In today's evolving healthcare landscape, experienced physicians want more from their jobs than just a steady paycheck. Factors such as schedule flexibility, community and quality-of-care standards may cause physicians to seek new opportunities.
According to the Association of Staff Physician Recruiters 2016 Annual Report, in 2015, the average organization had a physician turnover rate of 6.8 percent; and at organizations serving larger populations (between 250,001 and 500,000), turnover rates for physicians were 14 percent.
For your physician recruitment efforts to succeed, you'll need to understand why doctors leave organizations and what they expect to find in new positions.
Why independent physicians leave
Since 2000, the percentage of physicians in private practice has decreased. A study by Accenture found that just 33 percent of physicians belonged to the private practice sector in 2016, down from 57 percent in 2000.
Where are they going? Many independent physicians are transitioning to larger care groups or hospitals. Healthcare Dive reported changes in reimbursements have forced physicians to seek employment.
"Payments are being tied to quality that's hard to measure, technology that's expensive to implement and complex compliance issues that demand extensive overhead," Dr. David Friend, chief transformation officer at BDO's Center for Healthcare Excellence & Innovation, told Healthcare Dive.
Another driving factor behind this physician migration may be the increased involvement of millennials in the medical workforce. The Ohio Hospital Association reported millennials are more likely to leave a position if they dislike their work environment compared to baby boomers.
What doctors want in a new position
Millennials are currently the largest generation in the U.S., which means physician recruitment tactics must account for this generation's unique perspective on the healthcare industry. Compared to the largest prior generation, the baby boomers, millennials are more likely to want an independent voice in the workplace.
OHA reported millennials prioritize the organization's overall commitment to quality care over daily contributions to the organization's mission - in other words, where baby boomers valued the smaller picture, millennials are more likely to consider the larger goal.
There are also more women in the healthcare workforce than ever before. Consider this: more than 30 percent of the licensed physician workforce is made up of women under 40. Men under 40 make up about 15 percent of the licensed physician workforce.
The American Academy of Family Physicians noted women expect more flexibility from their employers. This group tends to value professional partners who are willing to help when personal obligations arise.
Recruiters should strive to address these needs when searching for physicians via online job boards. ASPR found that 20.9 percent of all filled positions come from online job boards.
If you're ready to find experienced physicians who want a positive career change, post your next job on myHealthTalent.com.
ASPR 2016 Benchmark Report