Physician recruitment is becoming increasingly competitive, according to a recent report from physician search company, The Medicus Firm. The report reveals some employers are offering physicians six-figure signing bonuses to stand out from the standard five-figure bonuses. Signing bonuses are becoming increasingly common among non-physician providers too.
Here are 11 key statistics on healthcare provider placement, based on data from placements across 200 hospitals and health systems around the country.
- Osteopathic physician placements doubled between 2011 and 2014, rising from 5.4 percent to 9.9 percent. Allopathic physicians accounted for 90.1 percent of placements.
- Approximately 74 percent of physicians were offered signing bonuses in 2014.
- The average physician signing bonus was $20,839 in 2014.
- The highest signing bonus offered in 2014 was $200,000.
- Non-physician advanced practice provider placements increased 5 points between 2012 and 2014, from 1.32 percent to 6.34 percent respectively.
- Half of non-physician providers were offered signing bonuses, at an average of $7,500 in 2014, compared to just 11 percent at an average of $3,000 in 2013.
- Family practice, hospitalist and internal medicine specialties were the top three placed in 2014.
- 68.78 percent of American medical graduates are placed.
- 33.66 percent of placements are in metropolitan areas.
- 78.54 percent of placements require relocation.
- The average relocation package in 2014 was $9,786.
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