OnyxMD Case Study
Founded in 2005, Onyx M.D., a division of Health Carousel, LLC, is one of the leading privately held healthcare staffing companies in the nation. With corporate offices in Denver and Dallas, the firm focuses on the placement of physicians and advanced practice clinicians of all specialties in locum tenens (temporary assignments) and permanent positions throughout the United States.
With production and company culture going in the wrong direction, CEO Dr. Robert Moghim recognized that his company was made up of largely C Players. Moghim estimated the percent A Players at OnyxMD to be a mere 10%. The organization culture was flawed and the chance of becoming a premier physician staffing firm was remote. “Significant personnel changes were necessary to correct a negative trend in our business,” said Moghim.
"Implementing the Topgrading principles has empirically shown our improvement toward reaching our vision to become a Top-10 competitor in our industry within five years."
– Jim Chandler, CFO
Moghim used Topgrading techniques and resources to replace C and B players in the organization with A Players. It was a near 100% turnover and built a foundation of experienced professionals who could then train and influence future hires. Following this, over 80% of the later hired A Players came through referrals from the existing A Players.
Moghim has measured OnyxMD’s post-Topgrading percent A Players hired to be 90%. OnyxMD’s CFO Jim Chandler illustrates how Topgrading has made a significant impact on the company’s success, saying, “Over time, implementing the Topgrading principles has empirically shown our improvement toward reaching our vision to become a Top-10 competitor in our industry within five years.” Chandler goes on to explain, “We looked at the average monthly revenue for a particular client in the 6-month period preceding the change in personnel and the 6-month period following the change. The average monthly revenue increased by 193% in this short time in large part due to the people touching the account.”
“Although challenging at times, the Topgrading process has been essential to our success. By hiring the best in our industry, we have been able to establish the foundation required to stabilize and accelerate company growth through high performing teams.”
—Dr. Robert Moghim, CEO