How much do you know about the various aspects of physiatry recruitment to include compensation, contracts, practice management?
Take this quiz and find out!
QUESTIONS
Question #1. Should you hire someone with a personality like yours?
Question #2. What are the two major reasons doctors leave their employer?
Question #3. How long does the average practice search take?
Question #4. Can a restrictive covenant apply to part-time work?
Question #5. What was the average physiatry compensation in 2019?
Question #6. When you leave a practice what items might you have to repay?
Question#7. What are the 3 main factors in determining the value of the practice in a buy-in agreement?
Question #8. What should you do to resolve insurance denials?
ANSWERS
Answer #1. No. Although it would seem that you should because you think you would get along better, studies show that this is not always the case. And, hiring someone with a personality unlike your personality is good in that they will have a different perspective which will broaden your practice’s abilities.
Answer #2. Contract loopholes and low compensation are the two major reasons doctors leave their employer.
Answer #3. The average practice search takes 6 months. This considers the time to find the physiatrist, interviewing, negotiation, licensing, etc.
Answer #4. Yes. Part-time jobs can also be considered for restrictive covenant clauses.
Answer #5. The average physiatry compensation in 2019 was $306,000.
Answer #6. Sign-on bonus, recruitment stipends, relocation, student assistance clauses often include requirements that you must repay them if you leave before a certain amount of time.
Answer #7. The 3 main factors in determining the value of the practice in a buy-in agreement are tangible assets, accounts receivable and good will.
Answer #8. Phone calling is often necessary to resolve insurance denials. It can be stressful and time consuming but it often resolves insurance denials.