The aesthetic and plastic surgery fields have experienced a dramatic shift in physician recruitment over the past 25 years. The rise of private equity, practice consolidation, and an aging physician workforce have all reshaped the landscape.
In Dallas, Texas, one firm stands out for its innovative approach to these challenges. Steve Look, founder of Paradigm Search Group, shares his insights with Ailm magazine, detailing his company’s unique “white glove” approach to physician recruitment, specifically tailored to the aesthetic and plastic surgery specialties.
Question:
What are some of the biggest shifts you’ve observed in physician recruitment, particularly within the plastic surgery and aesthetic fields, and how has Paradigm Search Group adapted to these changes?
Steve Look:
One of the most notable changes has been the influx of private equity investment into the aesthetic and plastic surgery space. This has led to consolidation in some markets, with independent practices being acquired by larger groups, changing the dynamics of physician recruitment.
Paradigm has adapted to this trend by working with both independent practices and consolidated private equity platforms.
For independent practices, we provide guidance on evaluating the potential benefits and drawbacks of private equity partnerships versus recruiting a partner and remaining independent. Each situation is unique and may or may not be the right option for the practice. We also work directly with private equity firms to help them develop and execute their recruitment and growth strategies.
Question:
Your recent placement in Honolulu after a year-long search by the client speaks volumes about Paradigm’s effectiveness. Can you share some of the specific strategies and insights that led to this successful outcome, and what makes your ‘white glove approach’ so unique?
Steve Look:
Our success in Honolulu stemmed from our deep understanding of the client’s needs and our ability to source a candidate with strong ties to Hawaii. This candidate had grown up on the islands and was interested in returning, making it a perfect match.
Our ‘white glove approach’ ensures that every step of the recruitment journey is handled with care and precision. We begin by conducting thorough consultations and on-site visits to gain a deep understanding of the practice’s culture, values, and specific needs.
This allows us to identify candidates who are not only qualified but also the right fit for the practice. We then manage the entire recruitment process, from sourcing and screening candidates to coordinating interviews and negotiating contracts. Our goal is to make the recruitment process as seamless and efficient as possible for our clients.
Question:
Physician recruitment, especially for specialized fields like plastic surgery, can be incredibly competitive. What are some of the most common challenges that practices face when trying to attract top talent, and how does Paradigm Search Group help them overcome these hurdles?
Steve Look:
Physicians and practice managers are already incredibly busy with their day-to-day responsibilities, leaving them with limited time and resources to dedicate to recruitment. A lack of bandwidth makes it difficult for them to navigate the complexities of the job market, including understanding competitive compensation packages and staying up-to-date on the latest trends.
Paradigm Search Group helps practices overcome these challenges by serving as a dedicated recruitment partner. We provide comprehensive support, including consultation on structuring employment agreements, conducting thorough candidate screening, and intermediating the contract process. Our in-depth knowledge of the aesthetic recruitment landscape allows us to identify and attract highly qualified candidates who align with the practice’s culture and goals. By handling the complexities of the recruitment process, we free up practices to focus on their core mission of providing exceptional patient care.
Question:
We interviewed Dr. Decherd for Ailm magazine earlier this week, and we learned that you played a key role in bringing Dr. Isaakson to San Antonio Plastic Surgery. What made it such a successful match, and what impact has it had on both the practice and the community?
Steve Look:
The placement of Dr. Matthew Isaakson is a prime example of how Paradigm Search Group’s deep understanding of both the candidate’s needs and the practice’s culture leads to successful matches. I had initially engaged with Dr. Isaakson years prior, staying in contact and learning about his career aspirations and personal preferences. When Dr. Decherd approached Paradigm Search Group to assist in finding a new associate, Dr. Isaakson immediately came to mind.
Several factors contributed to the success of this placement. Firstly, Dr. Isaakson had geographic ties to the San Antonio region, making the location desirable for his family. Secondly, Dr. Decherd’s practice aligned perfectly with Dr. Isaakson’s professional goals and interests. Recognizing this strong potential fit, I facilitated a connection between the two physicians, which ultimately led to Dr. Isaakson joining San Antonio Plastic Surgery Institute.
This placement has had a significant positive impact on both the practice and the San Antonio, TX community. Dr. Isaakson’s expertise and skills have enhanced the practice’s capabilities, allowing them to expand their services and better serve their patients.
“I wasn’t sure what to expect, given this was our first experience with an outside recruiter. PSG was very professional and thorough from the beginning. They took the time to get to know our practice and understand the type of candidate I was looking for. They immediately introduced me to several qualified candidates and we identified a great fit promptly after commencing the search effort. Communication was consistent and Steve made himself available as needed throughout the process. With PSG’s support, we were able to secure a great candidate in a timely manner!”
– Dr. Michael Decherd, San Antonio Plastic Surgery Institute
Question:
What are some of the emerging trends you see shaping the future of physician recruitment in the aesthetic and plastic surgery fields?
Steve Look:
The future of physician recruitment in the aesthetic and plastic surgery fields is being shaped by several emerging trends. One major trend is the ongoing consolidation in the market, with independent practices being acquired by larger groups and private equity firms. This consolidation is changing the dynamics of recruitment, as practices need to navigate the complexities of working with larger organizations and compete with a wider range of employers.
Another significant trend is the aging plastic surgeon workforce. With the majority of plastic surgeons currently in practice being over 50 years old, there is a growing need for succession planning and the transition of ownership to younger surgeons. This presents both challenges and opportunities for practices, as they need to find ways to attract and retain younger talent while also ensuring a smooth transition of ownership and leadership.
Paradigm Search Group is well-prepared to help practices navigate these changes and secure the best talent. Our ‘white glove approach’ and deep understanding of the industry allow us to connect practices with the best talent and ensure successful, long-lasting partnerships.
