Knowing what motivates physicians can be a powerful recruiting tool.
The Hire Connection team has been looking at the
Medscape Physician Compensation Report 2014 that contains some excellent insight into physician job satisfaction, motivation, and expectations of the current healthcare system in the United States. Here are some highlights about physician compensation and job satisfaction from this report:
Do physicians feel fairly compensated?
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| http://www.medscape.com/features/slideshow/compensation/2014/public/overview#8 |
Compensation is an important motivator for about 1/2 of the physicians surveyed.
Which Physicians feel MOST fairly compensated?
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| http://www.medscape.com/features/slideshow/compensation/2014/public/overview#9 |
Orthopedists were the most highly paid physicians, but they fell below the middle of this list, with only 45% believing that they are fairly compensated. And although plastic surgeons were seventh among the top earners, at 37% they were the least likely of all physicians to believe that they are fairly paid. On the other hand, although dermatologists are not among the top 5 earners, they, more than any of the other specialists, believe that their compensation is fair (64%).
Would you choose the same specialty?
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| http://www.medscape.com/features/slideshow/compensation/2014/public/overview#24 |
At 77%, dermatologists were number one, although only 53% said they would actually choose medicine again. Internists were last on the list in choosing their specialty again (27%), followed in discouragement by family physicians (32%). Of note, however, internists had the highest percentage of those who would choose medicine as a career again (68%), with family physicians tied for second place with HIV/ID specialists at 67%. An interesting note with this...Plastic Surgeons are at the bottom of the group that feel properly compensated, but are in the top group with satisfaction in their medical specialty.
Would you choose medicine as a career again?
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| http://www.medscape.com/features/slideshow/compensation/2014/public/overview#23 |
Current compensation levels do not appear to influence whether a physician would choose medicine again. The least likely to choose medicine again (plastic surgeons, orthopedists, radiologists, anesthesiologists) were also among the top earners. These specialists generally perform procedures and might perceive their incomes as declining under future regulations, which could have affected how they answered this question. Conversely, those who are on the low rungs of earnings (internists, family physicians, pediatricians, and infectious disease specialists) were in the top 5 for choosing medicine again.
Overall Career Satisfaction
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| http://www.medscape.com/features/slideshow/compensation/2014/public/overview#25 |
To determine general career satisfaction level, Medscape averaged the percentages of physicians who would choose medicine and their specialty again and the percentages of those who thought they were fairly compensated. After making the calculation, the most satisfied physicians were dermatologists (65%) and then psychiatrists (58%) -- a large gap between first and second place. The least satisfied, from the bottom up, were plastic surgeons (45%) and then neurologists and internists (47%).
What is the most rewarding part of your job?
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| http://www.medscape.com/features/slideshow/compensation/2014/public/overview#26 |
The majority of physicians surveyed would choose medicine as their career page, with slightly under half choosing the same specialty. The eye catching stat here is that most physicians are unhappy with their practice setting. In a future blog, we will highlight some reasons why physicians may be unhappy with where they work!
For a full look at report -
http://www.medscape.com/features/slideshow/compensation/2014/public/overview#30
Survey sample size - 24, 075 physicians
Survey dates - December 11th 2013 - January 24th 2014
Data collected via third-party online survey collection site
We have a large amount of experience in working with medical facility CEOs, COOs, CFOs, and human resource departments. Setting the right compensation level can be the key to garnering the right candidate and we can help!
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healthcare recruitment services. Coupling technology, expertise and accountability, The Hire Connection services are designed to source, screen, qualify, present and place the RIGHT providers to satisfy recruitment goals and improve provider retention. Give us a call today!
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