Tips for a Successful Job Search How to Evaluate

Transcript:Tips for a Successful Job Search How to Evaluate:
Tips for a Successful Job Search How to Evaluate Orthopaedic Practice Opportunities Ryan M. Dopirak, M.D. AAOS Annual Meeting March 2017 Disclosures I have no potential conflicts with this presentation Introduction The average orthopaedist will make 2-3 practice changes over the course of their career Up to 50% of orthopaedists will make a change within the first 2 years Introduction Changing jobs can result in a great deal of stress and significant financial losses Lost income Moving expenses Malpractice tails Repayment of signing bonuses Purpose Teach residents/fellows how to critically evaluate orthopaedic practice opportunities Learn more about what you are actually signing up for (before you sign a contract) Decrease likelihood that you end up unhappy Nobody cares about your well-being or your contract more than you do!!! Format List of simple questions to ask each potential employer Why are they recruiting a new orthopaedic surgeon? Why are they recruiting a new orthopaedic surgeon? They must demonstrate they have a need for your services Impending retirement of partner Desire to add new subspecialty area to practice Need to accommodate increasing patient volumes (population growth) Why are they recruiting a new orthopaedic surgeon? There are numerous groups who are looking to hire for reasons that benefit the group more than the candidate Trying to decompress call schedule Trying to dilute overhead Your buy-in will be a buy-out for a senior partner Attempt to increase group size to compete against other groups in their market (“nuclear arms race”) What is the practice setting? What is the practice setting? Single Specialty Orthopaedic Group Multispecialty Group Academic / University-Based Hospital Employment Single Specialty Group (SSG) Advantages Autonomy Ancillary opportunities Usually “eat what you kill” The classic “gold standard” Disadvantages Referrals not guaranteed Modest guarantee May require buy-in Multispecialty Group (MSG) Advantages Automatic referral base Competitive initial compensation package Disadvantages Average overhead is higher vs SSG Specialists sometimes “subsidize” PCP’s Academic Setting Advantages Prestige High volume of referrals Opportunity to work with residents/fellows Disadvantages Lower income vs SSG Level I Trauma Call Hospital Employment Advantages Competitive initial compensation package Guaranteed referrals Less administrative responsibilities, able to focus on your practice Disadvantages Limited autonomy Less opportunity for ancillaries vs SSG Hospital Employment Hospital-employed physician model is becoming more common MHA 2015 Review of Physician Recruiting Incentives 2004- 11% of searches were hospital-employed opportunities 2014- 64% of searches were hospital-employed opportunities 2016- 49% of searches were hospital-employed