Physicians Equal Revenue - Why Aren't We Concerned About Getting the Ball into the End Zone?

Jan 31, 2020

When did physicians become cost centers and not revenue generators? At my last two conferences, I heard repeating stories of budget cuts limiting the number of providers and/or physician recruiting resources.  

Correct me if I am wrong, but without physicians, we don’t have:  

Reimbursements or insurance
Labs, physical therapists, pharmacies, or radiology
Hospital admissions and administration
Nurses 

Yet, again and again, I hear from recruiters, administrators, or owners, it’s too expensive to hire a physician. I don’t have the budget. Really? Do you have the $850K to $1.5M it takes to cover the lost revenue when an open position remains open for a year? 

And surprise, the patients you aren’t seeing are moving to your competitors. 

And you have a lot of competition scrambling for those patient dollars.

89% of the market is looking for primary care providers.

I love football, so to continue the analogy, your physician is the quarterback. You need him to get the ball into the end zone to score. But, to make that happen, you need a really strong offensive front line. Enter your physician recruiters. They are the first contact a physician has with your facility. 

The ASPR Benchmarking Survey data confirms that the offensive line is wearing thin. The average organization has 45 openings and two to four recruiters. In 2012, a recruiter worked 20 searches, today that number is closer to 40. 

Have you ever really considered what goes into the hiring of a physician? The number of steps in your recruiting process can vary from 10 to 47. Within that process are thousands of details to manage and execute. Multiply that by 40 searches and those offensive linebackers are in need of a time out. 

Some 250 contacts are necessary to get three candidates to your facility for an on-site visit. If your recruiter is really good and your offer is competitive, you might hire one of the three.  

Maybe we need to rethink the make-up of our team. Without quarterbacks and offensive linemen, you are always playing defense, while the other team scores. 

Revenue = Physicians + Recruiting Resources

Do you want to score in your market, or are you happy playing defense? Time to consider some changes!