The Top Reasons Why Your Physicians Are Leaving
Recruiting and retaining top-notch Physicians can be time-consuming and costly. With 17% of Physicians reporting that they are considering a career change in the next 12 months, it is critical to understand why Physicians are leaving their jobs(1). Organizations that possess insight into these departures can stem the tide of Physician flight while also saving time and money.
Findings from a recent Medicus Firm Physician Practice Preference & Relocation Survey* have shed some light into why Physicians are leaving their jobs and how it may affect your organization.
- CompensationThere's no surprise that the top reason Physicians leave a job is money. 29% of Physicians surveyed cited compensation as the main reason they were leaving for a new job opportunity.
- RetirementBaby Boomer Physicians are starting to reach retirement age, creating massive changes in the US healthcare system. Over the next ten years, over 40% of currently practicing Physicians will reach the eligible retirement age(2).
- ScheduleLong work hours, hectic schedules, and increased call hours are driving many Physicians to seek more lifestyle-friendly options elsewhere.
- Practice LocationGeographic relocation for family obligations or preferential practice locations is a popular reason for Physician job departures.
- Non-Clinical Job OpportunitiesPhysician burnout and ever-increasing uncompensated administrative tasks are helping to drive more Physicians out of clinical medicine and into non-clinical jobs. Employment opportunities for Physicians in the Pharmaceutical, tech, healthcare administration and writing fields are increasing as more medical expert knowledge is needed outside the clinic.
- Administrative HeadachesIn today's healthcare system, Physicians spend about 16% of their time on administrative tasks(3). This time frequently includes tasks that have nothing to do with direct patient care and become burdensome over time. Some of these headaches also stem from conflict with upper management that have differing views on practice management or policies.
Where are Physicians going?
The southeast United States is the most popular region for Physicians seeking new job opportunities. Almost one-third of early-career Physicians report a preference for practice opportunities located in the southeast(1). This area also outranked all other regions with seasoned Physicians, who reported the region as their top pick.