Issue link: https://viewer.e-digitaledition.com/i/1197558
Recruitment Incentives Vary Widely, Survey Finds GIVEN THE COMPE TITION FOR PHYSICIANS A S THE PROVIDER SHORTAGE INTENSIFIES, IT IS NO SURPRISE THAT MOST HOSPITALS AND OTHER HE ALTHCARE ORGANIZ ATIONS OFFER POTENTIAL HIRES A R ANGE OF INCENTIVES. CONTR ACT SWEETENERS RUN the gamut from signing bonuses to medical school loan repayment to retirement plans, but some are far more common than others, physician search firm Merritt Hawkins finds in a survey of more than 3,000 job-seeking physicians and advanced practitioners. Almost all organizations offer malpractice insurance, healthcare benefits, and continuing medical education and relocation allowances. Here are some of the other incentives, from most to least frequently offered in searches: + 401( k) or other retirement benefits — 94% + Production bonuses — 75% + Signing bonuses — 70% + E du c a t ion a l lo a n r ep a y- ment — 18% Among facilities that provide signing bonuses, physicians typically receive about $34,000, Merritt Hawkins found. For nurse practitioners and physician assistants, the average is about $12,000. As in past surveys, the most frequently requested recruiting assignment was for family medicine physicians. A 2019 study by the Association of American Medical Colleges (A A MC) suggests the U. S. could have a shor ta ge of a s ma ny as 122,000 physicians by 2032. A AMC projects a minimum shortfall of about 47,000 physicians by that year. n BY STEVE BARRETT • HIPAA compliance • Fraud & abuse compliance • Employment contracts • Mergers & acquisitions • Corporate compliance for non-profits • Affordable Care Act • Employment matters, including contracts, OSHA & workers' compensation • Supplier, third-party provider & insurance provider agreements • Practice formation & operation KWGD.com We do our job so you can do yours. 4775 Munson St. NW | Canton, OH 44718 | 877.876.9958 | 330.497.0700 | legal@kwgd.com | Offices Throughout Ohio KRUGLIAK, WILKINS, GRIFFITHS & DOUGHERTY CO., L.P. A. Our team of attorneys has been at the forefront of change and regulatory compliance in the healthcare industry for decades. WE DO WHAT WE DO, SO YOU CAN FOCUS ON MEDICINE.