Evaluating Practice Opportunities for Physicians
In order to select a medical practice, the new physician should prepare himself or herself by learning how to evaluate and critically appraise the following practice management issues.
Personal and Family Issues
- Geographic location and community size
- Professional and other opportunities for present or future significant other
- Availability of cultural, recreational, sports and entertainment activities
- Personal and family privacy issues within a community
- Quality of and access to schools
- Housing availability, cost and location
Professional and Vocational Satisfaction Issues
- What types of positions are you interested in pursuing? Permanent versus locum
- What would be your preferred practice profile? For example: office/daytime clinics, emergency shifts, academics, obstetrics, surgical assists, consultations, etc.
- What would you accept as an acceptable on-call schedule?
- Would you prefer working in a small or large group practice? Do you understand the differences, benefits and obligations of association vs. partnership group practice?
- Do you require any special equipment or facilities?
- Is there adequate availability and access to hospital resources, operating room time, consultants and coverage?
- Do you want to have the opportunity to teach residents or medical students?
More specifically when assessing a particular community ask the following questions:
- Are they up-to-date with the latest medico-political issues i.e.: alternate payment options?
- Are the existing group members open to change (practice style/remuneration)?
- What are the overhead costs and office administrative responsibilities?
- Would there be someone who would act as a mentor?
- Do the local physicians and community have a vested interest in your success?
Income Issues
- Do you understand the different remuneration options? i.e.: Fee for Service, Alternative Payment Plans (Family Health Network, Family Health Group, Community Health Centre, Northern Group Funding Plan, Community Sponsored Contract)
- How many weeks per year, days per week, hours per day, patients per day will you have to see to generate a realistic gross income to pay overhead and taxes, and to then take home a reasonable income?
- What incentives are offered in the community? Can you take advantage of the Free Tuition or Underserviced Area Program Incentives?
Recommendation for Formula of Success
Address personal and family issues before you evaluate the professional and financial issues.