Many hospitals are beginning to recruit physicians while they are still residents because of the physician shortage, according to a report in The National Law Review. Indeed, 52 percent of physician residents and fellows who graduated in 2013 had job contracts signed by March, according to a survey conducted by Cejka Search, while just 31 percent of 2012 graduates did.
The article, penned by Christopher Shaughnessy of McBrayer, McGinnis, Leslie and Kirkland, PLLC, calls the process of recruiting a president "straightforward" but notes the following two written agreements between the organization and the resident are usually required:
• Resident stipend agreement. The hospital or health system will pay the resident to cover educational and living expenses. The stipend payments are "secured by a promissory note," according to the article, which makes the payments a forgivable loan. Once the resident is employed, the payments are forgiven over time by the organization.
• Employment agreement. The resident being recruited commits to being employed by the hospital or system after graduation for a set amount of time.
More Articles on Recruiting Physicians:
5 Stories About Physician Engagement, Recruitment Strategies
Bringing Them Home: What's Gained When Hospitals Recruit Hometown Physicians
Physician Mergers are Booming: What Do Interested Physicians Need to Consider?