Don't Overpay For Physician Recruiting

Right now, you may be thinking about hiring a new healthcare provider and asking yourself, “How much should I pay a physician recruiting firm?”

According to Forbes, placement fees are typically “a percentage of the employee's first year compensation package and can range from 15% - 25%” of the individual’s total annual income. But what does that mean in dollars?

If we look at Medscape’s 2020 Physician Compensation Report, we see the average annual full-time primary care physician salary is $243,000 and for specialists it’s $346,000. If we use the average salary for a PCP, that comes to approximately $36,000 in a placement fee on the low end of 15%.

There is certainly a cost to recruiting, especially in a field as competitive as healthcare staffing, but it’s difficult to see a justification for fees of over $30,000. As technology has improved, so has the cost of doing business - but the fees that traditional recruiting firms charge have not changed.

CHS Recruiting was founded on the belief that recruiting services should be accessible to all practices. Our fees are much lower than the industry standard, but our services are not. We find savings simply by embracing technology and working smarter instead of harder, which in turn reduces our overhead and allows us to pass that value on to our clients.

Most recruiting firms try to hide their fees or drag prospective clients through a lengthy negotiation process. We do the opposite. We charge a low flat fee that takes the guesswork out of what it will cost to hire a provider. Our placement fees start at $6,000 for a part-time nurse practitioner or physician assistant and top out at $10,000 for a full-time physician (of any specialty).

CHS Recruiting is now in its seventh year of business and we’ve seen exponential growth every year. This is largely due to satisfied clients returning to us, as we have been able to present qualified candidates to 90% of our clients within 30 days. As with many industries, someone is going to come along and figure out how to get the job done cheaper, faster, and better. We are proud to be one of those companies.