Important Factors Identified Influencing Physician Recruitment
Opportunities for compensation and improved life-work balance were the most important factors.
HealthDay News -- According to an article published in Medical Economics, opportunities for improved work-life balance and compensation are factors that influence whether an internal medicine physician will accept a position.
Noting that the recruitment market is highly competitive for internal medicine physicians, Cejka Search surveyed 102 internal medicine physicians completing residency in 2017 to identify the aspects of an employment offer that are most effective for recruiting.
The researchers note that the median annual compensation expectation was $236,104 among residents; most residents expected signing bonuses of between $10,000 and $25,000. Location and compensation (64 and 62%, respectively) were more important than type of practice and family needs (40 and 35%, respectively) when considering an opportunity. Most internal medicine physicians (53%) selected hospitals as their preferred practice location, and 52% selected a suburban community.
Profit sharing was considered the most important benefit to internal medicine physicians when considering a practice opportunity. Call pay, signing bonus, production incentive, time to partnership and a 4-day work week were the most important incentives. Benefits that could entice physicians to consider a less-desirable location included increased compensation, shorter work schedule, better call schedule, additional signing bonus and higher production bonus.
"The results show that there are several important factors, in addition to compensation, that influence whether an internal medicine physician will accept a position," according to the article.
"Top Factors Internal Medicine Residents Look For In A Job". Medical Economics. Updated November 19, 2016. Available at: http://medicaleconomics.modernmedicine.com/medical-economics/news/top-factors-internal-medicine-residents-look-job. Accessed November 28, 2016.