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***The costs
listed below are not reflective of ProMedical Staffing’s
recruitment services or fees, they are examples based on MGMA
reports in WorldatWork Journal 2009 of national averages of
common expenses incurred through the physician recruiting
process. For information on our fees and how we can help
save you costs, please contact us at 1-888-317-1412.
*Data and tables below are from Drew Erra and Michael Hogue, M.D.,
WorldatWork Journal, Third Quarter, 2009, pgs. 57-63:
Typical Costs of Identifying, Interviewing and
Relocating a Physician
Interventional Cardiologist Recruitment
Direct costs of recruiting:
Advertising (Internet, print ads and mailings) $4,500
Site visit (travel, lodging, car rental, meals) $2,000
Second visit for home search* $2,000
Relocation costs
$15,000
Signing bonus
$40,000
Search firm fee
$30,000
Total $93,500
Opportunity Costs are often considered when
evaluating the Costs of Recruitment
Interventional Cardiologist Recruitment
Opportunity
cost of an unfilled position over one year:
Lost practice revenue (net)
$1,124,000
Lost hospital revenue (net)
$2,662,000
Total lost revenue
$3,786,000
Total cost of recruitment:
Lost margin at 20% of
total
$757,200
Direct recruitment cost for successful candidate*
$93,500
Travel expenses for 5 unsuccessful candidates
$10,000
Total
$860,700
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