ROI Recruitment. Reten,on. Revenue. Cri,cal Success Factors for …€¦ · Determine the benchmark data points for building your ROI model. THREE 3 ROI Recruitment. Reten,on. Revenue.

ROI Recruitment.Reten,on.Revenue.Cri,calSuccessFactorsforGrowthandROI


WHATBESTPRACTICESDRIVERETURNONYOURINVESTMENTINRECRUITINGPHYSICIANS?Inves'nginbestprac'cesmakes“dollarsandsense,”when$1millioninannualrevenueperphysicianisatstake.

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Iden'fykeyperformanceindicatorsformeasuringtheefficiencyofyourrecruitmentprogram.

ONEDefineaccountabiliGesforleadershipandrecruitmentteamsthatimpact'metofillandreten'on.

TWO

DeterminethebenchmarkdatapointsforbuildingyourROImodel.THREE

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WhatistheKeytoROI?

RECRUITEFFICIENTLY

RECRUITTORETAIN

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FasterFillswithPhysiciansWhoFit!


BeFastandStrategic

§  StreamlinetheProcess§  ShortentheSearch§  ControlyourExpenses

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Source:MGMA,FamilyMedicinephysicianrevenueapprox.$1millionperyear

Accelera'ngaSearchby30days=$80,000+inRevenue


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JobOpportunityPreferences

MMSSource:2017RecruiterPhysiciansSurvey;www.mmslists.com


RiseAbovetheNoise

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UseSocialMediatogetNo'cedbyPassiveCandidates

Source:MDigitalLife

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…ofphysicians’mostpopularsocialmediaac'vi'esarefollowingcolleagues’discussions

60%

…ofdoctorsareusingsocialmediaforprofessionalservices66%

…ofhealthcareprofessionalsusesocialmediaforprofessionalnetworkinganddevelopment31%


MakeRecrui'ngaTopPriority

RecognizePhysiciansandAdvancedPrac'ceProfessionalsarethe#1AssetoftheHospital

MakeRecruitmentandReten'onaPriority

DevelopaReten'onCulture

BuildFounda'onofTransparencyandTrust

WorkwithRecruitertoOp'mizeStrategy

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ü  RecruitAggressivelyü  DragaWinningInterview

Team

ü  PayCloseAhen'ontoTimelines

ü  BeFlexible

ü  ThinkOutsidetheBoxü  BePreparedtoMakea

Decision

ü  MakeYourRecruiterYourBestAlly

ü  EngageLeadership

BeStrategic&AgileinRecruitment

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HowToWinTopPhysicianTalent:


“Myrecruiterputtogethertheperfectfit.Heexpeditedtheprocess,anditwentmuchfasterandmoresmoothlythanIhadan<cipated.”

PersonalizetheCandidateExperience

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https://vimeo.com/203472315


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Administra'onMedicalStaffPlanning• Posi'onAc'va'on• SearchFirmEngagement

• Marke'ngPlan

PhysicianRecruitment• CandidateAcquisi'on

• PhoneScreening

PhysicianChampions• PhoneInterview• Referencechecks

CEOandVPofPhysicianPrac'ceManagement• InterviewIncludesOne-to-OnewithPhysicianChampions

• Evalua'on• Hiring

SampleRecruitment&Reten'onProcess

ShareScreeningData

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CreateaCultureofReten'on

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HelptoCon'nueto

BuildRela'onships

AssistinProfessionalDevelopment

HelpAdjustPersonallytoNew

Environment

RetenGonbeginsduringtherecruitmentprocess

Studiesshowthatthehighestrateofphysicianturnover

occursinthefirstthreeyears,soworkextrahardearlyontohelpphysiciansfit,succeed,

andstay.

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RecruitforReten'onandDriveROI

PLUStheHiddenCostsofHighTurnover§  Orienta'on,creden'alingandtrainingcostsfornewphysicians§  Wastedadministra've'me§  Decreasedproduc'vity,lowmoraleandlostpa'entloyalty

TheRightHire:Recrui'ngcosts:$250,000Searchexpenses,sign-onbonuses,incomeguarantees,reloca'oncosts

TheWrongHire:LostRevenue:$1,000,000+$1,058,055avg.annualrevenueperFamilyMedicinephysician

TurnoverCostsWellOver$1MillionPerPhysician

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Source:MGMA,FamilyMedicinephysicianrevenueapprox.$1millionperyear


Op'mizeReturnonInvestment

BenchmarkRecruitmentMetrics

•  TimetoFill:Lessthan60days

•  AcceptanceRate:Greaterthan90%•  InterviewstoHires:Fewerthan3•  RecruitmentROI:InvestmenttoHireovertheRevenueGenerated

ValueoftheRightHirevsCostoftheWrongHire

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THANK YOU Visitoursitetolearnmoreatjacksonphysiciansearch.comORReachouttoourconsultantsdirectlyat866.284.3328

ROI Recruitment. Reten,on. Revenue. Cri,cal Success Factors for …€¦ · Determine the benchmark data points for building your ROI model. THREE 3 ROI Recruitment. Reten,on. Revenue.

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