The Anonymous Physician column provides physicians with a platform to discuss pressing issues in healthcare. From time to time, we pose a question to a doctor, or a group of doctors, and post their answers anonymously, giving them the freedom to be frank and uninhibited. After all, we believe the best solutions come out of open discussion. This time, we’re taking on the topic of physician retention.

The Issue: Physician Retention

At MaxWorth, we’re always on the lookout for strategies that will help our healthcare clients retain their doctors. The physician shortage has escalated competition among healthcare organizations for physician talent. According to the NEJM, 25% of physicians leave a practice within their first three years, and the cost of replacing a single physician is estimated to reach $500,000. These numbers are staggering enough to motivate administrations to implement retention programs. But many of them also understand the importance of building a culture of continuity and strong working relationships. These things take time, and loyalty. To learn more about what inspires loyalty, we took the matter to our Anonymous Physician.

The question:

What’s keeping you at your hospital? Are there resources, benefits, or compensation programs that make recruiting calls a little less enticing? 

The Answer:

“Honestly, what’s keeping me at my hospital is the need to stay in the area for my wife and family. 

I do still have ties at my former hospital, and the reason I still have ties there is because I was/still am the stroke medical director, and leadership positions entice me. Especially those where the administrative staff gives you full support and also full rein to mold the program how you see fit.”

 

Anonymous Physician, Age 37