2024 Review of Physician and Advanced Practitioner Recruiting Incentives
Key Findings AMN Healthcare’s 2024 Review of Physician and Advanced Practitioner Recruiting Incentives reveals a number of trends within the physician and APP recruiting market, including: • Average starting salaries for physicians and APPs
• The average starting salary for family physicians was up 6.27% year-over-year , from $255,000 last year to $271,000 this year. • Though family physicians continue to be in demand, overall demand for family physicians and other primary care physicians is down significantly over previous years. • AMN Healthcare now conducts more searches for APPs, including NPs, PAs, and CRNAs , than it does for primary care physicians, highlighting ongoing patient migration away from primary care practices toward retail clinics, urgent care centers and telemedicine providers. • Only 14% of AMN Healthcare’s search engagements this year were for primary care physicians , down from 17% last year, while 23% of search engagements were for APPs, up from 19% last year. • The majority of AMN Healthcare’s search engagements this year (63%) were for physician specialists, including obstetrician/gynecologists, gastroenterologists, radiologists, cardiologists and other specialists who remain in strong demand, reflecting the needs of an aging population that is reliant on specialty care. • OB/GYNs were 2nd on the list of AMN Healthcare’s most requested physician search engagements this year , up from 4th last year. Demand for OB/GYNs remains strong, while supply may be inhibited by the Supreme Court’s Dobbs vs. Jackson decision, after which fewer medical school graduates opted for OB/ GYN residency positions. • 71% of AMN Healthcare’s search engagements were located in communities of 100,000 people or more, indicating that demand for physicians and APPs is not limited to small and/or rural communities. Following is a breakout of the characteristics and metrics of AMN Healthcare’s 2023/24 recruiting engagements.
were generally up year-over-year , with increases seen in 13 of the 20 specialties tracked in the Review and decreases in only four (there is no comparison data for three of the 20 specialties). • Orthopedic surgeons are offered the highest average starting salary of physicians tracked in the Review at $686,000, while pediatricians are offered the lowest ($244,000). • In addition to starting salaries, many physicians and APPs are offered signing bonuses. The average signing bonus for physicians is $31,473, while the average signing bonus for NPs and PAs is $11,758. • Physicians and APPs also often receive relocation and continuing medical education (CME) allowances in addition to salaries and signing bonuses. The average relocation allowance for physicians is $11,284, while the average relocation allowance for NPs and PAs is $7,910. The average CME allowance for physicians is $3,969, while the average CME allowance for NPs and PAs is $2,195. • NPs continue to be in strong demand and topped the list of AMN Healthcare’s most requested physician and APP search engagements for the fourth consecutive year. NPs are filling needs created by the physician shortage, and are being used to staff a growing number of urgent care centers, retail clinics, and telemedicine platforms. In addition, more specialty medical practices are employing them. • The average starting salary for NPs was up 8.6% year-over-year , from $158,000 last year to $164,000 this year, underscoring the strong demand for advanced practice nurses. • Family physicians topped the list of AMN Healthcare’s physician search engagements for the 18th year in a row, second only to NPs among search engagements of all types.
© AMN Healthcare 2024
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