AMGA: Physician turnover rate mirrors economy
In 2010, physicians' turnover rate was 6.1 percent, up slightly compared to the rate of 5.9 percent in 2009, according to the sixth annual Physician Retention Survey conducted by the American Medical Group Association (AMGA) and Cejka Search.
“This change appears to track with conditions in the economy and housing markets,” the Alexandria, Va.-based AMGA stated. “The trend is consistent with anecdotal reports and findings in the 2008 survey that the worsening economy and plummeting home sales cause physicians to delay retirement and relocation—key drivers of recruitment and activity.”
Healthcare executive search firm Cejka Search and AMGA e-mailed 383 AMGA-member medical organizations. Survey data were collected from November 2010 through January 2011. A total of 62 survey responses were compiled, representing a 16.2 percent survey response rate. In 2010, the 62 respondents collectively employed 17,624 physicians.
The average size of the groups responding to the survey has nearly doubled in the last six years, from an average of 146 physicians to 284 physicians, AMGA stated. Female physicians comprised 34 percent of physicians represented in the 2010 survey, compared with 28 percent in 2005.
Growth in the gross domestic product (GDP) and the leveling of steep declines in home sales may partially explain the uptick in turnover in 2010, AMGA stated. Looking ahead, the majority of respondents in the 2010 survey said they believed that retirement will increase (27 percent) or continue at the current rate (65 percent).
In the 2010 survey, 51 percent of respondents said they do not encourage physicians to delay their retirement, but 49 percent do in some circumstances. Of those who try to keep physicians in practice, they most frequently incent them with flexible hours (90.6 percent), no call (62.5 percent) and/or reduced call (65.6 percent).
Medical groups who are retaining physicians are the ones that provide flexible practice models that support lifestyle choices made by physicians, according to the report, which found the part-time workforce has grown by 62 percent since 2005. In the 2010 survey, 13 percent of male physicians practiced part-time and 36 percent of females practiced part-time, compared to 7 percent and 29 percent, respectively, in 2005.
About 73 percent of respondents believe mentoring reduces turnover, and 56.1 percent assign a mentor to newly hired physicians, the survey showed. “For those who assign a mentor, a formalized program makes a difference," the report stated. "The turnover rate was one percent lower (5.3 percent) for groups that have written goals and guidelines compared with those who do not assign a mentor (6.3 percent).”
The consensus from the medical groups responding to the 2010 survey indicated that the hiring of physicians and advanced practice providers will accelerate through 2011, AMGA concluded.
“This change appears to track with conditions in the economy and housing markets,” the Alexandria, Va.-based AMGA stated. “The trend is consistent with anecdotal reports and findings in the 2008 survey that the worsening economy and plummeting home sales cause physicians to delay retirement and relocation—key drivers of recruitment and activity.”
Healthcare executive search firm Cejka Search and AMGA e-mailed 383 AMGA-member medical organizations. Survey data were collected from November 2010 through January 2011. A total of 62 survey responses were compiled, representing a 16.2 percent survey response rate. In 2010, the 62 respondents collectively employed 17,624 physicians.
The average size of the groups responding to the survey has nearly doubled in the last six years, from an average of 146 physicians to 284 physicians, AMGA stated. Female physicians comprised 34 percent of physicians represented in the 2010 survey, compared with 28 percent in 2005.
Growth in the gross domestic product (GDP) and the leveling of steep declines in home sales may partially explain the uptick in turnover in 2010, AMGA stated. Looking ahead, the majority of respondents in the 2010 survey said they believed that retirement will increase (27 percent) or continue at the current rate (65 percent).
In the 2010 survey, 51 percent of respondents said they do not encourage physicians to delay their retirement, but 49 percent do in some circumstances. Of those who try to keep physicians in practice, they most frequently incent them with flexible hours (90.6 percent), no call (62.5 percent) and/or reduced call (65.6 percent).
Medical groups who are retaining physicians are the ones that provide flexible practice models that support lifestyle choices made by physicians, according to the report, which found the part-time workforce has grown by 62 percent since 2005. In the 2010 survey, 13 percent of male physicians practiced part-time and 36 percent of females practiced part-time, compared to 7 percent and 29 percent, respectively, in 2005.
About 73 percent of respondents believe mentoring reduces turnover, and 56.1 percent assign a mentor to newly hired physicians, the survey showed. “For those who assign a mentor, a formalized program makes a difference," the report stated. "The turnover rate was one percent lower (5.3 percent) for groups that have written goals and guidelines compared with those who do not assign a mentor (6.3 percent).”
The consensus from the medical groups responding to the 2010 survey indicated that the hiring of physicians and advanced practice providers will accelerate through 2011, AMGA concluded.