Ten Keys to Physician Retention
7. Employ the Physician
of physicians are employed by hospitals 77%
More than 77% of U.S. physicians are employed by hospitals, health systems or corporate entities, according to an Avalere study sponsored by Physicians Advocacy Institute ( Nearly 80% of Physicians Now Employed. Becker’s Hospital Review. April 11, 2024 ) For years, physicians have embraced employment as a safe harbor from the financial uncertainty, regulatory burdens, and reimbursement challenges of private practice, and this trend accelerated due to the effects of COVID-19 on physician practices. While employing physicians can help ensure closer alignment and retention, it will not solve the turnover problem unless practice conditions at the facility are favorable from the physician’s perspective (see below). 8. Create a Positive Workplace Like snowflakes, no two medical practices are alike. Some practices are more appealing than others, not necessarily because they are located by a beach or near the mountains, but because they feature a practice style and a work environment tailored to what physicians today prefer. Healthcare facilities cannot control the fact that they are not close to an ocean, but they can to some extent control the quality of the medical practice environment they are offering. The “ primacy of the workplace ” may be the most important factor to consider when seeking to enhance physician retention. First and foremost, physicians want a safe, efficient place to treat their patients, one in which they can focus on what they were trained to do. To the extent they can provide this type of positive environment, healthcare leaders are likely to build physician loyalty and rapport. For facilities that cannot creative positive working conditions for physicians, physician disengagement and turnover are inevitable.
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