* Physicians go where they are invited.
* Physicians stay where they are well treated.
* Physicians grow where they are cultivated.
Is a Formal Physician Retention Plan really necessary?
Physician recruitment and retention is becoming increasingly difficult each year. More hospitals, group practices, and managed care organizations work harder to recruit and retain the best and brightest physicians. As competition continues to grow, we are seeing more aggressive physician relations programs to strengthen relations with physicians. With 84% of the hospitals and thousands of group practices and most managed care companies in America recruiting, many feel it has become a recruitment war. (In 1999, with 6000 physicians graduating from Residency programs, there were over 18,000 practice opportunities available.)
Direct recruitment costs average $30,000 per physician (This does not include relocation expenses). Additionally, the following costs associated with physician turnover should be considered:
• Patient Access
• Patient Turnover
• Gross Billings Lost
• Inpatient Revenue Lost
• Specialty Referrals Lost
Average annual turnover was 6.4% for all medical groups responding to the survey conducted by the American Medial Group Association — 5.2% for medical groups with more than 500 physicians and 6.9% for those with less than 500 physicians.
To read more about Physician Retention, go here – http://www.eskridge-associates.com/retention.html
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Bob Eskridge (bob@eskridge-associates.com) is the President of Eskridge & Associates (www.eskridge-associates.com) which specializes in the placement of physicians in both locum tenens and permanent opportunities nationwide. Bob has five industry certifications. He is a Certified Personnel Consultant (CPC), Certified Temporary Staffing Specialist (CTS), a Certified Physician Recruiter (PRC) and a Certified Employee Retention Specialist through the National Association of Personnel Services (NAPS). He is also a Certified Staffing Professional (CSP) through the American Staffing Association.
Bob Eskridge is also President of Eskridge Worldwide Travel (www.eskridgewwtravel.com) providing travel services for physicians as well as Eskridge Consulting (www.eskridgeconsulting.com), a practice helping others to realize their childhood dreams of becoming physician recruiters.
© Eskridge & Associates, 2008