How to Find the Right Physician Advisor

It has never been easier to create a sickcare startup, particularly in digital health. 

Part of that process requires that founders find the right players to be on the team. In many instances, that will involve finding physician advisors or consultants.

But, how do you find the right physician advisors?

Here are some tips:

1. Clearly define the optimal candidate by writing a job description that includes the knowledge, skills, attitudes and competencies you want. Are you looking for someone with an entrepreneurial mindset or someone with just domain expertise?

2. Look for past experience and results.

3. Decide how much and what kind of compensation you are prepared to offer, either in cash, equity or both.

4. Make it clear how long you want to engage your advisor. Is it for one hour or one year or more?

5. Clearly define your expectations, deliverables and timelines and how you will measure the results.

6. Solicit candidates using networks, social media channels, word of mouth referrals or responses to a call to action on your website or other marketing collateral.

7. Screen candidates using the criteria you have defined.

8. Interview candidates to see if they comply with your requirements and whether they are the right fit.

9. Negotiate an agreement.

10. Execute an advisory services agreement that defines the terms and conditions of the relationship.

Finding the right physician advisors is an important part of recruiting your startup team. Don't hire someone simply because of the initials after their name.

Arlen Meyers, MD, MBA is the President and CEO of the Society of Physician Entrepreneurs.

Comments

Comments (5)

author
David Quinn
You are totally right
2020-11-11 16:40


author
Sam Geddes
I am new to recruiting and appreciate this.
2020-11-11 16:50


author
Chris Stavely
Useful info
2020-11-11 17:04


author
Dan Hawkins
Really helpful
2020-11-11 17:20


author
John Lord
Good tips
2020-11-11 17:27

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