More physicians are considering employment than ever before, but many have concerns about the hospital-physician employment arrangement. Due to our current physician shortage, competition continues to rise among healthcare organizations for physician talent. Organizations have an opportunity to stand out from their competitors by addressing physicians’ top employment concerns: the alignment of values, compensation stability, and the potential to influence decision-making.
Physicians want to be a part of organizations that share their values as health care providers. Quality of care and patient satisfaction is important to them, and they want to work in an environment that supports improvement in these areas. Organizations can send the message that this is a top priority by linking compensation to quality metrics.
In a constantly changing industry, physicians want to know that they can rely on their employers’ compensation programs. Organizations can provide a sense of stability by offering programs designed to be financially sustainable. This not only addresses a major physician concern, it also helps administration with long-term planning.
When contemplating employment, many physicians are uncomfortable with the idea of giving up their autonomy. Hospitals have the opportunity to demonstrate their respect for their physicians’ point of view by actively seeking their input. Inviting staff to take part in decision-making processes in the form of physician committees provides them with a platform for participation.
By addressing physicians’ concerns, organizations can communicate their willingness to listen to their medical staff and address their needs. This goes a long way in establishing the kind of culture that’s going to attract top physicians and provide them with a rewarding working environment.
REQUEST OUR CASE STUDY
Complete the form below and receive a copy of our physician employment case study.
Want to Learn More?
Curbing ED costs could save rural hospitals By: Kyle Worthy A recent study confirms that rural hospitals are threatened by significant financial instability. Out of the country’s 1,844 rural hospitals, 453 are vulnerable to closure. In fact, nearly 50% are operating in the red, and this number is steadily increasing,…
The Politics of Pay Why nonprofit hospitals boards must be prepared to defend their executive compensation By: Kyle Worthy Competition for healthcare executive talent is on the rise. This is evidenced by reports that the average tenure of a hospital CEO is only 5.6 years and that 67% of executives…
Ambulance diversion and the struggle to secure 365 coverage By: Kyle Worthy Last week, a bill was introduced in congress that would require hospitals to report instances of diversion. Failure to do so would result in funding cuts. Diversion is the practice of turning away ambulances when an emergency department…
Healthcare leadership and the illusion of transparency By: Kyle Worthy As we discussed last week, physician burnout is a pressing issue in healthcare right now. Doctors have cited a lack of recognition and appreciation as a contributing factor to the growing problem. Having a strategy in place for demonstrating appreciation…