Physician recruiting has become more competitive as market disruptors have entered the field, with more than half of residents now receiving more than 100 job offers in their final year, according to AMN Healthcare's "Review of Physician and Advanced Practitioner Recruiting Incentives," published Aug. 5
The report is based on a representative sample of 2,138 search engagements AMN Healthcare conducted from April 1, 2023 to March 31, 2024. The data includes starting salary and other incentives offered to physicians and advanced practice professionals nationwide.
Here are three takeaways:
1. Physician recruitment competition is becoming more fierce as non-hospital organizations enter the recruitment arena, including CVS/Aetna, Walgreens, urgent care centers, telehealth programs, insurance programs and private equity-owned medical groups.
2. In a 2023 AMN Healthcare’s Physician Solutions survey, 56% of residents said they had been contacted 100 or more times by recruiters with job offers — the highest percentage since the survey began in 1991.
3. The physician workforce has reconsidered where, when and how they work. Burnout has been the driving force behind high turnover rates and struggling recruitment efforts. In 2021, when the trend first emerged, 48% of all physicians searchers were to replace departing physicians. If employers want to beat the trend, they must be responsive with flexible and competitive offers, as well as renew focus on retention.
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