The data also showed that payment attached to quality metrics, such as patient satisfaction, treatment protocols and more, typically represented between 5% and 10% of physician compensation. Other additional payments included an average of $11,667 for a signing bonus, $9,333 for a relocation allowance and $2,000 annually for continuing education.
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Explore This IssueApril 2018
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As part of a large private, single specialty group, Kevin Kempf, MD, FACP, FACR, partner, Rheumatology Associates of South Texas, San Antonio, says his practice can’t compete with large health systems on salary and benefits. Rather, the practice finds its competitive edge in functioning as a partnership. “The ultimate goal is to have a partner rheumatologist who owns equity in the practice—making them personally vested in the practice’s success,” he says. “This [incentive] has been very successful; no physicians have left the practice since it opened in 2005. In fact, we added four more [physicians],” he says.
“We seek out more independent-minded physicians who want more decision-making ability and independence in how they practice medicine,” Dr. Kempf continues. The practice offers a starting salary with a guaranteed base pay, an option for quality-based payments, a continuing education allowance, malpractice insurance and 401(k) plan eligibility on the first day of employment.
Online: Individual groups can promote their practices through their websites, which should have a recruiting component, such as a “Join Us!” tab. “It’s always helpful to have video testimonials from physicians and other clinicians on your website, extolling the group’s employment benefits,” Mr. Singleton says.
Dr. Kempf says maintaining an excellent reputation for your work environment is also key. “If our clinical and administrative staffs are happy, they will in turn take good care of our patients, which will help provide the high quality we strive for,” he says. “This attracts talent at all levels.”
Karen Appold is a medical writer in Pennsylvania.