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Physician compensation plans

 

You’ve worked countless hours hiring a physician for a vacant role. You find the perfect candidate, who is just as excited as you about joining the team. Then, right before it’s time to sign the contract…poof! They vanish, never to be heard from again. Does this sound familiar? Sadly, this is a story we’ve heard far too often. Complicated compensation packages can hurt The weight of loan repayment is impacting where physicians choose to work - not surprising when 73% of them graduate with student debt. Often, physicians (especially recent graduates) don’t unders....

 

 

Pros and cons of including salary in job postings

 

One of the first steps in attracting top talent when recruiting physicians is crafting quality job postings. Over my years of interaction with recruiters, I’ve learned this is not always easy. There is so much information to put in a limited space - qualifications, schedule, facility information, culture and why they should choose your company. When deciding which details to include, many organizations choose not to exclude one of the major incentives for candidate consideration: salary. Whether your organization chooses to include salary information or not, we can all agree the topic ....

 

 

Physician compensation models

 

As health care systems respond to a changing market and payer and regulatory priorities, compensation plans have evolved, too. For example, according to the MGMA 2022 DataDive Provider Compensation study, 42 percent of medical groups surveyed have added value- or quality-based pay to their physician compensation plans. This reflects a steady climb from just over a quarter of groups surveyed in 2016. This trend is a predictable response to changes in payer contracts and government programs, which are evolving to emphasize measures beyond sheer production, especially in relation to hospitals and....

 

 

5 ways offering stipends to medical students can combat the physician shortage

 

In recent years, a pressing concern stands out in the medical field: the physician shortage. As populations grow and age, the demand for medical services surges, putting a strain on healthcare systems worldwide. To combat this looming crisis, one approach has gained traction - offering stipends to medical students for early hiring or incentivizing early physician hiring. This innovative strategy not only addresses the shortage of providers but also nurtures a sustainable health system. Understanding the physician shortage The physician shortage is a challenge caused by many factors: an aging....

 

Read PracticeLink articles by Megan Trippi Megan Trippi
 

Offering stipends to medical students

 

To combat the looming physician shortage, one approach that’s gained traction is offering stipends to medical students for early hiring or incentivizing early physician hiring. This innovative strategy not only addresses the shortage of providers but also nurtures a sustainable health system. The physician shortage is a challenge caused by many factors: an aging population requiring increased medical care, a growing prevalence of chronic diseases and the expanding scope of medical services. In the United States alone, the Association of American Medical Colleges (AAMC) projected a shorta....

 

 

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