Physician Job Search: Electronic or Old Fashioned Outreach?

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It's no secret that the internet has drastically changed the way most individuals find jobs these days, and physicians searching for their ideal employment arrangement are no exception.  In fact, there are dozens and dozens of physician job search websites, claiming to post the latest job openings, and helping you land in your perfect professional spot.  The disconcerting notion still remains, however- "what if I miss that perfect job?"

As the various physician employers utilize a number of different avenues to fill their open positions, it's hard to be certain that you are getting a comprehensive view of what might be available. After all, there are always those employers who have so many qualified candidates contacting them for a job that the employer literally has to spend zero time and effort advertising an open physician job position.  These reasons together make it extremely important to ensure your physician job search is both comprehensive and thorough.  You may find many leads and exciting prospects on the physician job search websites, but remember those are only the positions that have not already been filled by word of mouth.  Making a wrong job move can be extremely costly for both you and your potential employer.  In many states, if you don't like the first job you take, you may have to move yourself and your family to avoid breaching a non-competition covenant, not to mention possibly forfeiting moving allowances and signing bonuses to break your contract early.  It's obvious that much pain and expense is saved if you find your best job match right from the get go.  That is why a thorough customized physician job search is highly recommended- don't make the mistake of falling into the first job opening you find.

Let us help you find your ideal physician employment arrangement.  Visit us at www.lauthoneill.com.

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Physician Job Search Emphasis on Teamwork: What's It All About?

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As recently reported in an article from AMed News, a physician job candidate who showcases teamwork ability is likely to stand out from the crowd among other candidates.  This article was commenting on a recent poll taken by the Medicus Firm, which found that 78% of hospital CEOs who are already part of or plan to form an Accountable Care Organization ("ACO") want to hire doctors who are team-oriented.  Unfortunately for these CEOs, 58% of them indicated that between zero and half of their employed physicians were a good fit for an ACO.  So what does this all mean to physicians who are job searching now?

The new emphasis on team work is stemming from various payment overhauls called for in the Affordable Care Act ("ACA").  Such payment reform measures range from bundled payment programs to the formation of ACOs.  In both instances, the way in which physicians are paid will change drastically.  Medicare has historically paid physicians on a fee-for-service basis.  Under the ACA payment reform provisions, the future holds new Medicare payment models that will instead pay for better outcomes and efficiency.  For example, bundled payment pilot programs are underway that reimburse a group of providers for treating an entire illness or surgical encounter.  Not only does the single bundled payment cover a hospital stay, but also the surgeons' fees, the rehabilitation therapy needed afterward, the long term care hospital stay, if necessary, etc.  Under such programs, providers are incentivized to find ways to treat patients more efficiently and collaboratively.

Additionally, with the advent of ACOs also comes a new push for physicians and other providers to collaborate with hospitals and other facilities in order to provide the most efficient care possible.  An ACO is a group of coordinated healthcare providers that use a variety of quality metrics and cost reduction measures in order to lower the cost of the health care it provides to patients.  Under the ACA's main Medicare ACO program, when an ACO saves Medicare money by treating a patient at a lower cost, the ACO will be rewarded by splitting the savings with the Medicare program.

These two main payment reform measures from the ACA are resulting in much banter about the value placed on physicians who can work well in a team setting. So for all of the younger physicians out there who are beginning their physician job search, it makes a lot of sense to keep these changes in mind as you draft your cover letters, CVs, and attend interviews.  If you can emphasize your ability to work effectively as a team member, and to be open to new ways of providing efficient care to your patients, you are likely to stand out from the crowd.

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Physician Recruiter vs. Physician Agent: What's the Difference?

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When I tell people the name of my company, and before I'm able to describe exactly what it is that I do, folks often say, "oh, sure, like a recruiter?" My response is, "no, exactly the opposite, actually." Physician recruiters are hired by hospitals and other large physician employers to find and vet out appropriate physicians to fill an open position. I, on the other hand, as a physician agent, work only for physicians. If I were to also be recruiting physicians on behalf of a hospital, that could be a direct conflict of interest. Even when it comes down to following different people on Twitter, I am very conscientious about how my followings might be perceived. I am dedicated to focusing only on what my physician clients are interested in. I do not work in any capacity to fill open positions that hospitals might have. While it is a happy ending when a hospital fills a position with a physician who was seeking what that position offers, my job is to first make sure I know exactly what my client is looking for, and then seek out employers who may be able to offer it. A physician agent is not supposed to stop at advertised positions that employers are trying to fill- a thorough and zealous physician agent will leave no stone unturned by talking with all potential employers, including those who may not be advertising any open positions at all.

So, in the simplest of terms, the main difference between a physician recruiter and a physician agent, is the physician recruiter is working for the physician employer, and is paid by the same. A physician agent is working exclusively for the physician, and if they work the way I do, is only paid when the physician accepts their employment contract. This distinction is extremely important, and cannot be overstated.

To learn more about the physician agent services we offer and our Premier Opportunity service, in particular, click here.

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Physician Employment Contracts: Termination Provision Tips

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One aspect of physician employment contracts that are often overlooked are the termination provisions. When physicians sign an employment agreement without having it reviewed by a health care lawyer, there is a good chance that the contact included unfavorable termination provisions. For instance, it is important for physicians to know how to protect themselves in instances where the employment arrangement terminates for some reason that is no fault of their own. Unfortunately, it is common for unfavorable contract terms, such as non-competition covenants, to continue to be enforceable despite the termination of the employment due to some fault of the employers. Many physicians find this possibility shocking, but this sort of language can be easily amended at the suggestion of a physician agent or physician health care attorney.

A second type of common and unfavorable termination provision is one that allows the employer to terminate the employment agreement without cause, even where no similar termination right is available to the physician. It is desirable for both parties to have a termination right that allows either party to terminate the agreement upon a breach by the other party of a material contract term and failure of the breaching party to cure the breach within a set number of days. A mutual term such as this is balanced and fair and is one example of the reasonable terms physicians want to negotiate into their employment agreements.

For more information on how we can assist physicians in negotiating their employment contract terms, please visit us at www.lauthoneill.com.

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The Physician Job Search: Why the Mixed Numbers?

In a survey completed by WebMD in 2012, physicians fessed up to their dissatisfaction in their current jobs.  In fact, only 23% of surveyed physicians said, if they had to do it all over again, they would return to their current practice setting.  What's more, almost half of surveyed physicians said they feel their compensation is unfair.  I personally found these results to be somewhat surprising.  I was surprised by these numbers because, in my mind, physicians, of all professionals, seem to be in the best position to choose the job they want, and to receive the compensation they feel is fair.  After all, we often hear that there are gaping physician shortages, especially in certain regions of the country.  So why then are more physicians not able to say they are happy in their current jobs and with their current pay? One possible explanation is that physicians are often hasty in accepting their first job offer.  Not only are physicians typically under immense pressure to pay off incredible student loan debt, but they are also often hesitant about delving into the contract negotiation process.  These reasons sometimes lead to premature acceptance of a job that will certainly pay the bills, but may not offer exactly what the physician truly wants out of his or her job.

A second explanation is that when young physicians enter the world of practicing, they have not yet been exposed to various practice settings or certain employment arrangement possibilities.  After all, they've been slaving away as residents and fellows for the past few years, and pretty much any employment arrangement is going to look better than what they're used to. So it's easy to see why young physicians are quick to accept any job offer that includes a salary with 6 numbers.

While it might be comfortable for young physicians to accept a job in the same practice setting they're used to after their training, or it might seem to make the most sense to accept a job in the completely opposite practice setting (i.e., going from academic to private), I would encourage residents and fellows to take a broad look at the various different practice settings available before choosing one.  It may end up that the same academic setting they're used to is a great match for them, or shifting to a smaller setting may be the right move, but it's impossible to know until you get a feel for the variety.  It is also hugely important to have a detailed legal review completed of your contract.  Given that most physicians are entering an employment setting with an employer they have not yet worked for, it is important to be sure that you have the maximum legal protection in case the job doesn't turn out as hoped.

For more information on how a physician agent can assist in the physician job search process, please visit us at www.lauthoneill.com.

Physician Employment Contract Negotiation Tip #1: Know What You're Worth

If you're finishing up residency or fellowship, you've spent the last 4, 5, 6, 7, maybe even 8 years being paid about 18 cents per hour. Now you're out there looking for your first "real" job. So when someone comes along and offers you a 6-figure salary, it's tempting to accept it, no matter how unfair the offer actually is. Unfortunately, some employers are anxious to take advantage of young physicians who are desperate to take any job that will help them begin to pay off their enormous student loans. So many times young physicians wind up accepting compensation under their physician employment agreement that is not up to par with market standards. After all, it's hard to know what the market standard is when you don't have access to national physician compensation benchmark data. That is where a physician agent can help you. In providing our Premier Opportunity service to our clients, Lauth O'Neill utilizes our access to the MGMA and other important surveys to ensure that our clients receive the compensation and benefits they deserve. Before you accept a physician employment contract offer, be sure someone is looking out for your financial and legal interests.

Physicians, Pro Athletes, & Musicians Alike- All Benefit From an Agent

I founded Lauth O'Neill Physician Agency because my professional and personal experiences taught me there is a need for physician agents.  Not only do physicians benefit from having someone in their corner, looking out for their interests, but they also need a "go to" person who can take on many of the tedious tasks that come in searching for a new job.

In my experience as a health care attorney, and combined with being married to a physician, I have naturally crossed paths with many physicians.  Many of them are at the beginning of their careers, and once they receive a job offer, they often ask me if it is necessary to have a lawyer look at the employment agreement.  My answer is always a resounding "YES!" And often times, I perform the legal analysis myself.  I have worked on both sides of physician employment.  And after serving hospitals and other group practices as my clients, I am acutely aware of what employers do to make a physician employment contract extremely favorable to themselves.  This, of course, often means the contract is unfavorable to the physician in certain ways.  Not to mention, they almost never offer compensation and benefits at the levels trained physicians can expect based on national benchmark data. So yes, the need for physicians to have their employment offers reviewed by a lawyer has always been very clear to me.

What I had not experienced until recently was the immense amount of time and effort that goes into finding and securing a physician's ideal employment arrangement.  In assisting my husband in his recent job search, I gained an intimate understanding of numerous steps that go into a successful physician job search.  First, locating the opportunities that fit your professional desires, then communicating with the potential employers to let them know you're interested and qualified, and interviewing multiple times with the same folks- this is only the beginning of the process.  Once an offer is made, then the hours spent on this task really start to climb.  Physicians not only need a legal review of each offer completed, but they must also endure what seems to be endless back-and-forth with the potential employers to ensure they receive the compensation, benefits, and terms they have earned.

In talking with my husband's colleagues about the trials and tribulations of their job search processes, the rhetorical question has often been posed: "Can't I just pay someone to do this for me?"  I only had to hear that question once before I recognized the need for physician agents.

As a physician agent, it is my goal to do all that is necessary to make my clients' job search not only successful, but as little of a burden to them as possible.  Therefore, I provide our Premier Opportunity service so that physicians can simply tell me what sort of job they are looking for, and in what region, and I will go to work finding their options.  Seeing the physician's job search process through to the end, the Premier Opportunity service includes every crucial step that allows physicians to find and shape their ideal employment arrangement.  I am excited to make each next clients' success my priority.