Physician Retention Strategies - You've Got 'Em, Now, How Do You Keep 'Em?
Retaining the best talent is a key concern of all hospitals and practices. It costs an organization a significant amount of money to recruit a primary care physician. Replacing one primary care physician can result in $20,000 - $26,000 in recruitment costs, loss of $300,000 - $400,000 in annual gross billings, and the loss of $300,000 to $500,000 in inpatient revenue. The average annual turnover in medical practices is between 6-10%.In rural and underserved urban areas, the challenges for…See More
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