Cash may not rule everything around physicians, as nonmonetary rewards such as vacations and professional development courses could provide them a level of appreciation and motivation, according to a report from Family Practice News.
John Nelson, MD, a principal at Nelson Flore Hospital Medicine Consultants and a past president of the Society of Hospital Medicine, said that while appropriate cash compensation is important for hospitalists and other physicians, it is not the be-all, end-all.
"Cash compensation is generally seen as an entitlement, so in most cases it doesn't wind up being much of a motivator," he said in the report. "It might help encourage someone to take a position in your practice, but it probably won't do a lot to change their performance."
Nonmonetary incentives that could boost physician morale and performance include paying for a professional development course, offering gifts such as vacations or televisions, awarding promotions or giving some type of recognition such as a trophy or thank-you note.
John Nelson, MD, a principal at Nelson Flore Hospital Medicine Consultants and a past president of the Society of Hospital Medicine, said that while appropriate cash compensation is important for hospitalists and other physicians, it is not the be-all, end-all.
"Cash compensation is generally seen as an entitlement, so in most cases it doesn't wind up being much of a motivator," he said in the report. "It might help encourage someone to take a position in your practice, but it probably won't do a lot to change their performance."
Nonmonetary incentives that could boost physician morale and performance include paying for a professional development course, offering gifts such as vacations or televisions, awarding promotions or giving some type of recognition such as a trophy or thank-you note.
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