Physician Employment Stratagies
For the first time in history, there are more physicians employed by hospitals than by private practices. Combined with growing physician shortages and increased demand for care, this cultural shift has made retaining and recruiting employed physicians more competitive and expensive than ever.
Our firm helps organizations design compensation programs that attract, retain, and reward physician employees. Through a combination of short-term bonus arrangements and long-term retention incentives, organizations can offer programs that create a competitive market advantage while controlling cost.
The program allows a hospital to select the physicians it would like to include. It can be customized to align physician compensation with organizational goals like quality, value, longevity, and/or performance.
Through the utilization of special funding options, the program can be structured to recover the costs associated with recruitment, onboarding, and turnover.
Key Advantages and Benefits
The aggregate
three-year turnover
for physicians is
25%
Hpositals utilizing
our programs
experience
a turnover rate of
8.5%
With the cost of turnover
estimated at $500,000 per
provider, the cost
savings could total
$2.7 million.
Want to Learn more? Let’s Talk
Every healthcare organization is unique. Our solutions are designed to be customized in order to fit your needs. If you would like to find out more about us and our solutions or simply discuss your organization's compensation challenge, complete the form below and we will arrange a call with one of our consultants.