Understanding Physician Bonuses and Benefits

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Physician salaries continue to rise, although more modestly than in years past. You may find that hard to believe considering the 24-7 handwringing over the physician shortage, but have no doubt that physician compensation is still rising and becoming more complex.  After all, it is simple economics, as demand rises and supply stays the same or fails to rise commensurately, the cost (in this case salary) is going to rise.  For example, according to Medscape’s Physician Compensation Report 2018 average salaries for Primary Care and Specialties rose between 3 and 5% from 2017.  Hospitals and health systems are finding other ways to compensate physicians than base salary.  Many bonuses and benefits are not available everywhere but are often based on setting and geographic area.  Let’s try and make sense of some of the more popular physician bonuses and benefits.

Guaranteed Salary

This is one piece of your compensation package that is helpful to have your lawyer examine. Depending on your contract, this may be a 100% guarantee that you will earn X annually, or there may be a lower annual guarantee that includes incentive triggers that when met will increase your overall compensation. When incentives are involved, you will want to understand RVU’s and how they are tied to your salary.

Sign-On Bonus

The competition for physicians across the spectrum of care has led to an increase in the prevalence and amount of sign-on bonuses.  Depending on geographic location, physicians may be seeing signing bonuses up to $40,000. On the flip side of that, some regions are only offering bonuses up to $7,000.  Where you are willing to work can be financially beneficial.

Student Loan Forgiveness

An increasingly popular bonus being offered to new physicians is student loan forgiveness in return for a commitment to a contractual length of stay in the position. Once, a mainstay of rural and community health recruiting, the fierce competition for physician’s services have made student loan forgiveness a major attraction in the recruitment process.

Malpractice/Liability insurance

Insurance to protect physicians against malpractice claims is the most frequently provided benefit. This is another benefit that you should have your lawyer review to ensure that you understand coverage limits, statutes of limitations upon your leaving the position, and other details.

Relocation Stipend

Another popular benefit to consider is the relocation benefit.  Relocation stipends can generally be negotiated depending on the geographic area and individual circumstances. In these cases, it is important to fully understand what the requirements are to earn the stipend and how it will be paid out.

Retention Bonus

Because of the rising costs associated with physician vacancies and recruitment, retention bonuses are becoming a popular addition to the physician compensation package.  This bonus can be paid incrementally throughout the length of the employment contract or in some cases upon completion of the contract.

Other bonuses and stipends can be available but are less common.  In some geographic locations, physicians may be offered with a vehicle stipend, housing allowance, parking stipends, and more depending on specific challenges that one might find in a certain area.  These aren’t as common as some other incentives you can find, but if you are working with a good recruiter, they can alert you to many of the available perks.

To learn more about physician compensation or to work with a career partner who can assist you in finding the right opportunity to match your skills and career goals, contact Jackson Physician Search today.

Physician Career on Fire

Is Your Physician Career on FIRE?

Not in the literal sense, but many physicians today are working to ensure that their career is on FIRE.  FIRE as in Financial Independence, Retire Early!  The acronym stands for something that many of us…

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

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…

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Is Your Physician Career on FIRE?

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Not in the literal sense, but many physicians today are working to ensure that their career is on FIRE.  FIRE as in Financial Independence, Retire Early!  The acronym stands for something that many of us want to achieve, but so few are able.  Physicians are in a high demand, high salary field and have that opportunity if their sights are set in that direction.  Let’s take a look at things to consider while getting your career on track for FIRE.

For starters, to learn more directly about other physicians who are working toward FIRE, consider joining almost 10,000 of your fellow MD’s and DO’s who have joined the Physicians on FIRE Facebook page here.

It’s Not All About What You Earn

Sure, salary is a large component of your ability to gain enough financial control for FIRE, but it is equally about how much you spend.  It’s never too late to make the necessary changes in your career or in your personal life to regain that control. If you’ve become complacent where you are at, you may be missing out on other opportunities that will improve your earnings power.  Still saddled with student loan debt? You are not alone.  More than 60% of medical students graduate with over $150,000 in debt. It’s time to find an employer who is willing to help out with that.  What about credit card debt?  Make a plan to consolidate it and get out from under it.  Purposeful spending doesn’t mean you have to give up your lifestyle.  It does mean, you have to decide on what is most important and what can be put aside until later.

But I Like What I Do  

The beauty of setting yourself up for early retirement and financial independence is that you are creating your own terms. If you truly want to create financial independence for yourself and family, then working toward that goal is merely “setting the table” for you to make a decision when the time is right. According to a 2016 survey, 47% of physicians indicated that they planned to retire earlier than expected.  There is a very good chance that when the time comes, and you are financially independent, you will begin thinking about other things that feed your sense of fulfillment. When you have reached FI, no one is going to force you out of practicing medicine, in fact with the continuing doctor shortage, just the opposite will occur, but you will be in the position to practice just how you like.

Practice How You Want

Being a practicing physician has been your focus for the majority of your life. Naturally, it can be disconcerting to think about what comes after you stop seeing patients.  Truthfully, that is more of a personal retirement question, than a FIRE scenario.  The end goal of FIRE is for you to be free to do what you are really passionate about. If you still want to practice medicine, you’ll be free to do it on your own terms. You might want to transition into teaching or research, and FIRE will allow you to do so without worrying about how that will affect your lifestyle.

Making a commitment to financial independence is within your control.  The idea is to reach that point of independence before you begin thinking about life after the practice.  Maybe your work and life experiences have created the itch to pen the next great American novel, or you can’t stop thinking about spending all of your time between the beach and the golf course.  Whatever it is, you have earned it.  By making financial decisions now, your FIRE can be stoked when the right time arrives.

If you want to explore physician career opportunities that can help you achieve financial and personal goals, contact a Jackson Physician Search recruitment professional today.

Physicians Can Improve Their Job Satisfaction

Five Ways Physicians Can Improve Their Job Satisfaction

Is your career as a physician becoming less satisfying?  Ranked as one of the most trusted professions, some doctors today are not feeling the love.  According to a 2018 Medscape survey, more than 50%…

2018 Physician Compensation Surveys

Read Between the Lines to Understand the 2018 Physician Compensation Surveys

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…

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How a Recruiter Can Help You Get Your Foot in the Door

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Dr. Iswanto Sucandy had an impressive background and was in the process of finishing up his clinical fellowship at the University of Pittsburgh Medical Center, after previously completing one at Yale.  A surgeon, whose specialty was in the treatment of liver and pancreatic disease, he was looking for a position that would allow him to continue his research into the surgical techniques needed to treat cancer.  At Yale, Dr. Sucandy was trained in Advanced Minimally Invasive Surgery, while his training at UPMC included Hepatobiliary surgery.  His time at UPMC had earned him some renown for pioneering minimally invasive liver and pancreas resections. In May of 2016, Carly Clem, Senior Director of Recruiting at Jackson Physician Search contacted the promising young liver specialist believing she had an appropriate placement opportunity for him.

Carly knew this would be a great opportunity for Dr. Sucandy even if it would take a little convincing on her part.  At first, the hospital was a bit hesitant because they had been looking for a surgeon with years of experience and Dr. Sucandy was a new graduate.  But, she knew that he would thrive at Florida Hosptial if just given the opportunity.  She eventually convinced Florida Hospital to grant Dr. Sucandy an interview, and as expected, they soon learned just how impressive he was.  He nailed the interview process, and Florida Hospital couldn’t wait to get him on their team.

The rest, as they say, is history!  Dr. Sucandy has been doing amazing work at Florida Hospital and is earning a worldwide reputation for his surgical advancements.  In a recent case, he and another surgeon at Florida Hospital, performed a 3.5-hour operation on a patient to remove a tumor that had invaded two-thirds of her liver. Even the most minor error could have caused immediate death for the patient. Dr. Sucandy’s procedure was successful, and the patient is now cancer-free.

Stories like this one are not uncommon in physician recruitment.  A good recruiter, like Carly, learns about the facilities where she is trying to place a doctor, and also gets to know her physicians. She convinced Florida Hospital to give Dr. Sucandy an interview because she recognized that he would be a great fit, and with his impressive skillset would have an opportunity to be successful there.

To learn more about what a recruitment professional can do for your career, contact Jackson Physician Search today.

Choosing a smaller community to have a bigger impact

The Job You Want May Not Be the One You Need

We’ve recently worked with a physician who thought it was time to make a move from a small rural community setting into a large metro area.

2019 Physician Job Search Outlook

2019 Physician Job Search Outlook

Let’s look at the 2019 Physician Job Search Outlook.  With 2019 right around the corner, is it the perfect time to start planning to change jobs, retire early, get out of private practice…

Start Your Job Search

Click the Search Jobs button to browse our current openings.

Benefits for Physicians Who Choose a Small Practice

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So, you are a physician in a large metropolitan hospital-owned practice, with a big salary, professional prestige, invites to all of the local galas, and everything else that goes along with being a part of a large healthcare organization.  But the important question to ask yourself is…Are you happy?  If your answer is a resounding yes, then congratulations for achieving the success that you worked so hard for all these years.  If not, there is no better time to change things up than now.  The job market for physicians is roaring across all practice settings, and if you are tired of working in a large system, maybe it is time to think about a small practice.  Let’s take a look at the benefits of practicing in a small community setting versus the large organization you are used to.

Fewer layers often mean better communication.

The first thing you will notice about applying to practice in a smaller community setting is that there aren’t as many layers of management to navigate.  In fact, in many cases, you will be meeting and negotiating directly with the CEO.  In a smaller setting, contracts are typically negotiated and approved faster, changes to workflows or procedures can be made more quickly, often times right on the spot.  Overall, decision making happens faster when it occurs directly between the key stakeholders rather than through meetings, memos, and managers.

Having a voice in the organization.

To build upon the direct communication theme – in a smaller community practice setting, you will be looked upon as one of the key stakeholders/decision makers.  Having a voice in how the organization is managed can be incredibly energizing when you have spent your career as one among hundreds.  Being able to present and implement your ideas will increase your sense of ownership in the workplace, and allow you to contribute in ways other than through medicine.

Cultivating a great workplace culture.

Being looked upon as a key member of a small practice means that you have an opportunity to be a part of making it a great place to work. Everyone wants to feel good about going to work every day, and as soon as it feels like you are punching a clock, it is no longer as rewarding.  Fortunately, in your position as a leader, you can have a direct impact on the workplace culture.  Creating a culture with open communication, mutual respect from top to bottom, and ensuring that everyone is accountable for their individual responsibilities is a sure way for staff and physicians alike to be excited to come to work every day.

Being a key member of the community.

In a smaller practice setting, you could be one of only a few doctors in an entire town.  That immediately makes you one of the biggest fish in a small pond and provides you with an entirely new level of status.  Being respected and known by just about everyone in the community can be a great boost for your self-esteem.  A smaller community setting also allows you to get to know all of your patients.  In other practice settings that may be the case to some degree, but in a small community setting, you can be on a first name basis with all of your patients.

There are plenty of reasons to consider making the switch to a small community setting over a large healthcare organization, including developing a better work/life balance.  Only you can know what is best for your career and lifestyle.  If you want to explore various opportunities in small practice settings across the country, contact a Jackson Physician Search recruitment professional and get started today!

The Benefits of Private Practice

Is it Time to Reconsider the Benefits of Private Practice?

In recent years, much has been written about the numbers of physicians leaving private practice for hospital employment.  Unfortunately for many, the decision to leave a private practice…

Advance Your Physician Career with a New Job

How To Advance Your Physician Career With a New Job

As you look to advance your physician career with a new job, the most important question you must ask yourself is why are you considering a change?  Your reasons will drive how you…

Start Your Job Search

Click the Search Jobs button to browse our current openings.

Is it Time to Reconsider the Benefits of Private Practice?

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In recent years, much has been written about the numbers of physicians leaving private practice for hospital employment.  Unfortunately for many, the decision to leave a private practice has turned out to be like “jumping out of the frying pan and into the fire.”  Many physicians who thought it was time to leave a private practice setting are now having second thoughts or experiencing signs of burnout. Let’s take a look at a few reasons why it is time to reconsider the benefits of private practice.

More Autonomy

When was the last time a hospital administrator asked you for your opinion on how to improve the patient experience or create a better staff culture?  In a private practice setting, those kinds of decisions are yours to make or at a minimum be a part of the discussion.  In private practice, you can base your decisions on patient care, not a policy drafted by others who may be several years removed from the doctor-patient experience.

Workplace Culture

In a recent study, less than 50% of physicians in a hospital setting feel like they are always treated with respect.  Increasingly, in today’s healthcare workplace, culture is playing a greater role in the recruitment and retention of staff. In a private practice setting, if you are experiencing a toxic culture, look no further than the closest mirror.  You and your practice partners have the ability to create whatever type of environment works best for you and the staff.

Work/Life Balance

In private practice, you get to control how many patients per day you are going to see. You also get to decide when and how much you are going to work.  Determining what the right work/life balance is for you is a decision that can only be made by you (and your loved ones).  The good news is that if the mood strikes and you want to get away for a few days in wine country or hit the mountains for a quick ski trip, you can make it happen.

Patient Relationships

In private practice, especially in a primary care setting, you are establishing relationships with the patients you treat. Studies show that an ongoing physician-patient relationship results in greater satisfaction for both the physician and the patient.  This improved patient experience also leads to more referrals and favorable outcomes. A private practice becomes part of the fabric of a community and being connected to that care setting cannot be discounted.

Compensation

Most private practice settings allow you to set your own fees and work as many hours as you want to earn more money.  Even more so, for sub-specialties, seeing more patients means more money versus hospital system salary structures.  Additionally, efficiencies and other workflow improvements have a greater impact on the bottom-line in a private setting.  As the owner or major partner of the private practice, you decide what to do with the profits earned.

If you are interested in learning more about the private practice opportunities that Jackson Physician Search has available right now, contact a recruitment professional today.  

 

Physicians Can Improve Their Job Satisfaction

Five Ways Physicians Can Improve Their Job Satisfaction

Is your career as a physician becoming less satisfying?  Ranked as one of the most trusted professions, some doctors today are not feeling…

5 Reasons Why Doctors Search for a New Jobs

Five Reasons Why Doctors Search For a New Job

If you pay any attention at all to the stock market or financial news, you already know that the economy is booming and…

Start Your Job Search

Click the Search Jobs button to browse our current openings.

The Job You Want May Not Be the One You Need

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We’ve recently worked with a physician who thought it was time to make a move from a small rural community setting into a large metro area.  By working with a recruiter at Jackson Physician Search, he found a position that met all of his personal and professional needs.  Here is his recruitment story.

Our physician, let’s refer to him as Dr. Smith, had been working in rural Northern Kentucky for several years.  Having recently married, Dr. Smith felt he was ready to explore opportunities in larger metropolitan areas.  He began by considering cities like Chicago, hoping for access to cultural activities and better schools for his daughter.  He quickly learned that his personal and professional needs might be better met in a mid-sized community and practice. It surprised him to find that the large group he was interviewing with wasn’t very responsive and he felt that working there, he would be just another number.

He began working with Helen Falkner, Sr. Director of Recruiting at Jackson Physician Search, who has been helping doctors, and other medical professionals find their perfect job for years. They began by narrowing down the things that were most important to him and his new family. He wanted a position affording him a better work/life balance and a location that offered the amenities of a larger metropolitan area.  When Helen told Dr. Smith about an opportunity she had in a Midwestern university town, he was unfamiliar with the community and initially skeptical.  However, Dr. Smith knew that keeping an open mind is critical and that it would be worth it to do his due diligence on the job.

The first thing that struck Dr. Smith when he arrived for his interview was that he was meeting directly with the CEO of the clinic.  He felt very comfortable having that direct line of communication with the CEO, and it allowed for a streamlined decision-making process. Dr. Smith was pleasantly surprised to find that the facility was very physician-centric and they were extremely motivated to learn more about him and his family. He knew if he joined them, that he would be more than just another doctor.

Being a college town, and also located less than an hour from a major metropolitan area, Dr. Smith and his family found that they would have access to vibrant cultural scenes, concerts, great restaurants, and a top school system.  The organization was very accommodating with Dr. Smith’s salary and scheduling preferences, and he gladly accepted their offer to join the team.

Dr. Smith’s story is not unlike many others in today’s ultra-competitive physician search environment, and it includes some key takeaways for consideration. Dr. Smith kept an open mind throughout the process and working with his recruiter, stayed focused on the things most important to him and his family.  He also recognized that in a smaller setting, he had the opportunity to become a part of the community and work in a more comfortable, inclusive environment. The only investment Dr. Smith had to make was the time he spent interviewing.  By overcoming his preconceived notions of what he thought he wanted, Dr. Smith ended up as part of a tight-knit team in a location that met all of his family’s needs.

If you are ready to find your next opportunity, check out our job portal to search for your next job or connect with Helen directly on her LinkedIn page.

choosing education the right shcools

JPS Recruiters Live: Optimizing for Your Children’s Education

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…

5 Reasons Why Doctors Search for a New Jobs

Five Reasons Why Doctors Search For a New Job

If you pay any attention at all to the stock market or financial news, you already know that the economy is booming and the outlook for jobs is better than it has been in decades…

Start Your Job Search

Click the Search Jobs button to browse our current openings.

Gift Yourself a New Job This Holiday Season

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The holidays are here, and 2019 is around the corner. You suddenly realize that the job search you vowed to start early is now behind schedule.  Don’t panic! You still have time to start your holiday job search — Just use our guide and the holiday calendar to plan, prioritize and set deadlines for achievable milestones.

Make your List (and check it twice):

  • Create a checklist of criteria so you can objectively prioritize your search.
  • Be sure your CV is ready to submit for practice opportunities that meet your criteria.
  • Finalize your short list of appealing communities and organizations.
  • Identify your references and alert them to possible inquiries.

Get a Helper:

  • Share the details of your career and personal goals with a trusted recruiter.
  • You can rely on their objectivity, network of connections and knowledge of the marketplace.
  • They will help focus your search and avoid roadblocks, without charge or obligation.

Plan Ahead to Avoid Dashing Around:

  • With holiday calendars (and available flights) filling up, be quick and decisive about scheduling interviews.
  • Outline pertinent questions about compensation, practice parameters and the community.
  • Start phone interviews in December and schedule on-site interviews to take place just after New Years.

New Year’s Day Assessment:

  • Assess your progress, including upcoming interviews and offers on the table.
  • Ask for feedback to understand where any disconnects occurred.
  • Share that information with your recruiter – you need objective advice!
  • Plan your follow-up steps. If no offers are in hand, you may need to change the parameters of your search and conduct more due diligence to improve your chances of success.

MLK Day Decisions:

  • Prioritize the offers you have received.
  • Compare compensation packages using trusted sources for salary surveys and calculators that incorporate multiple variables.
  • Consult trusted advisors who can help compare the variables and explain contractual terms.
  • Be prepared to make a decision.

Sweet Success by Valentine’s Day:

  • Celebrate the sweet success of accepting an offer!
  • Meet the deadlines for securing your license, hospital privileges and credentialing with payers.
  • Explore housing and make relocation plans.

Physicians who accept an offer early enjoy:

  • The opportunity to earn a stipend, signing bonus or another incentive for early commitment.
  • Less stress and fewer scheduling conflicts during their final semester of residency.
  • Peace of mind to enjoy their first few months after graduation.
  • The opportunity to be productive in your practice as soon as you arrive.

Finding your first or next practice opportunity can be challenging and overwhelming.  An experienced recruiter can ease the process and serve as a guide through the process. They know the hiring organizations first-hand and have visited the practice sites you’re considering. They will streamline the process and keep you on track.

Get started now by exploring Jackson Physician Search opportunities and learning why physicians choose to work with Jackson Physician Search recruiters.

2019 Physician Job Search Outlook

2019 Physician Job Search Outlook

Let’s look at the 2019 Hiring Outlook for Physicians.  With 2019 right around the corner, is it the perfect time to start planning to change jobs, retire early, get out of private practice…

Advance Your Physician Career with a New Job

How to Advance Your Physician Career With a New Job

As you look to advance your physician career with a new job, the most important question you must ask yourself is why are you considering a change?  Your reasons will drive…

Start Your Job Search

Click the Search Jobs button to browse our current openings.

Five Ways Physicians Can Improve Their Job Satisfaction

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Is your career as a physician becoming less satisfying?  Ranked as one of the most trusted professions, some doctors today are not feeling the love.  According to a 2018 Medscape survey, more than 50% of doctors are feeling the negative impacts of a stressful working environment.  If you are one of those physicians experiencing burnout, there are some things you can do to improve your practice experience.  While not a comprehensive list, below are five ways physicians can improve their job satisfaction.

Find Work/Life Balance.  If you don’t have a healthy balance in your life between home and work, the chances are you won’t be satisfied in either.  With the demand for your services as a physician, you have more control over your current position than you think. Take the time to self-reflect and determine what your work/life balance looks like and what you can do to find the balance you want.  Maybe it includes reducing the time you are spending on administrative tasks, or less call during the week or on weekends. Much like treating an illness, once you know what the imbalance is, you can begin prescribing whatever it will take to improve the condition.

Challenge Yourself.  Has your career as a doctor gotten too much like punching a clock?  Think back to your early days of practicing medicine and how exciting every day seemed.  You were solving complex medical puzzles, helping your patients, absorbing information, and learning new techniques.  You can achieve that feeling again by taking on new challenges.  This can be as simple as learning a new skill, or getting a new certification, or as involved as advancing your career to a C-Suite level.

Reignite Your Passion.  There is nothing quite like finding an activity that causes the fire in your belly to burn brighter.  If that flame is dimmer than it used to be, you need to throw another log on the fire.  Find a way to take up a cause that is close to your heart, or dive back into a hobby that you are passionate about.  When was the last time you picked up that guitar you used to play in the dorm?  You might even consider checking out a volunteer organization like Doctors without Borders, or other physician volunteer opportunities through the AMA.

Become a Mentor.  When you were a fresh-faced resident or young practicing physician, you may have relied on a mentor to help you navigate the intricacies of your first years of practicing medicine.  If you had a mentor, the chances are you still rely on them from time to time. One way to improve your own job satisfaction is to act as a mentor to others.  Taking a young physician under your wing can help you rediscover why you became a doctor in the first place. And better yet, sometimes being around a young doctor who has the passion and energy you once had, can help you recharge your own batteries.

Change Jobs.  If you have already tried the recommendations above without positive results, maybe it is time to consider finding a new place to practice.  You are in demand, and many organizations would be thrilled to have you join them. Negotiating optimal schedules, minimal call, vacation time, research opportunities and more, it is all out there for negotiation.  Sometimes change is necessary and if your current job no longer feels like the right fit, the coming year is shaping up to be a good one for physicians looking for greener pastures.

If you are a physician who is unhappy in their current position, or you just feel like it is time for a change, let Jackson Physician Search help you find your perfect fit. Our nationwide reach means that we have access to thousands of opportunities with provider systems of all sizes in all types of communities.  Contact one of our physician recruitment professionals today to get started.

How Physician Can Avoid Burnout

What Physicians Can Do to Avoid Burnout

We have all experienced feelings of burnout at different points in our career, being overwhelmed, depressed, and other negative reactions to…

Career Paths for Physicians

Career Paths for Physicians

In the past, when students graduated with their medical degree, they applied for their medical license and began a long career of seeing…

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2019 Physician Job Search Outlook

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Let’s look at the 2019 Physician Job Search Outlook.  With 2019 right around the corner, is it the perfect time to start planning to change jobs, retire early, get out of private practice, etc.? Here are several things for doctors to consider for 2019.

Escape From the City

We all experience feelings of burnout in our careers from time to time, but if you are one of those physicians who would say that the burnout is pervasive, maybe a change of scenery can do the trick.  Rural communities are struggling to find doctors, and many are sweetening their offers to attract more physicians to “go country.” Physicians who leave the hustle and bustle of the city find lower patient volumes, a better quality of life, more time to spend with your patients, lower costs of living, and much more.

Do Things Differently

Proactive administrators are aggressively pursuing ways to keep their physicians from seeking greener pastures. Reducing the time doctors spend on notes and EHRs by hiring scribes, adding more NPs to reduce workload, and focusing on corporate culture, are just a few of the ways systems are bettering the work environment. Doctors that find themselves somewhere that isn’t seeking continuous improvement, there are plenty of other opportunities out there to consider.

Change in Location

Maybe 2019 can be the year that you get out of the city you’re in and find a new one more conducive to your lifestyle. If you don’t see yourself fitting into a rural setting, a 2018 Medscape survey uncovered the best places to practice.  Topping the list is North Dakota with its booming economy, low numbers of uninsured citizens, and high ranking healthcare quality statewide. Very few other states have lower doctor burnout rates than North Dakota. Not surprisingly, Hawaii is also near the top of the list, as well as several states located in the Great Plains, Nebraska, Iowa, and Minnesota. With opportunities all over the country, with a little research, you can find the perfect place for you.

Retirement

In a recent survey of 9,000 physicians nationwide, over 17% responded that they are planning to retire within 3 years.  This number is up from a similar survey conducted in 2016.  Considering that over 41% of physicians are age 56 and over, these results aren’t surprising. However, that same survey found 47% want to retire sooner than they had planned.  There are many reasons for wanting to retire early, maybe you have saved and invested well, and have achieved some financial independence. Or, maybe you are looking to spend more time with your family, or as in many cases, experiencing burnout.

New Setting, New You

While it is often mistakenly attributed to Albert Einstein, the definition of insanity is most certainly doing the same thing over and over and expecting different results.  The same can be said for your career as a physician.  If it isn’t going the way it should or you expected, 2019 is the time to make a change as evidenced by the 46% of physicians actively planning a new career path. Many physicians are changing their focus, almost 19% are now practicing telemedicine, 12% are planning to find a non-clinical position, and 30% are planning to cut back their hours with one-third of those going part-time.

If 2019 is going to be the year that you take your physician career to new places, Jackson Physician Search is the partner who can help you achieve new heights, find greener pastures, or simply find an opportunity that reignites your passion for medicine.  Contact one of our recruitment professionals today to get started.

5 Reasons Why Doctors Search for a New Jobs

Five Reasons Why Doctors Search For a New Job

If you pay any attention at all to the stock market or financial news, you already know that the economy is booming and the outlook for jobs is better than it has been in…

Physician Job Search

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

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…

Start Your Job Search

Click the Search Jobs button to browse our current openings.

Five Reasons Why Doctors Search For a New Job

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If you pay any attention at all to the stock market or financial news, you already know that the economy is booming and the outlook for jobs is better than it has been in decades.  The same can be said for physicians, as the healthcare industry is grappling with filling open positions around the country.  If you are a physician who has not been considering finding a new job, maybe now is the right time to start looking for a new place to practice.  Let’s take a look at five reasons why Doctors search for a new job to see if any of them apply to your situation.

Experiencing feelings of burnout.

At least 50% of all doctors report feelings of burnout, with some specialties like critical care and emergency medicine slightly higher.  If you are one of those physicians experiencing burnout without a solution or help from the administration on the horizon, now is the time to explore making changes.  Burnout doesn’t just get better by itself. Instead, it takes making changes in your life, or organizational changes to alleviate some of the stressors, or finding a new job that already has processes in place to help physicians avoid burnout.

Feeling a sense of complacency.

You probably didn’t choose to practice medicine because you wanted to “punch a clock.” If you are like most, you were drawn to the excitement of medicine.  Studying different ways to treat illnesses and ailments, and digging into the science of medicine was the attraction.  If you have found that your excitement and passion is waning, and you are simply going through the motions, you have become complacent.  Finding a new job may be just the cure for your “punching the clock” blues.  A new location, new management, new ideas, even new patients can help you inject just enough discomfort into your routine to make your job fun again.

You need to keep learning and growing.

Similar to the complacency rut, when you became a physician, you went to school for a long time.  It was worth it because you knew that in the end, you would have a career and a sense of accomplishment. No matter what career people choose, most of us want to continue to grow personally and professionally.  If you are in a position that is not affording you the opportunity to grow, do research, even practice abroad occasionally, then it might be time to find an employer who wants those things for you.

Not fitting in anymore.

Workplace culture has been a focal point for successful companies for a very long time.  Not surprisingly, the healthcare industry has been behind the curve on understanding the importance of how important culture and fit is for attracting and retaining the best talent.  In healthcare, we have all read about and even experienced the rash of mergers and acquisitions that the industry is experiencing.  These developments are not always good for workplace culture.  When new leadership comes in, often times the culture and communication changes and leads to good people seeking new environs.

Work and life are out of balance.

We all want balance in our life.  As a physician, you know there will be some late nights or the occasional disruption to your social calendar, but you also probably want to have some control over it. Predictable hours, minimal call schedules (if any), and untouchable vacation and personal time should be on your short list to ensure that you can achieve the work/life balance that is so critical to being at your best.  Achieving that is no longer a pipe dream. Hospitals and health systems know that they no longer have the upper hand in physician recruitment and have been much more willing to offer attractive incentives to physician candidates.

Jackson Physician Search has the national reach and healthcare industry experience to help you find your perfect job.  To find out what we can do for your career, contact one of our recruitment professionals today.

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