2024 Review of Physician and Advanced Practitioner Recruiting Incentives
of recruiting engagements offered a CME allowance 89%
of recruiting engagements included medical education loan repayment 17%
Relocation Bonuses and Other Incentives Certain other incentives, such as paid relocation, paid CME, health insurance and malpractice insurance are featured in the majority of AMN Healthcare’s search engagements. Relocation allowances were offered in 55% of the recruiting engagements tracked in the 2024 Review period, down from 62% the previous year. Relocation allowances generally are not offered to candidates who will be practicing telemedicine and therefore not relocating, or to those who are recruited within their current place of residence. The average relocation allowance offered to physicians as tracked by the 2024 Review was $11,284, down from $12,778 the previous year. The average relocation allowance offered to NPs and PAs year was $7,910, down slightly from $7,997 last year. The majority of incentive packages tracked by the 2024 Review (89%) offered a continuing medical education (CME) allowance. The average CME allowance for physicians tracked in the 2024 Review was $3,969, up from $3,840 the previous year. The average CME allowance for NPs and PAs was $2,195, down from $2,299 the previous year. Medical Education Loan Repayment Seventeen percent of AMN Healthcare’s search engagements tracked in the 2024 Review featured medical education loan repayment, down from 18% the previous year. Educational loan repayment entails payment by the recruiting hospital or other facility of the physician’s medical school loans in exchange for a commitment to stay in the community for a given period of time. This can be an effective incentive since average medical school debt now is approximately $200,000, according to the Association of American Medical Colleges (AAMC). The average amount of loan forgiveness offered to physicians as tracked in the 2024 Review was $117,217, up from $98,665 the previous year. The average amount of loan forgiveness offered to NPs and PAs was $78,333, up from $70,769 the previous year. In 7% of contracts featuring educational loan forgiveness, the term of forgiveness was one-year, while 6% featured two-year terms and 87% featured three-year terms.
© AMN Healthcare 2024
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