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Culture and Physician Retention

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Imagine a workplace where medical professionals at all levels are highly respectful.

Too many hospitals today are losing valued physicians due to toxic environments. A recent study estimates that “for hospital medicine, the overall cost of turnover is probably at least $400,000 per provider and could easily be $600,000 or more”.

The relationship between culture and physician retention is straightforward. Making a smart hiring decision is just the beginning. Once a physician is recruited, onboarded and in place, the challenge to keep them begins.

Jackson Physician Search did a study in 2016 (The Engagement Gap) revealing a significant difference in how executives and physicians rated their workplace culture.

One example of a gap between physicians and executives revealed their attitudes when asked their level of agreement with the following item:

“Always treats physicians with respect”

  • 48% of physicians agreed
  • 78% of executives agreed

Conflict and communication breakdowns are inevitable.

 

Toxic cultures

What exactly is a toxic culture? Based on my research working with physicians, physician executives, hospital executives, and support teams, toxic cultures often include:

  • Punitive, old-school leadership
  • People are judged quickly, labeled and “singled out”
  • Factions/cliques are strong and you see “in-groups” versus “out-groups”
  • Strong, long-held beliefs about “right and wrong” regarding how physicians should manage patients and nurse practitioners
  • Senior-level physicians or leaders prone to outbursts, yelling, profanity, name-calling and throwing things, creating an intimidating environment
  • Ineffective leadership skills at the highest levels (poor management skills)
  • Unclear vision and performance expectations
  • Low-trust issues; gossip is rampant
  • Power struggles

I’ve observed cultures first hand through my consulting and executive coaching. I’ve conducted 360 leader assessments, including verbal interviews with bosses, peers and direct reports of executives/physicians in healthcare organizations.

I’ve also conducted culture assessments and gained an in-depth look at the inner workings of how things get done behind the scenes.

 

Culture Assessment

Few organizations stop to assess their culture. The cost of ignoring a toxic culture is devastating in terms of turnover, morale and profitability. Patient care also suffers as a result.

Where do you begin to measure your organization’s culture?

Finding a valid and reliable assessment tool is the first step. I prefer an assessment tool called “LEA Culture Survey” from MRG. The result of the assessment is a report that paints a clear picture of “what it’s like to work here”. Leaders shape the culture. They determine what gets noticed, rewarded . . . and in many cases what gets ignored or even punished.

I facilitate the culture assessment process using the following 10 steps:

  1. Identify a sponsor and/or culture project team
  2. Identify critical leadership practices for achieving the mission
  3. Select the best culture assessment (online preferred)
  4. Communicate to all what’s coming and how they’ll be involved
  5. Administer online culture assessment
  6. Preview results with culture project team
  7. Plan roll-out of results to all; hold group feedback sessions
  8. Explain next steps and form action teams
  9. Close the gaps to reach top workplace benchmarks
  10. Re-survey in 12 – 18 months

Invest in your most valuable resource—your people. Rather than guess at what it’s like to work in your organization—measure it. Help shape the culture that helps you achieve your mission.

 

Kathy Cooperman is President and Founder of KC Leadership Consulting, LLC. She specializes in Leadership Development through executive coaching, consulting and facilitation. Her passion is helping organizations accelerate excellence in their leaders—engaging everyone to work together to achieve the business strategy while applying the core principals of Positive Psychology.

 

Successful Culture Assessment
Physician Recruiter Consulting with Physician Hiring Manager

[Infographic Guide] 10 Steps for a Successful Culture Assessment

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What to Know When Recruiting Residents – Medscape Takeaways

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Life as a resident is challenging for many reasons. Long hours and low pay, it’s a balancing act of simultaneously being learners and medical care providers. If that wasn’t enough, they are also job-seekers. By the beginning of their second year (if not before) they will begin exploring and making decisions about where, when and how they will start practicing.

Recent surveys by Medscape hold important clues about how the competing priorities of time and money will factor into a physician’s career decisions. By better understanding the value they place on time and money, there is a better chance of presenting your practice opportunity with the right balance and fit and appealing to their needs.

Show Your Respect for Their Time

No one has figured out how to add hours to the day. And, the technology intended to make physicians more efficient has been proven to be a source of frustration for many. According to Medscape:

  • Achieving work/life balance, while dealing with the pressures and demands on their time, are the top two challenges they face in residency.
  • Eighty percent report that they don’t consistently have enough time for personal wellness and a satisfying social life.
  • Two-thirds believe that having a manageable work schedule and call hours would relieve stress.

That’s why it’s vital to demonstrate your respect for a physician’s time. Skillfully assess how well an opportunity might fit the interests of the resident and tailor the timing and content of your outreach to the greatest extent possible. The first touch during the recruitment process should be a highly relevant message that reaches them at their preferred time, using their preferred channel.

Once they show interest, don’t waste their time with a prolonged process; but don’t be pushy, either. It’s hard to strike that fine balance, but you can show them how important they are to you by following the three P’s in all communications. Be prompt, precise and personalized to their specific needs.

When phone and onsite interviews are scheduled, be sure everything is well-planned (and everyone is well-prepared) so there is no time lost due to confusion, duplication or unnecessary delays in delivering an offer.

Your candidate’s experience during the recruitment process, including their encounters with your practicing physicians and staff, will show them how well – or poorly – their time will be respected if they decide to join your organization.

Influence of Money on Physician Career Choices

Over half of the residents in Medscape’s survey expect to finish training with at least $200,000 in medical school debt. So, it is no surprise that 92 percent of residents said that potential earnings will influence their choice of specialty. But even with the pressure to pay off debt, “starting salary/compensation” ranks second, right after “work schedule/call hours,” in the list of key factors they will look for in their first job. Residents also see attributes such as “gaining clinical knowledge and experience,” “being very good at what I do” and “gratitude of patients” as the most rewarding aspects of their job, far ahead of “the potential for making good money.”

Every resident has different financial drivers and personal motivations that will influence their career decision. So, it is important to discover what those are and craft a win-win compensation package. Paying top dollar is not necessarily the answer. But being competitive is key. Just be sure you know exactly who, what or where your competition really is.

The important point is to set clear expectations about how a physician can maximize their compensation while living the life they hope for. A pathway out of educational debt or a low cost of living may be more highly valued than a top dollar salary in a high-pressure practice setting.

Explain how work RVUs, collections, quality bonuses, and other components work. Show them benchmarks and allow them to see how others like them have progressed. Provide the practice support that will free them to focus on productivity and increase their earning potential. Help them envision how well the incentives and benefits align with their needs and those of their spouse and family (if they have one).

Surveys can deliver helpful insights, but they need to be placed in the context of your situation. If you are looking for solutions to specific challenges, talk to a Jackson Physician Search recruitment expert today.

discussing physician benefits with a recruiter
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Focus On Culture To Build the Perfect Team

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Are you having staffing issues and problems with turnover?  Does the cost of constantly recruiting physicians get brought up at every meeting?  If either of these situations sound familiar, your organization might have a culture problem. There is a growing amount of discussion regarding culture and fit, and how physicians today are placing more emphasis on finding a workplace that is aligned with their values.  The working professional’s website, LinkedIn, sponsored research into the role culture and fit play in workplace satisfaction and retention.

Do you know what is most important to your physician team?  If you are operating under dated assumptions, you would probably say it’s all about the money.  In today’s healthcare environment, physicians who are unhappy with their current situation have ample opportunities to move on and find a position with more control over their work/life balance and an environment that is consistent with their values. According to LinkedIn, 70% of professionals today would not work at a leading organization if it meant tolerating a bad workplace culture. If you think you can buy their happiness and loyalty, think again. An impressive 65% of survey respondents are willing to put up with lower pay if it means they can work in a better environment.

As you already know, physicians are suffering from burnout in record numbers. To stem the churn, administrators need to gain a better understanding of what type of culture exists currently, and what they envision for the future.  A good place to start is by reviewing a study conducted by Jackson Physician Search, The Engagement Gap. The results indicate a vast difference between what physicians believe about the workplace and what the executives believe. For example, less than 50% of physicians believe they are being treated fairly, while almost 70% of executives believe that their doctors are treated fairly.  In that same vein, only 48% of physicians feel they are always treated with respect, while 78% of executives feel that physicians are treated respectfully.  One area where doctors and administrators agree is that the majority of both groups admit that communication needs to be improved.

Once the culture and types of behaviors needed to support and foster a better work environment are understood, leadership must clearly communicate the message throughout the organization via words AND actions. None of this happens overnight in any workplace, but over time, tangible results are visible through improved performance, stronger physician engagement, and more successful recruitment and retention.

For more information about how Jackson Physician Search can help you find and retain qualified physicians and advanced practice professionals that fit within your culture and values, contact one of our experienced healthcare recruitment professionals today.

 

Create a Cultural Blueprint for Successful Physician Recruitment
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How to Create a Cultural Blueprint for Successful Physician Recruitment

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Discover Your Differentiators to Recruit Physicians

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The Link Between Physician Burnout and Cultural Fit

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Physicians today are suffering the effects of burnout at higher rates than ever before.  If someone were to make an assumption about what is causing physician dissatisfaction and burnout, compensation might be at the top of your list, but you would be incorrect. According to the Medscape National Physician Burnout & Depression Report 2018, compensation was fifth on the list of burnout contributors.  By taking a close look at the survey we see that many of the factors that are contributing to physician stress and burnout can be attributed to organizational culture. Physicians are saying the issues that are contributing to burnout include being bogged down with bureaucratic tasks, unmanageable work schedules, lack of respect and awareness from administrators, and issues with electronic health records.

Some of the contributors to burnout listed by survey respondents include bureaucratic tasks, lack of respect from the administration, lack of autonomy, feeling like a cog in the wheel, and emphasis on profits over patients, among others. An organizational culture that promotes engagement, respect, communication, fairness, etc. makes for a healthier environment for staff and administrators alike.

Is culture really that much of a factor? The answer is a resounding yes.  According to a research study conducted for LinkedIn, 70% of professionals in the United States indicated that they would not work at a leading organization if it meant having to deal with bad workplace culture.  Another 65% of respondents would accept lower compensation if they were working in a great environment.

As a physician, you have options in this evolving healthcare industry.  If you are unhappy in your current position or feel that you tolerate working in an environment that is not aligned with your values, you probably want to reassess your surroundings. Proactive healthcare organizations are working through the process of understanding their culture and finding employees who will fit.

There are some simple questions you can ask yourself to see if culture is contributing to feelings of burnout or dissatisfaction.

  • Do you feel there is a shared mission that is clearly defined and followed at every level of your organization?
  • Are behaviors and corporate decisions aligned with your own personal values?
  • Is communication transparent from top to bottom?
  • Does the organization value things like work/life balance and demonstrate a commitment to the well-being of the employees?

Answering those four simple questions, and you will notice that none involved compensation, should give you an idea of whether or not it is time to seek new opportunities.  If you have never had the opportunity to work in an environment that fosters a strong organizational culture, you don’t know how much of an impact it has on your personal fulfillment, job satisfaction, and passion for the practice of medicine.

To see for yourself how finding a cultural fit can help you take your career to the next level, speak with a Jackson Physician Search recruitment professional today. There are available opportunities locally and across the country, let us help you find your perfect fit.

 

How Culture Affects Physician Retention
Focus on Culture for the Best Physician Team

Culture and Physician Retention

Imagine a workplace where medical professionals at all levels are highly respectful…

Focus On Culture To Build the Perfect Team

Are you having staffing issues and problems with turnover? Does the cost of constantly recruiting physicians get brought up at every meeting? If either of…

Need Help Recruiting Physicians?

Click the Get Started button if you’re ready to speak with one of our physician recruitment experts.

Why Physicians Should Consider Flyover States

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We’ve all heard the references to “flyover” America when talking about cities and states in the central regions of the United States. Often times, these so-called flyover states are overlooked by physicians and advanced practice professionals when considering their next job opportunity. Doing that might turn out to be a bigger mistake than you realize.  Considering opportunities in less populous states and rural communities can be the best way to land a job that provides a combination of work/life balance and quality of life that may not be found in sprawling urban areas. With physician burnout and unmanageable work schedules increasingly at the forefront, now is the time to discover parts of this country you never knew existed.

The Reason Why

Your career should not be all about a big salary. A $380,000 salary in San Francisco or “the Big Apple” won’t get what you can with $240,000 in Duluth or Colorado Springs. Imagine being able to practice medicine outside of a bureaucracy, spending time with patients instead of managing quotas, and then actually having a life outside of the workplace.  Does that sound like something you can get into?

Let’s take a look at states that have wide open spaces and a lot of physician opportunities for those who are ready to make a change.

Minnesota

The ‘Land of 10,000 Lakes’ is an outdoor lover’s dream. From recreational water sports activities in the summer to ice skating and fishing in the winters. In Minnesota, weekend retreats to a cabin on the lake is a family tradition that goes back generations.  One fact about Minnesota that you may not know is that it has one of the most highly educated populations in the country, second only to Massachusetts.

Wisconsin

Another state with a variety of physician and advanced practice opportunities is the ‘Dairy State,’ Wisconsin.  If you are a fan of cheese, ice cream, and other dairy products, you can’t go wrong here. From the quaint charm of Egg Harbor to the bustling metropolis of Milwaukee, Wisconsin has something for everyone. Year round festivals, professional and college sports galore, and outdoor activities of all types, Wisconsin is a great state to raise a family.

Colorado

Do you like to ski and wish you had more time for that and other winter sports? Colorado is famous for being the ultimate ski destination. Finding your physician opportunity in the ‘Rocky Mountain State’ means that you will not only be close to world-class ski resorts but actually have the time to enjoy them. Coloradans are health fanatics, and there are plenty of outdoor fitness opportunities allowing you to enjoy the more than 300 days of sunshine a year.

Texas

While not typically included in discussions of flyover states, there is much more to Texas than the big cities of Dallas, Fort Worth, and Austin. Rural opportunities for physicians abound in Texas, and many are in and around locations in the southern part of the state. If you have always wanted to be near the water, the Houston/Galveston area is situated near the Gulf Coast, while farther inland the beauty and history found near San Antonio is hard to pass up. Texas is very financially friendly as the economy is booming and homeownership is easier than in highly taxed and more regulated states.

Start Looking

Now is the perfect time to reconsider your career options. Opportunities reside all over the country and if balance is something that is missing in your life, take a flyer on a flyover state and see if it is right for you.

Jackson Physician Search is an industry leader in placing physicians and advanced practice professionals into opportunities that provide them with the work/life balance and professional growth they need.  Get started by contacting one of our physician recruitment professionals today, or use our powerful job search tool and discover some of the incredible opportunities we have available.

 

physician job location
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Community Health Center Physician Recruitment Checklist

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The growing demand for affordable primary care, especially among underserved patient populations, has fueled the need for innovative solutions to the most pressing health care issues. National Health Centers Week raises awareness about the mission and accomplishments of America’s health centers to reach beyond the walls of conventional medicine and provide quality health care in the context of the individual, family, and community.

But, the shortage of physicians and advanced practice providers is especially acute for community health centers. Practice leaders are looking for a special breed of clinician who are:

  • Great listeners, innovative thinkers, and team players.
  • Enthusiastic about caring for patients whose social, educational, family and community environment may adversely affect their health and well-being.

Get ready to recruit into this challenging setting by adopting a 30-point checklist which will strengthen your recruitment and retention efforts. It will enhance your chances of hiring and keeping providers who are a great fit and will embrace your practice opportunities in rural or urban communities.

These four sections highlight how to be a “recruitment ready” FQHC and are covered in more detail on the full checklist:

 

Lay a Strong Pre-Search Foundation

Clearly define and establish the groundwork for the position and be ready to make a strong offer to the ideal candidate. The Pre-search Checklist covers key aspects of planning that create an efficient and successful recruiting process. It covers the essentials such as where they will practice, consensus on what qualities and skills you require, how they will be paid, and how much is available for incentives and loan repayment assistance.

Prepare the Interview Team

The best game plan fails if even one team member fumbles in their interview team responsibilities. That’s why almost every point on the Interview Checklist starts with “who.” From identifying who will develop the itinerary to who will share the organization’s vision, you must customize each interview to reflect the needs and motivations of the candidate, while putting your best foot forward. Leave no aspect of the site visits to chance – because you only get one – to make a lasting impression on your candidate.

Plan for Post-interview Follow-up

Best practices dictate that you commit to a firm and timely schedule for delivering a verbal offer, followed by the contract. The parameters and process for making the hiring decision and extending the offer should be planned well in advance. Following the Post-interview Checklist will help you plan for and deliver a rapid response. The additional benefit? Demonstrating to the candidate that your organization is serious about hiring them.

Deliver on Promises During New Provider Launch

It’s proven that long-term retention starts during recruitment and extends through onboarding and beyond. Yet, the baton is frequently dropped between the recruitment and post-hire operational teams, leaving a newly recruited provider wondering if they made the right decision. With many candidates accepting the positions more than a year before they finish training, it’s critical to establish a roadmap for keeping the provider engaged from acceptance through onboarding. The New Provider Launch Checklist outlines key requirements for successfully ramping your physicians and advanced practitioners into practice and ensuring their families are welcomed in the community from day one.

 

Download the full 30-point “Ready to Recruit Checklist” for community health centers, and contact us for more help in making your community health center’s recruitment efforts successful.

 

Cultural Blueprint for Successful Physician Recruitment
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Focus on Fit: A Cultural Blueprint for Successful Physician Recruitment

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JPS Recruiters Live: Optimizing for Your Children’s Education

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You can watch the recording of this installment of JPS Recruiters Live on our Facebook Page. (10 mins.)

Often, we get asked by doctors that are looking to relocate for help with assessing schools and school districts. We know that the education of their children is very important to them. At Jackson Physician Search, we actively research school systems, neighborhoods, cost of living, and other information so we can match physicians to jobs that fit their career and personal needs.

Resources for Assessing Schools and School Districts

There are plenty of good websites for checking the general “temperature” of a school or school district. It’s important to remember that the ratings are primarily based on standardized test scores. When there is additional information on student outcomes and growth or college preparedness, that is also weighed. Not all states report on those metrics though. Some sites use datasets such as community demographics, real estate sites, Wikipedia, etc. Keep in mind, sometimes that data is out of date or irrelevant, so be sure to check the source date of the information.

Links

  • nces.ed.gov/ – This is a great site that has information about public, private, and charter schools. There are many reports, with lots of data, that you can use to evaluate schools.
  • schooldigger.com – This site has its own ranking system called the “SchoolDigger Rank”. Their database has detailed profiles for over 136,000 schools. They track enrollment data, test scores, crime data, real estate data, etc.
  • greatschools.org – GreatSchools is the leading national nonprofit for school ratings. They also have articles, tips, and interactive tools to help parents support their children’s academic efforts.

What’s Most Important in Assessing Education Opportunities

There are more important factors than picking the “right” school. There is a strong correlation between academic achievement and the highest level of education of the parents, especially the mother, and the emphasis placed on learning in the home. When there is an expectation of academic excellence in the home and a real-world example of academic excellence, students have a much higher probability of academic success. This is great news for the families of physicians and scholars like yourself.

The School Is Only One Element of Academic Success

In many ways, it is more relevant to research specific resources versus overall school rating. Some schools offer resources such as before and after-school programs, and special needs assistance. If your student is college bound, they need to be prepared to differentiate themselves from other college applicants. At Harvard University, one of their four main considerations for admissions is interests and activities. More specifically, extracurricular activities, athletics, and community involvement. Your work-life balance can also have an impact on academic success. How much time will you have to get kids to soccer practice, help them with homework, and teach life lessons?

If you have more questions about how our expert physician recruiters research and evaluate the positions we staff for, please reach out to us using the contact us form below.

 

Physician Compensation
Physicians Going Country

JPS Recruiters Live: Deciphering Physician Compensation

You can watch the recording of JPS Recruiters Live: Deciphering Physician Compensation on our Facebook page. (24 mins.)

JPS Recruiters Live: The Benefits of Physicians Going Country

You can watch the recording of JPS Recruiters Live: The Benefits of Physicians Going Country on our Facebook page. (11 mins.)

Start Your Job Search

Click the Search Jobs button to browse our current openings.

Keeping up with the Dr. Joneses… and Other Ways to Sabotage Your Physician Job Search

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As an in-demand physician, the chances are pretty good that you have plenty of opportunities to consider when and if you are in the market for a new practice opportunity.  There is much more to think about when comparing opportunities than just base salary.  If you are experiencing feelings of burnout in your current position, then obviously you will want the new job to be structured differently.

Instead of jumping from the frying pan into the fire, choose an opportunity that is going to benefit your work-life balance rather than putting yourself into the same situation with a bigger salary.  Don’t fall into the trap of worrying about how much “so and so” makes, or what toys they have (The truth is they don’t have time to enjoy them!).

Focus on an opportunity that caters to the reasons you became a physician in the first place and allows you to enjoy the benefits of earning enough and having the balance to enjoy it all.  Let’s take a look at how physicians can weigh opportunities without worrying about keeping up with the Dr. Joneses.

Evaluate Your Options

How much is enough?  According to the BLS, wages for physicians are among the highest of all occupations.  Since there is such high demand for physicians, you should be able to find a position that has adequate compensation.  For you, personal motivations will play a greater role in answering the how much is enough question.

When moving to a new area, one of the factors that many people underestimate is the relative cost of living.  For example, some states have no state income taxes, others have very high taxes. The cost of living in a more rural area will be less than in a large urban area. For a quick thumbnail of how the cost of living compares between your current location and a new location, check out this cost of living calculator.

Another consideration that will impact your ideal salary is any current student loan debt and the plans for repayment.  According to the AMA, on average physicians are finishing medical school with close to $170,000 in student loan debt.  On the bright side, the National Health Services Corps is offering generous loan forgiveness grants and repayments for physicians entering certain specialties or relocating to underserved and rural regions.

The Bottom Line

Physicians in today’s healthcare environment should not be concerned about how much your annual salary is, but more about what you do with the money you earn, and if it is enough to fulfill your needs.  Are you planning to send your kids to private schools, take big annual vacations, or own property for camping getaways?  Whatever those personal goals look like, you should have the opportunity to make it happen.  The key is to have a sound financial plan and seek out the career opportunities that drive you closer to achieving personal fulfillment.

If you are ready to find a position that blends your financial needs with your personal needs, talk to a Jackson Physician Search recruitment expert today.  Or, to get a jump start on exploring any of our nationwide opportunities, check out our powerful job search tool here.

 

Physician-Practice-Like-a-Vacation-1024x536
How Physician Can Avoid Burnout

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Read Between the Lines to Understand the 2018 Physician Compensation Surveys

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Each year, a variety of physician salary surveys are published with varying degrees of detail and context. Charts and tables deliver a wealth of information, but you need to read between the lines to understand how each report defines compensation and the larger trends driving it.

Here is a brief overview of recently published surveys to get you started.

Modern Healthcare Physician Compensation Survey

This leading media source publishes a round-up of compensation data for 23 specialties as reported by 12 organizations, from recruitment and consulting firms to industry associations. This three-page survey reports average starting salaries, rather than average incomes. Salary and bonuses are included, but insurance, stock options, and benefits are not. Data points include:

  • Average cash compensation for that specialty
  • Percentage change between the current and previous year

Key Takeaways:

  • Physician pay increases appear to be slowing, possibly due to the rise in hospital employment, where salary (vs. bonuses) make up most of compensation for physicians.
  • Although primary care specialties are among the lowest paid, they scored the highest average starting pay increases.
  • Emergency, internal, family, and hospital medicine physicians saw average year-to-year pay increases of more than 3%.

MGMA DataDive Provider Compensation Data

The Medical Group Management Association gathers W-2 data directly from practice managers at over 5,800 organizations nationwide, providing a dataset of approximately 136,000 providers. Their data offers a complete picture of over 140 physician specialties based upon practice size, region, metropolitan statistical area and more. Benchmarks include:

  • Compensation – Including total pay, bonus/incentives, retirement and more
  • Productivity – Work RVUs, total RVUs, professional collections and charges
  • Benefit Metrics – Hours worked per week/year and weeks of vacation

Key Takeaways:

  • Primary care physician compensation increased by more than 10% over the past five years.
  • Depending on specialty, the difference in compensation between states can be in the range of $100,000 to $270,000.
  • Family medicine physicians saw a 12% rise in total compensation over the past five years, while their median number of work relative value units (wRVUs) remained flat. This reflects higher signing bonuses, continuing medical education stipends, relocation reimbursement and other cash incentives to attract and retain physicians.

AMGA Medical Group Compensation and Productivity Survey

The American Medical Group Association survey represents more than 105,000 clinical providers. Participants are primarily large multispecialty medical groups and integrated health systems. The average number of providers per participant group was approximately 380. Data includes:

  • Compensation
  • Net collections
  • Work RVUs
  • Compensation-to-productivity ratios

Key Takeaways:

  • Although compensation per relative value unit (work RVU) was higher than average, 2017 was the first-year physician compensation increased by less than 2% in over a decade.
  • Compensation increased only +0.89%.
  • The national median showed a decline in physician productivity by a weighted average of -1.63%, possibly related to growing administrative burdens on providers.

Doximity Physician Compensation Report

Doximity is known as the largest medical social network in the country – with over 70% of US doctors as verified members. Their report draws on the responses of more than 65,000 licensed U.S. doctors in 40 medical specialties. Physicians who are verified Doximity users can access an interactive salary map to drill down on compensation data combined with housing cost insights.

Their public report focuses on year-over-year trends in:

  • Physician compensation across Metropolitan Statistical Areas (MSAs)
  • The gap in pay between male and female physicians
  • Absolute physician compensation across specialty, state, region, and gender

Key Takeaways:

  • There was a 4% increase in physician compensation nationally.
  • Less populated MSAs tend to have higher average compensation compared to larger cities.
  • The presence of large medical schools in an area ensures a stronger pipeline of doctors competing for a relatively fixed number of positions, which causes a dampening effect on compensation.

Medscape Physicians Compensation Report

Medscape is one of the most popular sources for physicians who use the report to access high-level salary trends and gauge how their peers feel about the challenges and rewards of practicing medicine. More than 20,000 physicians in 29 specialties responded to the online survey, and the results were weighted to the American Medical Association’s physician distribution by specialty. Information reported:

  • Annual Compensation by Specialty
  • Year-to-year Trends
  • Regional Averages

Key Takeaways:

  • Employed physicians comprised 69% of the respondent group versus 26% who are self-employed, with 5% not reporting.
  • Demand for specialists to help address behavioral health issues and the opioid crisis surged, highlighted by a year-to-year increase in psychiatry and physical medicine/rehabilitation.
  • Physicians cited altruistic reasons as the top three most rewarding parts of their job, with “making good money at a job I like” ranking fourth.

Physician Salary Calculator and Resource Center

To further contribute to the resources available to physicians, we offer a physician compensation resource center that includes an interactive calculator with data compiled from published industry sources, as well as proprietary data from our search assignments. Customizable calculator fields encompass the components that are typically included in a compensation package, including:

  • Benefits
  • Sign-on Bonus
  • Residency stipend
  • Relocation assistance
  • Student loan repayment
  • Bonuses for productivity and quality

The Physician Salary Calculator enables you to:

  • Easily access customized physician compensation data
  • Drill down by specialty, state, and type of location
  • Get instant results and have your report emailed to you

Your results will instantly show a competitive market-based scenario that breaks out base salary, benefits, hiring incentives and bonuses. The calculator is unique in its design for use with an offer in hand, or if you are considering relocation and want to see how far your current compensation would stretch in a different state or type of community.

In addition to the salary calculator, our resource center features relevant physician compensation articles and videos.

A Final Piece of Advice

For any practice opportunity, making an apples-to-apples comparison can be confusing. When negotiating, ask all the questions needed to fully understand the components of your compensation package. Industry insiders and experienced physician recruiters can be valuable resources. If you would like to speak to a recruiter, use the Contact Us form below.

Physician Compensation
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JPS Recruiters Live: Deciphering Physician Compensation

You can watch the recording of JPS Recruiters Live: Deciphering Physician Compensation on our Facebook page. (24 mins.)

RVUs and the Future of Physician Compensation Models

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Click the Search Jobs button to browse our current openings.

Take Time to Assess Your Surroundings During Your On-Site Interview

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With competition for your services as a physician being so fierce, healthcare organizations are increasingly looking for individuals who fit their culture in addition to having the necessary skills to succeed.

While administrators are going out of their way to attract and hire doctors who are a good fit, it is important that you do the same for yourself. If you are being brought in for an on-site interview, it is a good indication that they think your values and skills are a match for the organization.  Don’t pass up the opportunity to do some reconnaissance of your own about the organization as well as the community.  Is it a place you can envision settling into?  A place you might even want to raise a family?  Fortunately, like anyone who is in a high-demand career, you have the opportunity to focus on finding a job that fits your career and life goals.

Think About Your Time Away from the Job

If you are going to avoid burnout, you have to have access to things that you like to do to recharge your batteries.  Do you like to fish and hike? Then check out your proximity to parklands.  Maybe you are a cycler or a runner.  You can search online for local running or bicycling clubs. Another underutilized resource for individuals who are relocating is the local chamber of commerce.  People work for the chamber because they know everybody in town and are connected to everyone who matters.  You can connect with them online, it’s a great place to start your research.

Spend Some Time in the Community

Make your way around the downtown or take a drive in the suburbs, it is important to get a feel for the speed and vibrancy of life there.  Strike up a random conversation with the person who is filling up their gas tank at the pump next to you.  You have made your career by gleaning health information from strangers, it is just as easy to learn about non-health related things in the same way.

Assess the Facility Environment

What are your thoughts as you walk through the front doors? Do the folks at the front desk have a smile on their face?  How about the other clinicians?  What can you read from their body language?  Head over to the coffee shop or the cafeteria and strike up a conversation with any physicians or residents you come across.  You might be surprised what you can learn from a little human intelligence, and it will help you in the interview process.

Now, that you have your own sense of the community, the facility, and the people who work there, there is a frame of reference for you to lean on during the interview.  You may have learned something that you want to confirm or ask about. The members of the interview team will measure you up at the same time you can measure them against your recon experience. While it may feel a bit like a spy novel, we are talking about your career and your happiness and engagement in that career.

Jackson Physician Search recruiters personally visit their client’s location so they can help candidates accurately evaluate fit.

If you want to know more about any of our physician opportunities, please contact us.

 

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