Interviewing Part II: Inspection and Analysis
Part II of the interview process is your inspection and analysis of the potential employer.
First, you should investigate the work surroundings and any satellite facilities. You should note the work environment and also the people. Is the practice efficient? Are the offices clean and organized? Are the people welcoming? How long are patients kept waiting? If you do not have time to investigate after part I of the interview, you may need to schedule a follow-up visit.
Second, you should perform financial due diligence. Ask for fiscal information in a professional manner and be wary of a group that is unable or unwilling to produce basic financial documents. Your investigation will vary depending on the practice type, but you can focus your investigation on these general areas:
• The overhead-to-revenue ratio is one of the most important financial indicators. A group’s expenses should not exceed 50 percent of their revenue.
• Determine how the income distribution plan is structured. Are salaries divided evenly or productivity-based?
• Ask about the group’s long-term financial goals. The employer should be able to provide you with concrete and realistic answers.
• You should inquire about the group’s practice debt and repayment schedules.
• Ask for a list of the provider contracts and then investigate those companies and contracts, especially if one company is a source of a large percentage of the group’s patients.
Finally, the NEJM offers an interesting perspective on the internal due diligence that employers perform on their own group in order to ensure successful recruitment.
First, you should investigate the work surroundings and any satellite facilities. You should note the work environment and also the people. Is the practice efficient? Are the offices clean and organized? Are the people welcoming? How long are patients kept waiting? If you do not have time to investigate after part I of the interview, you may need to schedule a follow-up visit.
Second, you should perform financial due diligence. Ask for fiscal information in a professional manner and be wary of a group that is unable or unwilling to produce basic financial documents. Your investigation will vary depending on the practice type, but you can focus your investigation on these general areas:
• The overhead-to-revenue ratio is one of the most important financial indicators. A group’s expenses should not exceed 50 percent of their revenue.
• Determine how the income distribution plan is structured. Are salaries divided evenly or productivity-based?
• Ask about the group’s long-term financial goals. The employer should be able to provide you with concrete and realistic answers.
• You should inquire about the group’s practice debt and repayment schedules.
• Ask for a list of the provider contracts and then investigate those companies and contracts, especially if one company is a source of a large percentage of the group’s patients.
Finally, the NEJM offers an interesting perspective on the internal due diligence that employers perform on their own group in order to ensure successful recruitment.
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