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Calculate break-even point to choose in-house or external recruiter
Forget signing bonuses and other up-front salary incentives-recruiting a physician becomes costly before compensation even enters the picture. Factor in advertising to find a candidate and interview expenses, such as airfare and lodging, and the administrative costs of recruiting a physician can average between $20,000 and $50,000.
But a physician vacancy isn't cheap either, often resulting in hundreds of thousands of dollars in lost revenue. Facilities must be willing to spend money to bring the right physician in, but finding the most economical strategy can lead to a substantial savings.