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Every facility wants to secure great physicians who provide excellent care and plan to stick around for at least five years. Unfortunately, keeping your hospital or private practice fully staffed is easier said than done.
According to the most recent benchmarking survey from Association of Staff Physician Recruiters (ASPR), it takes an average of 222 days for a hospital’s in-house recruitment team to fill an open position. In many cases, this long hiring process results in significant revenue loss for the facility. Fortunately, locum tenens doctors can be a solution to your hiring needs. Not only does it take less time to get a locum into a position (usually about 60 days, and sometimes sooner), but using locum tenens ensures that your patients can still be seen, you can earn revenue, and that your existing staff don’t burn out.
You might be wondering how it could possibly take more than six months to hire a new physician. Here are a few reasons the hiring process can be lengthy:
When it takes nearly eight months to get another physician on board, what happens to the other doctors at your hospital or practice? They may become overworked and consider a new career altogether, or they may begin looking for other opportunities at a different hospital. Don’t risk losing more of your staff members while you’re trying to hire a replacement. Bringing locum tenens doctors on board can have the following benefits:
Hiring locum tenens physicians also ensures patients are seen more quickly and have no reason to look elsewhere for care.
You must also consider the cost of the locum provider, but by using the simple formula below, you can easily calculate the ROI:
If you hire a locum tenens doctor during that time, you’ll net 200 days of billable gross charges for the facility, adding up to $451,400 (based on the MGMA 2015 Report), even if it takes 60 days to get him or her on board.
Each day that a physician is not working, you’re losing revenue. For example, say it takes you 260 days to recruit a new family practice physician who accounts for $2,254 in daily gross charges. You could be losing out on approximately $586,000 before you fill the job.
All of these steps can add up to an additional 140 days before a physician can begin his or her new job, not to mention time needed for onboarding.
By hiring these professionals, you can maintain your revenue, provide quality care for patients, and help ensure that other staff members don’t experience burnout while you recruit a permanent physician for your facility.
Locum tenens staffing can help address staffing challenges in both rural facilities and hospitals in some of the largest metro areas of the country.
Hiring physicians to help your facility temporarily shows you’re committed to helping staff members achieve a better work/life balance and can lead to stronger employee loyalty.