Practical Ways to Attract and Keep Physicians

Transcription

1 Practical Ways to Attract and Keep Physicians

2 JACKSON PHYSICIAN SEARCH: FAST FACTS Serving clients nationwide for 40 years Headquartered in Atlanta Main regional offices in Dallas, Denver and St. Louis 5 satellite offices Modern Healthcare s Best Places to Work: #9 overall in supplier category #4 in best places for Millennials Great Place to Work Certified by independent analysts Fortune s 25 top small workplaces in the U.S. Dane Altman Senior Vice President, Business Development 2

3 AGENDA: RURAL RECRUITMENT PLAYBOOK State of the industry and trends in rural physician recruitment Emerging strategies for recruitment into rural communities Examples of ways to optimize recruitment & retention Key takeaways for your recruitment & retention playbook 3

4 THE PHYSICIAN SHORTAGE 4

5 RANKS IN THE TOP THREE CONCERNS FOR HOSPITAL CEOS 5

6 STATE OF THE INDUSTRY Projected physician shortfall between 40,800 and 104,900 by Physician s retirement decisions are projected to have the greatest impact on supply. Demographic trends continue to be the primary drivers of increasing demand from 2015 to If underserved populations had standard care utilization patterns, demand for physicians would rise substantially. Source: The Complexities of Physician Supply and Demand 2017 Update. IHS Markit for Association of American Medical Colleges. February

7 TRENDS IN RURAL RECRUITMENT Medical School Graduates Outnumber Residency Slots Visa Processing Backlog and Foreign Travel Restrictions Limits on Treatment Activity by Advanced Practice Providers Adverse Malpractice Climate 7

8 ACUTE SHORTAGE OUTSIDE OF MAJOR CITIES About 20% of Americans live in rural areas where many do not have easy access to primary care or specialist services Less than 8% of physicians practice in rural areas Your care and treatment shouldn t be dictated by ZIP Code. Source: Trend Watch, American Hospital Association; Doximity; Michael Adcock, Executive Director, Center for Telehealth, University of Mississippi Medical Center 8

9 FAMILY MEDICINE CANDIDATE POOL MidSouth Region Active Family Medicine Physicians 8,888 Est. Physicians Under 60 5,875 Available due to 6.8% Turnover 400 (+) 3Y Residents 264 Alabama, Arkansas, Kentucky, Louisiana, Mississippi, Tennessee Source: 2017 AAMC State Physician Workforce Data Book; 2018 NRMP Main Residency Match 664 Est. 8% Choose Rural 53 9

10 RURAL HOSPITAL CLOSURES January 2010 July 2018 North Carolina Rural Health Research Program Alabama Arkansas Kentucky Louisiana Mississippi Tennessee Graphic: Modern Healthcare, June and July 2018 Source: Beckers s Hospital Review, July

11 PERSPECTIVES ON THE RURAL CRISIS The problem with physician shortages is they hurt vulnerable people first. The mismatch is between the boomers aging and the physician workforce aging out simultaneously. The hospital was a force holding the community together. Without it, I think this community will probably disintegrate. Bottom line, this discussion is about the economic vitality and long-term sustainability of rural communities. *Darrell Kirch, MD, President & CEO, Association of America Medical Colleges; Mahmood Saddiqui, MD, Internist; Alan Morgan, CEO, National Rural Health Associtiona 11

12 ECONOMIC IMPACT Adding one physician to a community of 10,000 people is associated with a 5.3% reduction in average mortality. Each physician supports 14 jobs and $2.2 million in economic input for a community. $ Each physician vacancy costs an average of $1 million in lost revenue per year. Source: National Center for Rural Health Works, MGMA Compensation Report 12

13 RURAL RECRUITMENT PLAYBOOK OUTLINE State of the industry and trends in rural physician recruitment Emerging strategies for recruitment into rural communities Examples of ways to optimize recruitment & retention Key takeaways for your recruitment & retention playbook 13

14 REACHING PASSIVE CANDIDATES SEARCHING FOR JOBS INTERESTED, BUT NOT PROACTIVE HAPPY IN CURRENT POSITION 14

15 How far up the social/digital curve is your recruiting strategy? 15

16 2% 16

17 FIND PASSIVE CANDIDATES ONLINE Digital Recruitment is a Trend that is Here to Stay of all physicians use social media 31% for professional networking Source: Maximizing Multi-Screen Engagement Among Clinicians, Epocrates, Inc. 2013; MedTech Media

18 FIND PASSIVE CANDIDATES ONLINE Digital Recruitment is a Trend that is Here to Stay of U.S. physicians are on Doximity a Top 5 smartphone app used by the American College of 70% Physicians Source: Doximity; American College of Physicians 18

19 SOURCING CANDIDATES over 95% of physicians prefer to receive information about job opportunities via . 49% of healthcare professionals read job opportunity s after 6 p.m. Source: MMS Job Opportunity Preferences 19

20 16% contacted once per week Source: Doximity Physician Survey BEWARE...YOU MUST BE RELEVANT 39% multiple contacts per week Rise of the Digital Omnivore 55% of physicians get weekly job opportunities Less than 10% of recruiter communications are relevant 20

21 EMERGING STRATEGIES Use Digital and Social Media to be Fast AND Strategic 21

22 CULTURE AND ENGAGEMENT The Interview: Window to Your Culture Tailor the Interview Team to the Candidate Utilize Your Best Facility and Community Advocates Assign Topics & Ensure Consistent Message Explore the Candidate's Priorities and Motivations 22

23 CULTURE AND ENGAGEMENT The Interview: Selling the Vision Personalize and Strategize Every Interview Involve the Spouse and Family Community and Culture Should Match Physician s Values Share Your Vision and Community Impact 23

24 What attribute of your organizational culture is most appealing to new providers? 24

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26 When a candidate DECLINES AN OFFER, what is the most common reason? 26

27 MORE IMPORTANT THAN MONEY Two elements have the strongest relationship to satisfaction: Trust in the hospital / health system s leadership team Quality of communication across the hospital or health system Source: The Engagement Gap, Jackson Healthcare,

28 RURAL RECRUITMENT PLAYBOOK OUTLINE State of the industry and trends in rural physician recruitment Emerging strategies for recruitment into rural communities Examples of ways to optimize recruitment & retention Key takeaways for your recruitment & retention playbook 28

29 TRANSPARENCY Visits/Procedures Expenses Practice Overhead Profit/(Loss) Charges Work RVUs: RVUs & Expense (Cost) per Visit Expenses as % of Collections Patient Collections Gross Collection % Accounts Receivable Staffing Payer Mix based on Encounters 29

30 AUTONOMY Nationwide: Physicians Do Not Have Enough Control Over Their Time Not Enough Time with Each Patient Too Many Hours Per Week on Paperwork Source: Medscape Physician Compensation Report

31 SUSTAINABILITY Focus: Ties to Community and First Year Engagement 31

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33 YOUR SCORECARD Efficiency Interviews-to-Hire Time-to-Fill Recruitment Spend-per-Hire End Result Placements per Year Retention 33

34 YOUR SCORECARD Typical Recruitment Benchmarks 1 Total Placements 4 Acceptance Rate 2 Time-to-Fill 5 Recruitment Spend-per-Hire 3 Interviews-to-Hire 6 Retention 34

35 AGENDA: RURAL RECRUITMENT PLAYBOOK State of the industry and trends in rural physician recruitment Emerging strategies for recruitment into rural communities Examples of ways to optimize recruitment & retention Key takeaways for your recruitment & retention playbook 35

36 KEY TAKEAWAYS: PLAYBOOK RECAP Adopt modern recruiting technologies and techniques that provide a competitive edge Identify candidates with community ties or create them Tailor recruitment and retention team to match candidate and spouse Follow best practices that support transparency and autonomy Create benchmark metrics for sustainable performance and return on investment 36

37 ADDITIONAL RESOURCES Rural Physician Recruitment and Retention Playbook Physician Salary Calculator White Paper: Physician Workforce Through 2030 Guide to Developing a Strategic Physician Recruitment Plan Infographic Guides: Physician Trends, Engagement and Networking Case Studies Dane Altman, Senior Vice President, Business Development daltman@jacksonphysiciansearch.com