How Much is Your Signature Worth? Physicians Command $21,000 on Average To Sign for Employment

DALLAS, Feb. 14, 2012 /PRNewswire/ -- Hollywood celebrities and professional athletes are not the only people who may earn a handsome sum of money for an autograph. Physicians are often paid for their signatures too – when they sign an an employment contract.

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In 2011, 88 percent of physicians were paid an average of more than $20,000 to sign on the dotted line, according to physician placement data from over 100 healthcare employers nationwide. The signing bonus is paid in addition to full reimbursement for the physician's relocation costs. 

The Medicus Firm, a national physician recruiting firm compiled physician placement data from 103 healthcare systems, revealing several physician recruiting and practice trends among a variety of U.S. healthcare employers including large national and regional systems, rural or community hospitals, academic centers, and for-profit and not-for-profit hospitals.

"As hospitals compete to employ more physicians, the stakes get higher and administrators discover that what used to be considered extraordinary is now average, or expected, when recruiting top physicians," states Jim Stone, president and co-founder of The Medicus Firm.

"The Bureau of Labor Statistics projects the need for the addition of 17,000 physicians to hospital settings through the year 2020, and 126,000 additional doctors will be needed in outpatient settings. Therefore, successful physician recruiting strategies and incentives will be paramount for healthcare employers throughout the next decade," Stone adds.

Although the housing market remains sluggish, the percentage of physician relocations increased in 2011, as compared to 2010. Of the physicians placed in 2011, 93 percent moved to a new community for their new career opportunity.

Primary care remained the largest proportion of physician placements, but demand and placements in psychiatry and neurology increased dramatically. Additionally, placements in subspecialties of internal medicine grew from 12 percent to 18.6 percent.

Hospitals are employing physicians much more often than in recent years. Among the physicians placed in 2011, 83 percent were employment agreements with the hospital, (as opposed to 'recruiting agreements' to open or join a private physician-owned practice) and less than 5 percent of physicians were placed in solo practices.

About The Medicus Firm: The Medicus Firm of Dallas, TX specializes in permanent placement of physicians in hospitals, clinics, and practices nationwide. Visit www.TheMedicusFirm.com, or contact Andrea Santiago (800) 779-8804 x.224.

SOURCE The Medicus Firm