We believe the solution lies in the implementation of dynamic and better-aligned compensation and benefit programs that are specifically designed to retain physician talent while driving revenue and reducing expenses.
While the national three-year physician turnover rate is 25%, hospitals employing a more balanced suite of rewards only experience a turnover rate of 3.8% over the same time period. With the cost of turnover estimated at $500,000 per provider, in a 10-member physician population, the cost savings can reach a million dollars every three years.
Want to learn more? Read our latest case study.
In our latest case study, learn how to reduce cost and distance yourself from the competition with compensation programs designed to attract and retain physician talent while driving revenue and reducing expenses.