One Big Way You're Wasting Money On Recruitment

Aug 09, 2021

Recruiting healthcare providers is expensive. AAPPR reports $20,000 as the average cost per physician search. Then consider the average annual total searches per recruiter can range from 5 to 60. On the low end, that’s $100,000 to find the necessary providers; on the high end, it’s $1.2 million. And that doesn’t consider the loss of revenue while those positions stay open. 

Suffice to say, recruiting requires a balance of effectiveness and fiscal responsibility. 

You use recruiting firms that do the work for you instead of working with you as an extension of your team.

You know the old saying “give a man a fish and you feed him for a day; teach a man to fish and you feed him for a lifetime”? It’s time to start thinking like this when you choose a firm to support your hiring efforts. We’ve compiled a list of questions to ask yourself when deciding if a firm is right for your facility.

Will this firm build a positive reputation for my facility among providers?

It’s no secret physicians don’t have the best relationship with recruiting firms. So choosing a firm with a positive provider relationship means a better reputation for your facility. Despite being a separate entity, a recruiting firm may be the first interaction a candidate has when entering the hiring process. Inline focuses on doing what’s best for the candidate, which encourages a strong first impression when interviewing with your facility.

Will this firm teach my hiring team how to be more effective recruiters?

At Inline, we prioritize coaching our clients on best practices. The most important? Communication. Did you know 70% of candidates lose interest in an employer if they haven’t heard back within one week? We know you have a lot on your plate—that’s why our team keeps track of where candidates are in your hiring process. We’ll keep you on track so you don’t lose out on candidates to other employers.

Will this firm build a pipeline of candidates for my facility?

This relates back to question #1. Think of your candidate pipeline as a social network. Adding a candidate to your pipeline doesn’t mean you’ll hire them for this opening. However, you’ve established a connection and in the future, when you list another opportunity, candidates will already have a positive relationship with your facility, thus making your job much easier in the long run. At Inline, our priority is building you a candidate pipeline to make future recruiting efforts that much more effective.

Remember, recruiting doesn’t have to cost a lot to be effective. You just need a recruiting firm working as an extension of your team. If you have questions on how to educate your facility about best recruiting practices, schedule a consultation online to speak with a member of our team!




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Now that we've fed you the veggies, how about some good news? Once you matched into a residency program, the general salary for a first-year resident is $52.5K. Though you may not be jumping out of your shoes, there are many programs available beyond your initial salary that can help you chip away at those lingering debts. For example, a ten-year plan would pan out to about $2,000 per month in payments (with $182K in loans). 

Solution number one is to finance your debts through a private lender. This could provide you with a lower interest rate, but you’ll have to pre-qualify first via few factors, including your credit as well as your current income. Solution number two is to consider working for an organization in a state that offers a student loan assistance program. Though it varies by area, certain states can knock away a considerable piece of those loans in just a few years. In Texas, the Physician Education Loan Repayment Program offers up to $160K for over four years of practice in a Health Professional Shortage Area (HPSA). In New York, Doctors Across New York provides an additional payment of up to $150K over a five-year commitment to doctors practicing in underserved areas.

The student loan forgiveness state programs are a valuable resource, and should be taken into serious consideration when deciding on a destination and facility of choice. Perhaps you’re thinking of immediate relief, or more of a short-term solution. To be honest, that is not really feasible with $200K in debt. But, when negotiating your “dream” role, it is important to use that as an opportunity to obtain a possible sign-on bonus as well as relocation assistance to help ease the burden, at least temporarily. Keeping a positive mind-set, and considering all possible solutions, can help you achieve your goals of financial growth and stability as a physician.

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Imagine you see an online job posting. You’re pleased with your current employer, but if a better opportunity presented itself, you’d be interested. In this case, you see a job with a great company and it would cut your commute time in half. You click on the listing, quickly scan it over, make a mental note to return to it later, and move on with your day. 

We all know what happens next: you completely forget you ever saw it. We all see thousands of ads per day. The odds of your one ad being remembered are slim. This is where digital marketing steps in. Remember the job listing you clicked on and forgot about? Since you engaged with the ad, you’ll eventually see a similar ad again. 

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Ask yourself why this position is not working out for you, is it because of salary, hours, or location? What position are you wanting to transition into and why? Carrying on from why you are leaving your previous position for another; what are you seeking to improve or gain more experience in?

Hopefully by identifying your job history and maintaining a balance when transitioning from one job to another, you should have no problem in avoiding job-hopping.