Connecting Physician Recruitment, Retention and Revenue

Physician Supply and Demand

Projected physician shortfall between 40,800 and 104,900 by 2030. Demographic trends continue to be the primary drivers of increasing demand from 2015 to 2030. Physician’s retirement decisions are projected to have the greatest impact on supply. If underserved populations had standard care utilization patterns, demand for physicians would rise substantially. Achieving population health goals will likely raise demand for physicians.

Though the total pool of active primary care physicians is growing, it is not enough to keep up with demand and population growth which exceeds these numbers significantly. About 20% of Americans live in rural areas where many do not have easy access to primary care or specialist services. Only 10% of physicians practice in rural areas. From 2007 to 2015 the proportion of physicians over 55 has risen to over 43%.

Physician Compensation Trends

Be as transparent as possible regarding how the compensation formula works – salary, benefits, bonuses, incentives. Examples of popular hiring incentives are a stipend while training, student loan repayment, relocation, signing bonus, CME, paid time off, personalized incentives.

Physician Compensation by Geographic Region

• North Central – $317K
• Great Lakes – $303K
• Northwest – $301k
• South Central – $300K
• Southeast – $297K
• Northeast – $296K
• Southwest – $292K
• West – $290K
• Mid-Atlantic – $282K

Top Earning States for Physicians Overall

• North Dakota – $361k
• Alaska – $359K
• South Dakota – $354K
• Nebraska – $346K
• New Hampshire – $337K
• Wisconsin – $332k
• Utah – $327K
• Iowa – $325K
• Minnesota – $324K
• Indiana – $322K

To view the rest of the information about physician recruitment and revenue, click the download button.

 

How to Use Social Media for Physician Recruitment

Who do we target on Social Media

87% of physicians ages 26-55 are using social media – Source: CDW Healthcare 2015 Healthcare Social Media Report

65% of “traditional” physicians ages 56-75 are using social media – Source: CDW Healthcare 2015 Healthcare Social Media Report

94% of all physicians use smartphones for professional reasons – Source: Maximizing Multi-screen Engagement Among Clinicians, Epocrates, Inc.

31% of all physicians use social media for professional networking – Source: Maximizing Multi-screen Engagement Among Clinicians, Epocrates, Inc.

Why do we target on Social Media

• Projected physician shortfall between 40,800 and 104,900 by 2030
• Demographic trends continue to be the primary drivers of increasing demand from 2015 to 2030
• Physician’s retirement decisions are projected to have the greatest impact on supply
• If underserved populations had standard care utilization patterns, demand for physicians would rise substantially
• Achieving population health goals will likely raise demand for physicians

Source: Jackson Physician Search White Paper, Physician Workforce through 2030

Though the total pool of active primary care physicians is growing, it is not enough to keep up with demand and population growth – Source: AAMC 2016 Physician Specialty Data Report

About 20% of Americans live in rural areas where many do not have easy access to primary care or specialist services. Only 10% of physicians practice in rural areas. – Source: Trend Watch, American Hospital Association and Doximity

• 11% of physicians are actively seeking
• 76% are passively seeking
• 13% are not seeking

Embracing social and digital media as a core strategy in recruiting physicians and other providers has become central to recruitment success. But leveraging social media successfully requires both a keen understanding of the candidate pool and proficiency in social media to engage with them.

What is Social Media

LinkedIn – Great for networking and building relationships with slightly more formal tone. (36% Job Seekers)

Facebook – Great for highlighting the greatness of your target audience and offering them pointed and valuable job search tips. (83% Job Seekers)

Twitter – Great for sharing industry news, articles, stats. (40% Job Seekers)

Doximity – Great for sourcing candidates and potentially sharing relevant content through Doximity’s many recruiter tools. (70% Job Seekers)

How do we use Social Media

Create Brand Awareness 

Hospital Brand – 56% of job seekers ranked employer brand, the company’s reputation as a great place to work, as the deciding factor

Recruiter Brand – Have a professional looking account that uses keywords, high-quality photos, and relevant content to establish your personal brand

Industry Brand – Make sure that your social media strategy reflects your understanding of the industry

Share Content

Sharing high quality, engaging content is the best way to be successful on social media.

Build Your Network

Use your CRM for targeting

Connect with influencers

Boost posts to targeted audiences

Join Groups

Promote your social presence at Networking Events

Source Candidates

Doximity – Talent Finder Tool

LinkedIn – Linkedin Recruiter Tool

Post Jobs

Highlight interesting or unique positions

Make your job posts visually appealing

Include important information and a link to the position

Remember this Acronym

• Segment
• Engage
• Authentic
• Relevant
• Credible
• Habit

You can find more physician recruitment tips here.