Current Physician Landscape
The physician workforce has become more competitive over the last few years due to increasing physician shortage and new changes with the Affordable Care Act. The premise of this act is that our country will have enough primary care physicians and specialists to care for 32 million newly insured individuals. According to the Association of American Medical Colleges, total physician demand is projected to rise up to 17% by 2025. The demand for physicians will exceed the supply by a range of 46,000 to 90,000. The big question when it comes to medical recruitment is, “Will we have enough?”
Understanding the newest and latest medical recruitment trends, especially for physicians, can help employers gain an edge in attracting and retaining top talent. Here are some notable highlights from MDR Healthcare‘s report, “Physician Shortage: Compensation Trends & Effects on Recruitment.”
- Mobile – Over two thirds of physicians browse career sites and social media opportunities from a mobile device, and 45% use their phones for search.
- Remote Work Opportunities – 6% of physicians move jobs annually (historic average). Telemedicine has grown in popularity, both with employers and physicians themselves. Telemedicine is helping physicians connect with patients without having to uproot their lives.
- Marketing – Physicians are being inundated with messages. In order to cut through the noise, engage with physicians and nurture them through the recruitment cycle until they are ready to join the organization.
- Retention – Many organizations have begun placing more emphasis on recruiting physicians for culture fit, lengthening the onboarding process and instituting robust mentorship programs.
- Recruiting – Post your jobs to niche physician specific boards such as, Physemp, PhysicianCareer, Practicelink, Doximity, etc. to get in front of this audience. Also, according to Indeed, employers post the most jobs on Indeed in October, but job seekers tend to search for these roles in January, so that would be best time to hire this talent.
Proposed Actions for Employers
- The greater demand for physicians enables qualified individuals to have more input on reimbursement and greater leverage in negotiating total compensation with prospective employers.
- Fewer medical students are opting to specialize in primary care since it typically offers less payout.
- More employers are being urged to offer “pot sweeteners” or incentives like loan forgiveness, ample relocation assistance, and sign-on bonuses to attract new talent. Doing so when the base salary is otherwise underwhelming can give an organization a competitive advantage in medical recruitment.
- Health systems are encouraged to create robust physician referral programs to reward existing employees for referring a physician for an open position. This program not only produces more candidates for less financial investment, but also improves the chances of a physician joining the organization since their colleague is already an employee there.
- Community health centers and other qualified organizations are taking advantage of an Affordable Care Act incentive that enables such health centers to more easily participate in the education of residents. Residents who complete rotations in high-need areas and community health centers are more likely to practice in such an environment after completing their training.
Are you looking to recruit physicians? We have additional data that we can share to help with you this initiative. Contact us!