Under the model that traditional hospitals use to fill physician roles, they pay recruiters high fees to send out a lot of outreach. Not only are these recruiting services expensive for hospitals, but they also use a “spray and pray” approach that is ineffective in finding the right candidates, Flip MD CEO Lauren Hansen said in an interview.
Hanson co-founded FlipMD in 2020 with her husband Gregory as an online platform for doctors looking for part-time jobs in consultations. good medicine The company was acquired in February, and flipMD now operates as one of its subsidiaries.Wednesday, it roll out FlipMD Hire is a recruiting platform designed to help healthcare providers, drugmakers, and digital health companies find qualified physicians to fill a variety of roles—whether clinical, non-clinical, full-time or part-time.
Before founding the company, Hansons was closely associated with a career in the medical world as Gregory was a physician. They created flipMD to fill a gap in the market they couldn’t ignore – they knew that many physicians were looking for ways to make money outside of their clinical practice by doing project-based consulting at digital health and pharma companies.
Physicians who use FlipMD’s job search platform for consulting jobs say they can now more easily access an additional source of income, Hanson said. As the company announced this week, doctors now have a job search platform they can use to find not only part-time but full-time positions. Full-time jobs posted on the FlipMD platform include clinical and non-clinical positions in hospitals as well as digital health and biotech companies.
Hansen noted that when traditional recruiters flood doctors with information to fill vacancies, it “takes away a lot of ownership on the part of doctors and makes it harder for them to negotiate salaries.” She also noted that most messages from recruiters end up in the inboxes of physicians who are currently not interested in accepting new positions.
FlipMD is seeking to address these issues through its new recruiting platform by creating an online space entirely dedicated to physician career transformation. Whatever their specific goals, physicians should see the platform as a place where they can help change their career trajectory, Hansen said. Examples of these goals include transitioning to a new clinical role in a different geographic region, exiting clinical practice, serving as chief medical officer at a digital health startup, or taking a consulting role at a biotech company to help pay off student loans.
“Because staffing shortages and physician burnout are such a big problem, we’re creating a buffet so people can build their own hybrid physician careers for the future,” Hansen declared.
Physicians on the FlipMD platform can also get paid for referring qualified candidates. Hanson said the feature greatly improves clients’ ability to quickly find the right fit, as “each doctor may know about 200 other doctors” who are more in line with the job posting requirements they may encounter.
“We are incentivizing the community to recommend more qualified and interested candidates,” she said. “We do this in hopes of finding a needle in a haystack. I think the referral program is in many ways the secret sauce of the platform.”
FlipMD makes money by charging customers a fulfillment fee. Clients create a free account, post a position they need to fill, and wait for a FlipMD doctor to apply for that position. They will only pay FlipMD if their position is filled on its platform.
However, these flat fees vary by customer. For example, a seed startup looking for a chief medical officer pays about $7,000, while a large hospital pays about $25,000. Hansen noted that these fees are cheaper than those paid to traditional recruiters, which are typically 30-40% of a new hire’s salary.
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