Here at Source Medical we focus on permanent solutions, not temporary ones, so all of our services are geared towards that type of conclusion. We do not assist with locum tenens.
We have 3 main services that drive our company. The primary service is contingency recruitment which is followed by the secondary services of Plan B recruitment (a hybrid between contingency and retained recruitment) and practice acquisition and sales.
We have included outlines of these 3 services below and have also provided a summary of our daily business activities. Please contact one of our Senior Consultants to learn more about us and our services or to find answers to any of your questions.
Contingency Recruitment
We promote and position ourselves as a contingency firm for permanent placement. This helps our clients maintain fluidity and flexibility throughout the year instead of being tied down by retainer fees. The reason it is called “contingency” is because a fee is only remitted if a candidate accepts your offer, so payment is contingent upon success. The contingency process is as follows: establish an agreement with us and send us a detailed description of your current opportunity. We will then find qualified candidates for you and send you summaries about them. After you get the summaries, you will check to see if you are already working with the referred candidates through another firm (the term for this is “clear the name”), if the name is clear then you mark us down as the firm of record and initiate the introduction and interview process. If this process culminates in an acceptance by the candidate then you remit us our fee for a successful placement.
Simple and easy.
Plan B Recruitment
A secondary service is a more dedicated program called Plan B. This is neither a retained search nor a contingency search; it is a hybrid program that combines the best features of both approaches.
Plan B can be implemented when a client requests our assistance with a critical opening that needs to be immediately filled because it is causing a significant revenue drain or a spectacular hardship to the organization. A reasonable up-front advance, which is part of the total placement fee, is remitted to us to initiate a direct search effort on behalf of your organization. This is a one time, and one time only fee. Unlike a retained search, there is no hourly billing, no recurring costs, no exclusivity rights, and no long-term commitments. There is no other billing to your organization until one of our candidates has accepted your practice; at that time our separate contingency fee is invoiced.
Other Program Details:
- Source Medical’s CAM Department (Candidate Acquisition and Marketing) will assign a Search Assistant to your critical opening and train them on the methods you have used to date, as well as the preferred selling points for your community, the details that make your employment package attractive to them, and your organization's history. The Search Assistant is then assigned to work in a concentrated effort for your organization for several months while the Senior Consultants also work on the opportunity.
- Source Medical will initiate and prioritize direct mail and electronic email campaigns to advertise on your behalf. We will, in conjunction with your team, determine the sources for Internet and periodical journal advertisements and determine the most effective avenues. The composition of the advertisements will be reviewed and approved by you before they are taken to market.
- We will NOT accept any other Plan B assignments for that specialty in your immediate area until we place a doctor with you. This assures that every asset will go toward your critical need.
Practice Acquisition and Sales
Another secondary service of ours is assisting in the acquisition and sale of a physician’s practice. We use the same avenues that are utilized in our other services to market the purchase opportunities and find potential buyers for the practices. The agreement can be written on either a contingency basis or a Plan B basis.
Summary of Daily Business Activities
We cannot disclose everything that we do, specifically, because of trade secrets, but a general overview should help you understand the type of work units that are being performed daily on your behalf. We gather candidates from several sources and call every candidate to screen and profile them (about 70 candidates daily). We follow up our calls with a personal email to the candidate as well; each consultant here makes a combination of calls and emails that surpasses 115 contacts a day. Overall, our team makes over 6000 calls in a normal week.
Additionally, our support team writes and posts advertisements on over a dozen different sources and sends several targeted marketing emails every day. We also maintain a database of over 100,000 candidates and purchase several new databases each year to add on to that resource and keep it updated.
We check email through smartphones 24/7, we work on the weekends, and we work from sunrise to sunset...
We are a highly efficient physician recruiting mechanism that can be activated to go to work for you on all of your opportunities or just a few special needs that require extra attention. Either way, we consider it a privilege to assist you and are looking forward to your call.
