Be Realistic and Balanced.

Try to get a clear understanding of what you are looking for geographically, professionally, financially and personally. Make sure that what you want and what you need are balanced and clear. Do not be unreasonable or unrealistic…Keep all avenues…all locations open! For instance, where you would like to live and where you can make a good living are not necessarily in the same locale. A Cardiologist may want to practice in Hawaii. What he or she may really need, however, is a large enough patient population to build a thriving practice. Before shopping for a practice opportunity, you should have some path of your financial plan and the type of practice, work patterns and lifestyle that you wish to have in the years to come. Unless restricted by Medical or family reasons, keep an open mind to all Practice opportunities and locations!

Involve your spouse.

Healthcare Organizations, Physician Groups and Employers all understand that the Physician's Spouse is at least 50% responsible for any decision to relocate. It would be wise and enthusiastically encouraged to discuss early in the process what your spouse's interests and desires are and be certain that they are taken into full consideration during the search and interview process.

Allow your Source Medical recruitment specialist to work in unison with your spouse to get questions answered ahead of the interviews and to serve as an additional set of eyes and legs in the Practice search efforts. Employers may pay for the spouse's site visit and a separate itinerary to examine recreational, educational and other options while the physician is examining the hospital/medical facilities.

Prepare your questions.

Interviews are busy and time consuming. Though it may seem overly formal, prepare a written list of questions. Among them should be:

• Number of patients seen by existing physicians
• Revenue derived from managed care
• Descriptions and evaluations by existing physicians of managed care plans
• Fees charged per office visit
• Percentage of overhead
• Prevailing charges for patients in service area
• Percent of staff turnover
• Collection rates
• Other buy-in proposals
• Hours existing physicians work
• Physician to population ratio in the area

Confirm financials.

A VERY IMPORTANT POINT TO REMEMBER: Unless the employer initiates the topic, do not talk about compensation on the first interview...

Allow the interviewing party to initiate the compensation discussion. Compensation has been found to be on the average number 4 in the list of criteria in selecting a Practice opportunity behind Opportunity, Compatibility and Location.

You should get some sense of compensation, bonus, incentive, benefits, vacation, CME and educational time and partnership potential, among other things. A candidate that is well trained, personable, thoughtful, and is enthusiastic about the opportunity, will most likely get an offer rather than the one that is bland, dull and states that he or she is "just looking." or states…"I am just in the initial stages of my search efforts!" The Administrators, Physicians and decision makers you will be speaking with place a high value on their time…just as you do; however, they are wanting a Physician that is in the mind frame of "NOW" versus “later”!

The income guarantee.
What is it? Is it net or gross? Is there a "forgiveness period?"

The salary.

Find out more details. Does it include a production bonus, incentive and exactly how does it work? Do the terms and expectations sound reasonable and realistic? How does it compare with what your specialty is earning nationally and locally? .

The payor mix.

What kind of patients and how do they pay. Get a breakdown on private, insured and the managed care mix in the area? How much uncompensated work do the physicians do? Is the Hospital, group, or practice financially stable?

Insist on meeting with the physicians who will have an impact on your practice. You may also ask yourself, "Did I represent myself in a positive and approachable manner?" "Did I convey to them that I appreciated their time?" "Did I/we have good eye contact during our conversation?"

Think about what it would be like to live and work in this community. Rent a car and tour the community. Check out the real estate, schools, and recreational areas, and places that you would most likely frequent. Can you see yourself and/or your spouse and family living here? If the opportunity is wrong, you will know it and feel it within a day or so. On the other hand…If it is right, move quickly. Tell your interviewer, administrator and the doctors that you want the practice and accept it immediately. If you do not, someone else will…believe that, someone else will!

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