Do you have a current opening that’s been difficult to fill? Want to get a sense for how hard it might be to fill an anticipated opening or backfill a soon-to-retire physician?
The PracticeLink Physician Recruitment Index provides physician recruiters two lists that help indicate which specialties could be the most challenging to hire.
By knowing which specialties are hardest to recruit and most in-demand, you can better anticipate the openings that may require a more aggressive recruitment strategy. That may be a more advanced database search, expanded marketing, or even a more appealing compensation package.
With that in mind, there are several resources available to complement your PracticeLink Physician Recruitment Index information to see how your offer may look vs. the competition.
The Association for Advancing Physician and Provider Recruitment now offers a Physician Compensation Structure, Benefits and Incentives Report. It examines information related to physician benefits, incentives, employment agreement terms, compensation methodology and employer scheduling practices for comparison purposes among in-house colleagues.
Medical Group Management Association (MGMA) is a national professional association for health care administrators and medical practice leaders. It provides a physician compensation report each year.
MGMA’s data has traditionally received widespread use. Over 80% of physician recruiters responding to the AAPPR 2019 In-House Physician Recruitment Processes Report stated they obtained physician compensation data from MGMA.
The MGMA Provider Compensation and Production report comprises data from more than 185,000 physicians and advanced practice providers in a variety of specialties. It includes details on compensation (including total pay, bonuses and incentives, and retirement); productivity (including work RVUs, total RVUs, professional collections and charges); benefit metrics (including hours worked and weeks of vacation) and access to additional research and analysis reports.
The information is part of the MGMA DataResources, which comprises benchmarking information in several practice management areas. Full access requires payment.
The American Medical Group Association (AMGA) is a professional membership organization representing large multispecialty medical groups.
Its 2021 Medical Group Compensation and Productivity Survey includes data from 398 medical groups and more than 190,000 providers and executives. The survey focuses on individual physician and clinical staff compensation and productivity; new resident and experienced new hire salaries; and salaries for physician leadership, nurse practitioners and physician assistants.
The AMGA survey is available to provider organizations for $1,700 for a printed publication or $3,400 for one year of access to the online portal, which includes customizable views and multiple display options. Non-provider organizations can purchase online portal access for a higher price. Up to a 50% discount may be available to AMGA members and corporate partners.
Sullivan, Cotter and Associates
Sullivan, Cotter and Associates is an independent consulting firm whose focus includes health care and other nonprofit organizations.
SullivanCotter’s 2021 Physician Compensation and Productivity Survey incorporates data from nearly 255,000 physicians, advanced practice providers and Ph.Ds.
Highlights include: base salary and total cash compensation, cost of benefits, productivity data and ratios, value-based compensation approaches and amounts paid, data for multiple position levels, and bonus and incentive information.
Participants can access the survey for $925, including $200 off for an early submission. Nonparticipants in health care can pay $3,700, while non-health care organizations must call for pricing.
About 53% of in-house physician recruiters responding to the AAPPR survey stated they use Sullivan Cotter/AMGA surveys.
Physician search firm Merritt Hawkins offers its compensation statistics at no charge.
Its 2021 Review of Physician and Advanced Practitioner Recruiting Incentives offers an overview of salaries, bonuses and other incentives used in physician and provider recruitment.
Another free resource is the Physician Compensation Report 2021 from medical news and perspective provider Medscape.
The survey includes overview physician salary and benefit statistics, including some breakouts by gender, region and specialty. The data is based on nearly 18,000 responding physicians representing more than 29 specialties.