Vanguard physician staffing company in the nation.
Ryan Larkin is the Vice President and CIO of MD Staffers.
MDstaffers is dedicated to providing specialized recruiting and management services to the medical community. MDstaffers provides all types of physicians, advanced practitioners, medical professionals, and executives to hospitals, clinics, private practices, and government entities nationally. They also provide staffing consulting and expert medical witnesses for legal proceedings.
Learn more about how MDstaffers can help you hire the best of the best medical personnel by listening to this episode of The Thoughtful Entrepreneur above and don’t forget to subscribe on Apple Podcasts – Stitcher – Spotify –Google Play –Castbox – TuneIn – RSS.
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Welcome to The Thoughtful Entrepreneur Show. I'm Josh Elledge, Founder and CEO of UpMyInfluence.com. We turn entrepreneurs into media celebrities, grow their authority, and help them build partnerships with top influencers. We believe that every person has a unique message that can positively impact the world. stick around to the end of the show, where I'll reveal how you can be our next guest on one of the fastest growing daily inspiration podcasts on the planet in 15 to 20 minutes. Let's go.
With us right now we've got Ryan Larkin. Ryan, you are the Vice President and CIO of MD staffers. Thank you so much for joining us. Yeah. Thanks for having me on, Josh. So Ryan, I'll just kind of start by congratulating you on hitting the Inc 500. Matter of fact, you hit it pretty high.
What number Did you come in at? We came in at number 49 which was we were pretty Shocked ourselves that, that we ranked that high, but But yeah, it was great.
So Jason, we're going to get this started by getting this out of the way Why does everybody need to be using video I'm going to throw you the world's biggest softball because the numbers are just it's the debate is is over as Al Gore would say,
That's amazing. So the 49 fastest growing company in the United States. Now when you submitted it, were you at that level than where they said, oh, we're gonna we're gonna need a little bit more documentation here. We're not saying Why did was that the
situation? Oh, yeah, they they needed financial statements of course. And then they needed a letter from our CPA to kind of confirm and put his put his name on the line that that he confirmed all the information. So
yeah, yeah, so Well, congratulations on that. Alright. So obviously the question we want to answer is, how did MDstaffers do that?
Right. That's the question that we get asked frequently, of course, and that's just so I mean, really,
the easy answer is, you know, good business and great people. Yeah. And obviously there's multiple layers to that, but that's the easy answer is, you know, Fantastic people in the right seat, and you know do good business.
Yeah. So what does MDstaffers do? And by the way, my business owner audience is just kind of like, Ah, come on. That's not the good stuff. The good stuff, we'll get to the good stuff. All right, but just start off by talking with MDstaffers does.
Yeah, so we are a physician and advanced practitioner staffing and recruiting firm and we staff, so physicians, nurse practitioners and physician assistants in all 50 states of the United States. And we have the name MDstaffers has been around since 2010. The corporation that exists today was founded in July of July, August of 2015. So really, we're we're a four or five year old company. Just the name has been around longer.
Yeah, well, okay. So the first clue here is that here in a great space, talk about what's going on right now with and this is in the news constantly. We've got a shortage right now of medical professionals. Can you kind of give us a little shine a little light on the problem that
Yeah, so. So the physician shortage, I mean, it's a full blown crisis at this point. And it's only getting worse. You know, the, the demand for top top quality physicians is only increasing with our aging population. And the medical schools just aren't spitting out enough physicians and then after medical school, the residency and fellowship programs, there's just not enough of them to keep up with our aging population. So it's, the demand is only going to increase we don't you know, for see it that it will ever decrease. Now, which is a good space to be in for that reason. I mean, it's kind of insulated from the economy, because because of that, can't get away with no health care.
So doctors offices, hospitals, health care. providers have a real problem right now. And they just they don't have enough. They don't have enough bodies to fill the billets as it were, what they need filled and they've got Meanwhile, they've got patients coming in coming in coming in, they'd love to be able to expand and offer more services, they can't do that. So and
yeah, you really have to two forces you have expectations and the actual supply. So, you know, you have this sick population where you have multiple co-morbidities. So these are really sick people, and they need, you know, extensive time spent with them to go over each of these issues. So as you have you know, more and more issues and you have less and less physicians, that the issue is only exacerbated by that because these are not people that are going in for their yearly physicals and having a couple knocks on their knees. These are people that are going in with diet. Beatty's heart disease, congestive heart failure. And I mean, it takes a solid hour to go through all their issues. And when you have less physicians, it's really a vicious cycle because they're seeing more patients, they have less time to see those patients, and then they pay the price of, you know, malpractice if they miss something. So it's really, you know, the issue only gets worse here you have, you know, physicians who are throwing up their arms and saying, I can't do this anymore, which is only you know, creating it making the issue worse, you know, even and I think that the the education system, so the schools, there's problems there too. I know, even in nursing, it is insanely competitive to get into nursing school. So that's what
my daughter's facing right now. You know, brilliant student, but yet, you know, getting into nursing is like, it was like you like what it used to be like getting into Harvard or something. It's it's that competitive
and, and I What what really compounds The issue is, you know, like in the nursing world, you've had several for profit universities pop up some you you're everybody's competing for the really good schools and for the institutions that have reasonable tuition, right? There's plenty of vocational schools in the nursing realm, you just have to pay $150,000 a year to go there. We're in the physician world, there's just not really any for profit universities who are spitting out physicians, so what physicians are doing are going to like the Caribbean to get educated or going to India or or those places. And the problem is, is they go and they graduate and they have their medical doctorate. They come back and there's no residency program. They have to have a residency program to be able to get licensed and actually see patients in the United States. And so that's another issue is that there's other alternatives, but those people are normally it takes them five or six tries To get into a residency program in the US, that's
amazing. That's amazing. So Ryan, we're so specifically MDstaffers then makes those connections. So on behalf of your clients who would be a hospitals, etc, you would go and track down and I basically had honor. But I mean, you're identifying, finding those doctors as physicians, and and hopefully attracting them to work for great medical groups.
Yeah, it's it's not an easy job. You know, we tell people, every employee that that we hire a prospective employee, you know, this is probably and I guess everybody says this, but it's, it's really some of the hardest people to recruit. Physicians aren't sitting around, unemployed. Now. They're highly paid. And they have a skill set. You know, it's not like a me or a, you know, a CEO, where there's multiple companies, you can, you know, you can always move around and you got to find the right match. I mean, you got the position. It's kind of like Check, you have all the requirements, you can go anywhere and get hired really. And so they get to pick where they want to go. It's some of the hardest people to recruit, you know, they're highly paid, highly educated, highly talented, and they can go just about anywhere.
Wow. Okay, so MDstaffers, how do you like, is your model in working with hospitals? You know, again, it helps it you're in a great space, but what do you do differently than say other? You know, I wouldn't cut your competitors, but anyone else in the space who's doing what you do?
So, you know, our quick answer is we do it cheaper, better and faster than anyone else. And how we do that is and that's a common answer, I'm sure. And but how we do that really is due to let me take a step back because there's a lot to unpack there. So I think it helps to understand what our motivation was originally getting into this space. And you know, we set out and said, Okay, well, the position vertical, the staffing and recruiting industry is controlled by about 10 major players and they're all 500 million plus companies, most of them in the 1.5 billion realm. And so what happened is, is that professional recruiting services were inaccessible to small and medium sized healthcare organizations, which are typically servicing the most vulnerable population. Right? So these are the medical the Medicare type patients. And so we we set out a way to find it. So it was low risk, high reward for the organizations and what we did is we operate on exclusively a contingency basis. So none of the organizations pay us a dime until we actually find them someone and they actually hire them. So there's not there's there's a low risk for the organization. So I am we're going to work really hard for you For free until we find someone you like, and they work out, we guarantee you.
So, basically, they don't pay unless you perform.
Yeah, it's a pay perform performance model. And, you know, we kind of tell our clients that you know, get as much free help as you can if you can find other organizations like us, they'll offer you free health by all means go for it. You know, we're happy because we know we're going to perform so we're happy to have you have multiple relationships what we find is in practice that organizations don't want to deal with other people because it's another person but bugging them basically, you know, saying hey, look at my candidate, Look, my candidate and it's not not the right fit, but we welcome the competition because you know, I wasn't on the on the organization side, I'd get as much free health as I could, because there's always going to be a demand.
So obviously, in thinking of who needs to reach out and connect with MDstaffers and you guys are on the web at let's see, it's MDstaffers.com And so obviously hospitals are hiring doctors who else is higher who else is hiring physicians.
So hospital, you know, our client base is really hospital systems, you know, so enterprises, multi state multinational healthcare enterprises, which has been kind of a recent addition, since our original goal was to for small and medium sized businesses, but also medical groups, all the way down to private practices, which is something that's kind of different about us or a differentiator of us as we work with small, small private practices that are may be single shingle, you know, one or two doctors all the way up to, you know, $15 billion companies. We don't turn them away, you know, we're happy and we're we work with those smaller organizations to figure out a pricing and billing model that, you know, supports their operating. So that's something that's kind of different about us is that, you know, most companies when they get to our size and our growth trajectory, they kind of turn that business away or they don't really want to deal with that and But we find that that's, that's our roots.
Nice. Nice. Well, Ryan Larkin, thank you so much for joining us again. You're the VP and CIO at MDstaffers on the web at MDstaffers.com. Ryan, thanks for so thank you so much for joining us.
Thanks so much, Josh.
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