Practical Ways to Attract and Keep Physicians · 6 Projected physician shortfall between 40,800 and...

Practical Ways to Attract and Keep Physicians

JACKSON PHYSICIAN SEARCH: FAST FACTS

• Serving clients nationwide for 40 years

• Headquartered in Atlanta

• Main regional offices in Dallas, Denverand 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.

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Dane AltmanSenior Vice President,Business Development

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AGENDA:RURAL RECRUITMENT

PLAYBOOK

State of the industry and trendsin rural physician recruitment

Emerging strategies for recruitment

into rural communities

Examples of ways to optimize

recruitment & retention

Key takeaways for your

recruitment & retention playbook

THEPHYSICIAN SHORTAGE

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RANKS IN THE

TOP THREE CONCERNS

FOR HOSPITAL CEOS

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Projected physician shortfall

between 40,800 and 104,900

by 2030.Demographic trends

continue to be the primary

drivers of increasing

demand from 2015 to 2030.

Physician’s retirement

decisions are projected to

have the greatest impact

on supply.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 2017

STATE OF THE INDUSTRY

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Medical School Graduates Outnumber

Residency SlotsLimits on Treatment Activity

by Advanced Practice

Providers

Visa Processing Backlog

and Foreign Travel

RestrictionsAdverse Malpractice Climate

TRENDS IN RURAL RECRUITMENT

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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

Source: Trend Watch, American Hospital Association; Doximity; Michael Adcock, Executive Director, Center for Telehealth, University of Mississippi Medical Center

“Your care and treatment shouldn’t be dictated by ZIP Code.”

Less than 8%of physicians practice in rural areas

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FAMILY MEDICINE CANDIDATE POOLMidSouth Region

Active Family Medicine Physicians8,888

Est. Physicians Under 605,875

Available due to 6.8% Turnover400

(+) 3Y Residents264

664

Est. 8% Choose Rural

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Alabama, Arkansas, Kentucky, Louisiana, Mississippi, Tennessee

Source: 2017 AAMC State Physician Workforce Data Book;2018 NRMP Main Residency Match®

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Source: Beckers’s Hospital Review, July 2018

Alabama

Arkansas

Kentucky

Louisiana

Mississippi

Tennessee

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0

4

0

5

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RURAL HOSPITAL CLOSURES

January 2010 – July 2018North Carolina Rural Health Research Program

Graphic: Modern Healthcare, June and July 2018

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PERSPECTIVES ON THE RURAL CRISIS

“The mismatch is between the boomers aging and the physician workforce aging out simultaneously.”

“The problem with physician shortages is they hurt vulnerable people first.”

*Darrell Kirch, MD, President & CEO, Association of America Medical Colleges; Mahmood Saddiqui, MD, Internist; Alan Morgan, CEO, National Rural Health Associtiona

“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.”

ECONOMIC IMPACT

Each physician supports 14 jobs and $2.2 million in economic input for a community.

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Adding one physician to a community of 10,000 people is associated with a 5.3% reduction in average mortality.

Source: National Center for Rural Health Works, www.ruralhealthworks.org; MGMA Compensation Report

Each physician vacancy costs an average of

$1 million in lost revenue per year.$

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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

REACHING PASSIVE CANDIDATES

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SEARCHING FORJOBS

INTERESTED, BUTNOT PROACTIVE

HAPPY IN CURRENTPOSITION

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

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2%

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FIND PASSIVE CANDIDATES ONLINEDigital Recruitment is a Trend that is Here to Stay

of all physicians use social media for professional networking31%

Source: Maximizing Multi-Screen Engagement Among Clinicians, Epocrates, Inc. 2013; MedTech Media 2015

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FIND PASSIVE CANDIDATES ONLINEDigital 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 Physicians70%

Source: Doximity; American College of Physicians

of physicians prefer to receive information about job

opportunities via email.

Source: MMS Job Opportunity Preferences

49% of healthcare professionals read job opportunity emails after 6 p.m.

over

95%

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SOURCING CANDIDATES

Rise of the Digital Omnivore

Source: Doximity Physician Survey

BEWARE...YOU MUST BE RELEVANT

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16%contacted

onceper week

39%multiple contactsper week

55%of physicians get

weeklyjob

opportunities

Less than

10%of recruiter

communications are

relevant

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EMERGING STRATEGIES

Use Digital and Social Media to be Fast AND Strategic

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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

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Share Your Vision and Community Impact

Community and Culture Should Match Physician’s Values

Involve the Spouse and Family

Personalize and Strategize Every Interview

The Interview: Selling the Vision

CULTURE AND ENGAGEMENT

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

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

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MORE IMPORTANT THAN MONEY

Source: “The Engagement Gap,” Jackson Healthcare, 2016

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

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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

TRANSPARENCY

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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

AUTONOMY

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Source: Medscape Physician Compensation Report 2017

Too Many Hours

Per Week onPaperwork

Not Enough Time with

Each Patient

Nationwide: Physicians Do Not Have Enough Control Over Their Time

SUSTAINABILITY

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Focus: Ties to Community and First Year Engagement

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YOUR SCORECARD

End Result

Placements per Year

Retention

EfficiencyInterviews-to-HireTime-to-FillRecruitment Spend-per-Hire

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YOUR SCORECARD

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2

3

4

5

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Total Placements

Interviews-to-Hire

Time-to-Fill Recruitment Spend-per-Hire

Retention

Acceptance Rate

Typical Recruitment Benchmarks

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AGENDA: RURAL RECRUITMENT PLAYBOOK

State of the industry and trendsin rural physician recruitment

Emerging strategies for

recruitment into rural communities

Examples of ways to optimize

recruitment & retention

Key takeaways for your

recruitment & retention playbook

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Identify candidates with community ties – or create them

Tailor recruitment and retention team to match candidate

and spouse

KEY TAKEAWAYS: PLAYBOOK RECAP

Adopt modern recruiting technologies and techniques that

provide a competitive edge

Create benchmark metrics for sustainable

performance and return on investment

Follow best practices that support transparency and

autonomy

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

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Dane Altman, Senior Vice President, Business Developmentdaltman@JacksonPhysicianSearch.com | 469.909.6672