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Recruitment, retention, and revenue: the three Rs of successful group practice management

Van Allen1

  • 1TimeLine Recruiting, 2103 Burlington, Suite 900, Columbia, MO 65202, USA. vallen@timelinerecruiting.com

The Journal of Medical Practice Management : MPM
|March 17, 2004
PubMed

Insights

Physician recruitment and retention are costly for medical practices. This article offers a financial strategy to improve physician recruitment success and retain doctors.

Area of Science:

  • Medical practice management
  • Healthcare economics

Background:

  • Physician recruitment is a significant expense for medical practices.
  • The financial implications of physician vacancies and turnover are substantial.

Purpose of the Study:

  • To examine the financial ramifications of physician recruitment and retention.
  • To provide a strategic framework for successful physician recruitment.
  • To offer methods for retaining physicians as an extension of recruitment efforts.

Main Methods:

  • Analysis of the financial impact of physician recruitment and retention.
  • Development of a strategic framework for recruitment.
  • Identification of retention strategies for medical practice managers.

Main Results:

  • Recruiting physicians involves considerable costs.
  • Failing to fill vacancies or retaining physicians incurs significant financial losses.
  • A strategic approach can enhance recruitment success.

Conclusions:

  • Implementing a comprehensive strategy for physician recruitment and retention is crucial for financial stability.
  • Retention efforts should be integrated into the overall recruitment strategy.
  • Medical practice managers can mitigate financial risks through effective recruitment and retention practices.

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