Timeline for Transitioning into Practice

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Timeline for Transitioning into Practice

• Staci Larsen Smith, Associate Vice President
• HCA Physician Services, TriStar Division
• August 6, 2009

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Seminar Series

• Transitioning into Practice
• CV Preparation and Interviewing
• Finding the Right Practice
• Contracting 101
• Other Topics of Interest

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Taking Stock

• Where do you want to live?
• What kind of practice do you want?
• What family ties are involved?
• What about your spouses career?
• Have you considered your hobbies and other
  interests?

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Practice Search Timeline

• The time to start your search NOW!
• According to the ACP, 40-60 of new grads will
  change practices within the first five years

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24 Months Prior to Practice

• Plan a career strategy
• Collect data on regional workforce statistics and
  compensation
• Gather information on community demographics
• Research identify job opportunities
• Begin to market yourself
• Begin studying for Board Certification

Source ACP
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Data Gathering

• US Census Bureau
• http//www.census.gov
• State Economic Development Sites
• Example Enterprise Florida www.eflorida.com
• Info about where you live www.claritas.com
• State Health Facts www.statehealthfacts.org

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Finding the Opportunity

• Physician Recruiters
• Specialty Board
• Program Coordinators
• Medical Journals
• Internet Sites
• www.PracticeWithUs.com
• Hospital Web sites

• Career Fairs
• Ex. CareerMD
• Visiting Local Medical Offices
• Networking
• Hospital CEOs

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For practice opportunities, www.practicewithus.co
m
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Recruiters

• In House
• Employed by Healthcare Entity
• Concerned about retention
• Lives in the region/community
• Agency Recruiter
• Commission based sales agent
• Placement Fee of 20-40K cost to the entity
• National prospective often never seen location
  recruiting

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16-18 Months Prior to Practice

• Narrow your geographic locations
• Prepare CV and Cover Letter
• Identify who you want as reference and get their
  approval
• Understand physician compensation methods

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Compensation

• Research (MGMA, Salary.com, etc.)
• Consider the total compensation package,
  including all benefits
• Supply and demand, rural versus urban areas
  influence compensation
• What happens after the first year?

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12- 16 Months Prior to Practice

• Narrow interview choices to 5 or less
• Phone interviews commence
• Begin the interview and site visits
• Identify a healthcare attorney and accountant

Source ACP
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8-12 Months Prior to Practice

• Negotiate your contract
• Licensure, Credentials, and Hospital Privileges
  preparation
• House hunting / prepare for relocation needs
• Finalize and sign contracts

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Your Background Check

• Social Security trace and validation
• State and Federal court records
• Credit history
• Primary source verification
• Licensure
• Terrorism watch list
• DEA, Medicare, Medicaid
• Malpractice

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State Medical Licensure

• Start application process early
• Be honest and take your time with your
  application
• Resources available to help speed up process

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6-8 Months Prior to Practice

• Finalize your contract
• Medical Staff Application
• Managed Care Enrollment
• Hospital Orientation
• Banking, insurance, schools, mail, phone,
  utilities start up preparation
• Practice Start Up-office, equipment, medical
  society, paperwork
• Practice Marketing
• Move in, meet people

Source ACP
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Websites to Visit

• Job Databases www.practicewithus.com
• www.practicematch.com
• www.practicelink.com
• Health News www.healthleaders.com
• Contracts www.ama-assn.org
• Salary Info www.mgma.com
• www.salary.com
• General Info www.nejmjobs.com

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• Writing Help www.writinghelp-central.com
• Homefinder www.homefair.com
• Rates www.bankrate.com
• Demographics www.census.gov
• State Medical Boards www.fsmb.org
• You are where you live www.claritas.com
• State Health Facts www.statehealthfacts.org

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www.practicewithus.com/stipend
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• Questions ??