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Practice paper

Physician recruiting incentives: Salaries, signing bonuses, value-based pay and benefits

Kurt Mosley and Phillip Miller
Management in Healthcare: A Peer-Reviewed Journal, 4 (1), 49-56 (2019)
https://doi.org/10.69554/GLCF7053

Abstract

In order to recruit physicians, healthcare facilities must offer salaries and other incentives customarily included in physician employment contracts. This paper outlines the cost/benefits of offering such incentives and also examines the specific incentives typically used to recruit doctors today, including salaries, production bonuses, signing bonuses, continuing medical education bonuses and others. The paper further reviews how other features of the employment contract, including schedules and work hours, shape the overall character and dynamics of a practice. The paper concludes with a discussion of non-competes, admitting privileges, termination and tail coverage.

Keywords: physician compensation; physician economic impact; physician employment contracts; signing bonuses; value-based payments.

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Author's Biography

Kurt Mosley serves as Vice President of Strategic Alliances for Merritt Hawkins and Staff Care, companies of AMN Healthcare (NYSE: AMN), the largest health staffing organisation in the United States as ranked by Staffing Industry Analysts. With over 28 years of healthcare staffing experience, Mosley is a leading authority on medical staffing trends and has been cited for his expertise in numerous publications, including USA Today, U.S. News & World Report, Modern Healthcare, Hospitals & Health Networks, HealthLeaders and Medical Economics. Mosley served on the Council on Physician and Nurse Supply, a group of healthcare experts based at the University of Pennsylvania dedicated to finding solutions to the shortage of nurses and physicians. A nationally noted speaker, Mosley has addressed over 70 healthcare professional organisations over the last two years, reaching over 5,000 industry leaders. A graduate of California State University, Fullerton, Mosley resides in Dallas, Texas.

Phillip Miller serves as Vice President of Communications for Merritt Hawkins and Staff Care, companies of AMN Healthcare, the largest healthcare staffing organisation in the United States as ranked by Staffing Industry Analysts. Miller has over 33 years of experience in corporate communications, including over 30 years with Merritt Hawkins. Miller has authored or co-authored dozens of articles on healthcare staffing issues for numerous journals, including Health Affairs. He is the author or co-author of four books, including Will the Last Physician in America Please Turn Off the Lights? A Look at America’s Looming Doctor Shortage; Merritt Hawkins’ Guide to Physician Recruiting; and Have Stethoscope, Will Travel, Staff Care’s Guide to Locum Tenens. Miller is the lead author of a number of national surveys and white papers, including Health Reform and the Decline of Physician Private Practice, a major white paper completed by Merritt Hawkins on behalf of the Physicians Foundation, a non-profit, grant-making organisation comprising 20 state and regional medical societies. Miller is the lead analyst and author of A Survey of America’s Physicians: Practice Patterns and Perspectives, of one of the largest physician surveys conducted in the United States, which is commissioned biennially by the Physicians Foundation. Miller is also the lead analyst and author of survey reports completed by Merritt Hawkins on behalf of the Indian Health Service, Trinity University’s Department of Healthcare Administration, the American Academy of Physician Assistants and other organisations. A graduate of the University of Texas, Austin, Miller resides in Dallas, Texas.

Citation

Mosley, Kurt and Miller, Phillip (2019, September 1). Physician recruiting incentives: Salaries, signing bonuses, value-based pay and benefits. In the Management in Healthcare: A Peer-Reviewed Journal, Volume 4, Issue 1. https://doi.org/10.69554/GLCF7053.

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cover image, Management in Healthcare: A Peer-Reviewed Journal
Management in Healthcare: A Peer-Reviewed Journal
Volume 4 / Issue 1
© Henry Stewart
Publications LLP

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