As part of the Medical Group Management Association’s (MGMA) annual conference Oct. 21 to 24, industry experts will be presenting 30-minute education sessions on various topics in the Healthcare Innovations Pavilion in the conference exhibit hall.
On Tuesday at 1:05 p.m., Butch Powley, regional vice president of Cejka Search, a national physician and healthcare executive search firm, will present “What You Don’t Know Can COST You!”
The presentation, Powley told Healthcare Finance News, will focus on providing practice managers with ideas to take control of the hidden drivers of recruitment costs. “You can’t control your costs if you don’t know what they are,” Powley said.
Powley said he would detail the metrics, the cause, the cost and the cure for retention problems, make note of what processes can be measured so that practice managers can develop baseline benchmarks and show attendees how to quantify the major drivers of recruitments costs: high turnover, prolonged vacancy and an inefficient recruitment process.
Powley will also talk about the importance of aligning stakeholders on issues such as compensation packages and the other details of contracts. “… (L)ack of stakeholder alignment derails and delays recruitment, contributing to high costs,” he said.
It is vital that practice managers fully understand their recruitment and retention costs, Powley said, in order to solve the problems that drive those costs up.