The hidden math behind physician hiring costs and recruitment

Summary: Most doctors know how much they get paid, but very few know how much it actually costs a clinic to hire them. It is not just about paying a salary and a signing bonus. There is a hidden chain of costs that can add up to over $420,000 for just one doctor!

When a clinic needs a new doctor, it takes about 4 to 6 months to find one. During that time, the clinic loses a lot of money—sometimes $250,000—because there is no doctor to see the patients. Then, the clinic has to pay recruiters up to $60,000, plus moving costs and expensive medical licenses. Even after the doctor starts working, it takes time for them to get fully up to speed. Because of all these hidden costs, it can take a clinic almost three years (about 35 months) just to break even and make their money back on a new hire. This means keeping a good doctor around is incredibly valuable!

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