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The Innovation Imperative for Physician Retention

Amid the Great Resignation (or Great Reshuffle), many hospitals and medical practices have struggled to retain clinicians, placing significant strain on resources, staff and a practice’s ability to deliver access to care. While there are significant challenges ahead of medical practices, there is a light at the end of the tunnel. By formalizing physician retention strategies, administrators can stem the tide of resignations and build a sustainable staffing structure.

LocumTenens.com partnered with MGMA to conduct independent research on physician retention. A survey was sent to physicians and healthcare administrators in the MGMA database. Those responses were analyzed by experts in the healthcare industry to formulate the report, “The Innovation Imperative for Physician Retention.” VP of Clinical Operations Pamela Ograbisz and SVP of Enterprise Solution Scott Selby spoke about the importance of incorporating these solutions in a staffing strategy on an episode of MGMA’s podcast.

Key findings

Lack of retention

Lack of Retention Strategy

77% of medical groups report they do not have a formal program or strategy for physician retention.

Career Development Plans are Rare

Career Development Plans are Rare

Less than one-third of respondents use either individual development plans or promotion/advancement rates with their physicians to measure progress toward career goals.

Compensation Drives Retention

Compensation Drives Retention

Higher compensation, bonuses and benefits for physicians are viewed as the top factor to retain physicians, as noted by 71% of all respondents.

Telehealth and Hybrid Models

Telehealth and Hybrid Models are Slow to Take Hold

44% of respondents actively encourage hybrid work for eligible positions.

Overlooked Opportunities

Overlooked Opportunities

The ability to offer additional support through locum tenens providers may be an overlooked option among some organizations, as only 2% of respondents saw it as a factor for influencing physician retention.

With the right combination of compensation, culture and support, healthcare organizations can innovate their way through the Great Resignation and gain the productivity that will provide the revenue recovery many are looking for in the age of inflation.

Download the full report