What do they want?
Physicians are looking for flexibilityand quality of practice. In the 2022 survey conducted by CHG Healthcare on what is driving Physicians to seek new employment alternatives there were clear results which are provided in the adjacent column. Other areas of dissatisfaction noted in the LocumsTenen.com survey included hours worked, understaffed, feeling disrespected, not feeling valued, too much administrative work, burnout, EMR demands, and no or low autonomy.
Physicians factors for change:
- 35.2% Better work/life balance
- 12.6% Increased compensation
- 11.3% More flexibility
- 8.8% Desirable location
- 7.5% Better workplace culture
- 4.2% More support from Administration
Source: 2022 CHG Healthcare MD Survey
What can you do?
Hospital Executives must balance many demands within their organization beyond just those of their physicians, but lets face it, operations would be challenged without quality physicians and their teams to care for your community. How can you influence your physicians experiences within your organization? Here are the most frequent physician requests we hear:
- Highly effective and efficient operations that improve their workflows
- Integrated technology that improves workflows and eliminates barriers to providing high quality care for the entire team
- Adequate resources and infrastructure
- Transparent communication and feedback
- Collaboration and team work
- Physician leadership within network decision making
Most hospital executives believe they are meeting many of the needs of their physician groups. Are you confident they would leave your organization a tip or a 5 star review?
Not only does your organization suffer the cost to recruit a new provider, typically around $250K in direct costs, there are two other staggering statistics to be mindful of. Lost revenue during vacancy estimated between $500K and $1.6 million depending on specialty and the new practice ramp up time when revenue is typically less that optimal requiring 18-24 months of greater subsidies.
FACT: Physicians trust physicians when making transition decisions. What are your physicians telling their colleagues "off the record" about your work environment?
Is your organization known for its great culture, patient, provider, and staff experiences?
Have you explored what your physicians are saying?
What can we do for you?
Focused Solutions
Targeted process improvement projects to meet your practice goals. V2V full spectrum of services available. You define your project.
Return on Investment
Clients typically experience a simple multiplier on their original investment for focused projects.
Medical Practice Insights / Operational Assessments
Evaluate the organizations overall medical practice infrastructure, operations, technology, and business practices to identify opportunities for enhancement.
Return on Investment
Clients experience this multiplier as a minimum on their original investment. Often greater returns are achieved by clients' progressive changes over a longer period of internal implementation
Medical Practice Optimization / Assessments + Implementation
Provide project implementation on the key elements of your assessment results identified as priority needs. We work alongside your teams to ensure rapid resolution on key opportunities.
Return on Investment
Clients experience this multiplier range on their original investment within a 6 -12 month timeframe. Often greater returns are achieved with progressive changes over a longer period with supported implementation.
| V2V Management Solutions brings high reliability and confidence to the hospital affiliated medical practice environment. There is a direct measurable benefit to quality, value, brand strength, organizational credibility, operational stability, and financial profitability that results from your investment in your medical practice groups. |
Disclaimer: V2V Management Solutions is a healthcare consulting firm. We are not licensed attorneys or certified public accountants. This guide is not intended to replace legal or financial advice from your trusted resources. Before acting on any information provided, check with the appropriate legal or financial team. Healthcare is a constantly evolving landscape; be sure to research for the most current information. The provided content consists of key takeaways on information published in the above referenced articles, facts sheets, and our personal/professional experiences in healthcare management.
