The Business Side of MedicineThe Business Side of Medicine

Practical Insights for the Practical Insights for the Graduating ResidentGraduating Resident

How to Interview and “Be How to Interview and “Be Interviewed”Interviewed”

• The Interview Process• Decisions, Decisions, Decisions…• Preparing for the Interview• Getting the Job!

The Interview ProcessThe Interview Process *Selecting an Opportunity

Geography Lifestyle Practice *40/60 Rule (Professional vs. Personal) *Average Length of a Search is 8 to 12

months

Decisions, Decisions, DecisionsDecisions, Decisions, Decisions

• Types of Opportunities:Employment – HMO/Private Practices/

Multispecialty Groups, etc.Partnerships – Expense Sharing/

“Associate” statusSolo – self-employed/Hospital

sponsorships

More Decisions …More Decisions …

• Types of Opportunities – Rural vs. Urban• Sourcing methods – Top 6

Telemarketing NetworkingDirect Mail Physician Fairs Advertising Internet

• Contingency vs. Retained Search Firms Fees - $18,000 to $24,000 per placement

Preparing for the InterviewPreparing for the Interview

“DRESS FOR THE JOB YOU WANT, NOT THE JOB YOU HAVE…”

What not to wear……………>>>

More….More….

No No’s…..

More…More…

Casual is not “in” ….

Now that’s more like it….Now that’s more like it….

• Try this –

And if you’re interviewing in Texas …And if you’re interviewing in Texas …

This is probably “OK” …

Preparing for the InterviewPreparing for the Interview

Know the Recruiter …Know the Players …

Know the Decision-Makers …Prepare your Questions Ahead of TimeDo Your HomeworkBring your Significant Other

Questions to Ask When Considering Questions to Ask When Considering EmploymentEmployment

• First questions should NOT be about salary, benefits, time off …

• What are the Long-term goals of the practice?• What is the practice profile?• How many physicians are employees vs. partners?• What is the practice’s reputation in the community? (ask a nurse at the

Hospital)• How are decisions made in the practice?• How will new patients be divided up in the practice?• What is the typical patient load expectation?• What is the collection ratio in the practice? Who does the billing?• What is the partnership track and is it defined in writing?

More Questions …More Questions …

• What type of ancillary services are used in the practice?• Are there satellite offices and where will I be located? Is travel expected?• What are the obligations of Staff membership at the Hospital?• How long is the current lease for?• Do any spouses work in the practice?• Do physicians in the group hold leadership positions at the Hospital?• Are specialists readily available in the Hospital and general area?• Are there opportunities for teaching?• Do PA’s or NP’s work in the office? Am I expected to precept?• Does the practice have professional management?• Marketing expectations?

Role PlayRole Play

Time to Interview

Getting the JOB!!Getting the JOB!!

Remember … The average graduating resident keeps their first job 2.4 years