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Typical Costs of Identifying, Interviewing and
Relocating a Physician
Interventional Cardiologist Recruitment example
Direct costs of recruiting:
Advertising (Internet, print ads and mailings) $4,500
Site visit (travel, lodging, car rental, meals) $2,000
Second visit for home search* $2,000
Relocation costs
$15,000
Signing bonus
$40,000
Search firm fee $30,000
Total $93,500
Opportunity Costs are often considered when
evaluating the Costs of Recruitment
Interventional Cardiologist Recruitment example
Indirect Opportunity
cost of an unfilled position over one year:
Lost practice revenue (net)
$1,124,000
Lost hospital revenue (net)
$2,662,000
Total lost revenue
$3,786,000
Total cost of recruitment:
Lost margin at 20% of
total
$757,200
Direct recruitment cost for successful candidate*
$93,500
Travel expenses for 5 unsuccessful candidates
$10,000
Total
$860,700
*Data and tables above are from Drew Erra and Michael Hogue, M.D.,
WorldatWork Journal, Third Quarter, 2009, pgs. 57-63:
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