Protecting Your Investment – The Key to Physician Retention

In today's challenging healthcare environment it is critical to keep the quality physicians you worked so hard to recruit. The key to successful physician retention is to have a well-designed and documented retention process in place and communicated across all levels of the organization before the physician recruitment process begins.

Did you know that physician retention actually begins during the interview? Below are several key factors to address during the initial interview to ensure a quality hire and prevent unwelcome surprises and disgruntled physicians:

Discuss the mutual needs, values and expectations of your organization with the physician candidate to make sure they align.
Have clear and detailed discussions regarding compensation structure and associated performance standards. If possible, prepare a pro forma outlining earning potential based on real data from practicing physicians.
Include the spouse in the interview process and provide a well planned community tour including housing options, shopping, recreational activities and schools.

Once hired, a new physician may not relocate for several months. During this waiting period, uncertainties are common and therefore it is critical to keep in touch with the physician and spouse. Stay connected by:

Assigning someone to work closely with the physician during the state licensing and credentialing process to ensure necessary documents are obtained and deadlines met.
Communicating regularly with the physician and spouse regarding housing, school enrollment, daycare, utility arrangements and other matters of importance to ease the stress of relocation.
Helping the candidate feel connected by sending organization newsletters and inviting them to special functions or events.
Keeping the physician informed of new initiatives both within your organization and the local community.
Identifying a physician mentor to touch base with the physician on a regular basis. This will begin a long term mentoring relationship that will prove critical to your retention program.

Once the physician arrives your challenge is to keep not only the physician but the entire family happy. This entails an ongoing process of relationship building activities:

Institute an orientation program during the first week of employment including meetings with key physicians, administration and other personnel who will interact with the newly recruited physician.
Continue the physician mentor relationship so the new physician does not feel alone and has a person to go to for support and guidance.
Schedule periodic reviews with the physician (recommend 30, 60, 90, 180 and 365-day marks). This allows both management and the physician to discuss whether both parties' expectations are being met.
Involve the new physician in committee/board meetings and encourage him or her to express concerns and suggested improvements to the practice.
Introduce the new physician to the community on both a professional and personal level. Send announcements to local newspaper and community introducing the new physician.
Stay connected to the physician's family by including the spouse in social activities and assigning a staff member to reach out to the family on a regular basis to offer advice on schools, babysitting, youth activities, religious facilities, shopping, and other needs.
Keep the written and verbal commitments made to a physician. Nothing discourages a physician more than to have promises broken.

While good compensation, benefits or location may initially attract a physician, feeling unappreciated and lack of support are the key reasons physicians leave a practice. A well-designed retention plan with open lines of communication will provide the basis for keeping physicians long term. Remember the physician retention process never ends. It is an ongoing process of relationship building.

Home | About Us | Contact Us