#273: Finding A Medical Director 101: When Do You Need One, How Can You Find One, & How Much Should You Pay One?

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Jason A. Duprat, Entrepreneur, Healthcare Practitioner, and Host of the Healthcare Entrepreneur Academy podcast, jumps on the widely-requested topic of Medical Directors. Do you need a Medical Director? How do you find a Medical Director? How much should you pay a Medical Director? Tune into this episode as Jason dives deep into each of these questions.

EPISODE HIGHLIGHTS

  • A Medical Director's role would include overviewing everything clinical-related in your practice such as protocols, forms, standing orders, etc.
  • If you don't have a healthcare license, you need a Medical Director to oversee your practice.
  • In some states, a physician is required to be the Medical Director, and sometimes, even own the medical practice.
  • A workaround would be to run a Management Services Organization.
  • As a provider (e.g., physician or nurse practitioner), you may or may not need a Medical Director. Review your state's Nurse Practice Act to see if you can practice independently.
  • To find a Medical Director, start by scouring your network. The best case scenario would be to partner with someone you know, like, and trust.
  • Another method would be to post on job sites with a thoroughly detailed job description. Look for state regulations regarding Medical Director's roles and responsibilities, put a salary, and hire them part-time at first.
  • Another platform to look into is: https://medicaldirectorsnow.com/
  • Be prepared to pay a professional salary.
  • A Medical Director’s fee would be somewhere in the range of $750-$1,500 or more per month, depending on various factors.
  • There have been instances when businesses shut down due to the absence of a Medical Director, so always have a backup plan.

3 KEY POINTS

  1. Do you need a Medical Director? – Review your state’s Nurse Practice Act
  2. How do you find a Medical Director? – Through networks and job sites
  3. How much should you pay a Medical Director? – A professional salary

TWEETABLE QUOTES

“Trying to find the cheapest way is not always the best idea. You usually get what you pay for.” – Jason A. Duprat

“You are paying for valuable service and you should be ready to compensate people on your team according to the amount of value they're delivering.” – Jason A. Duprat

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Email: support@jasonduprat.com

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