The best way to recruit for difficult geographic regions is to offer a great package deal, with partnership option after the 1st year. The offer should include a sign-on bonus, relocation reimbursement, health insurance/life insurance/long term disability, the ability to keep 70% of what they collect, plus a guarantee of a base salary until they are actually receiving reimbursement for their services (probably 2 months), 4 weeks vacation and 1 week CME, plus a CME allowance. Keep in mind that a lot of doctors don’t want a partnership – they simply want to share overhead and build the practice. That is where the LLC comes in handy. You can all practice under an umbrella wherein you all share expenses, but you eat what you kill. That is an incentive to really work hard to build your part of the practice, and it will keep physicians there long-term.
This blog was contributed by Elizabeth Lee, President, PRS, Inc, a physiatry practice management and billing company in TX, [email protected], 800-324-4777.