ST. LOUIS, Sept. 13, 2016 /PRNewswire/ -- Cejka Search's analysis of national average June 2016 employment data revealed that, within the family medicine specialty, there are 0.3 active physician candidates for every one open job in the U.S., and for internal medicine 0.6 for every one open job – driving salaries, signing bonuses and relocation bonuses steadily upwards over the past three years.
"The candidate-to-open-job ratios for primary care physicians are astounding, requiring healthcare employers who want to successfully compete for these doctors to be more creative and flexible in the design of job offers," said Cejka Search President John Gramer.
Compensation and Perks on the Rise for Primary Care Physicians
Compensation for primary care physicians is on the rise with average starting salaries of $202,430 in 2015 increasing to $220,000 in 2016, according to Cejka Search placement data. Over the same period, average signing bonuses have increased 65% and relocation bonuses 87%.
A survey of 764 Family Medicine residents conducted by Cejka Search shows that candidate expectations regarding perks and benefits outside of salary and bonuses have also risen. "What may have once been perceived as a differentiator, has become the expected standard in terms of an employment package," said Don Weis, vice president of Cejka Search's Physician Search division.
The vast majority of family medicine residents expect malpractice insurance (76.2%), medical insurance (70.2%), vacation time (68.8%), and even tail coverage (68.1%), according to the survey. What makes a job offer stand out by today's standards are benefits that go beyond the norms, such as:
- Loan forgiveness
- Early stipends to doctors coming out of residency
- Housing allowances or mortgage assistance
- Sizable retention bonuses paid at the conclusion of year one and year two
Making a Less Desirable Job Location More Attractive
Half (50.0%) of family medicine residents prefer to work in a suburban community, followed by rural (27.0%) and metropolitan (23.3%) communities. In addition, single-specialty (46.2%) and multi-specialty (43.0%) groups were ranked as the most desirable practice settings, followed by integrated delivery system (25.8%), hospital (24.7%), health system (19.4%), solo practice (18.3%), and managed care (8.6%).
With an abundance of career options available to primary care physicians, hospital and healthcare facilities in rural or otherwise recruitment-challenged markets, must go even further to attract candidates. In addition to paying higher salaries and bonuses, offering a shorter work week (47.2%) and a better call schedule (39.3%) are attractive incentives. Other trends observed by Cejka Search include job-sharing, a portion of practice hours met via tele-medicine, and providing more provider support including advanced practitioners.
"Forward-thinking healthcare employers look at the employment package as a whole; They understand that market dynamics are rapidly changing and what was competitive six weeks ago may no longer be competitive, and are willing to be responsive and creative to secure the right candidate," said Weis.
In addition, refining a physician search to emphasize those who have had a personal connection to the region significantly increases the probability of making a hire. Family resident physicians reported that when considering relocating for a job the factors most important to them are: being close to family (77.3%), lifestyle preferences (53.4%), personal ties to the area (34.1%), and having been trained in the area (29.6%).
For more information on the Family Medicine Resident Survey conducted by Cejka Search, visit Cejka Search Insights and download a copy of the report.
About Cejka Search
Cejka Search is a nationally recognized physician, health care executive, advanced practice and allied health search firm providing services exclusively to the health care industry for more than 35 years. Cejka Search recruits top health care talent for organizations nationwide through our team of experienced professionals, award-winning recruitment technology and commitment to service excellence. Cejka Search is a Cross Country Healthcare, Inc. (Nasdaq: CCRN) company, a leading provider of health care staffing services in the United States. For more information, visit http://www.cejkasearch.com.
Media Contact: Lisa McCarthy on behalf of Cejka Search email@example.com, (954) 328-1745.
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SOURCE Cejka Search