time to go to the grocery store is when your tummy is full. The same is true with recruiting another physician. The best time to add a new medical staff member is when there is not a critical need for one. You can look for the best long term fit instead of just trying to fill a vacancy or stop the bleeding as they say. Additionally, it is far more attractive for an incoming physician to join a team of physicians and have that knowledge base of the area to work alongside as they start to build their practice.
Many hospitals wait too long and end up having a physician leave unexpectedly; someone on the physician staff ends up retiring earlier than planned, someone has a medical complication and is forced into retirement early, or someone passes away. None of those items can be overlooked when thinking of the top reasons hospitals recruit a new physician. As our baby boomer physician generation enters the last few years of practice, we must make the most of every opportunity.
Family Practice average net revenue per week = $19,826.92
Internal Medicine average net revenue per week = $33,173.08
*Source: “Gauging the Financial Impact of Physicians on Hospitals” by Jim Lifton
Healthcare Financial Management Association, hfm magazine, April 2012.
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by: Nolan Smith, Director of Business Development at Fidelis Partners
phone: 949-325-7648
email: nsmith@fidelismp.com
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