In This Issue:
- MGMA & Jackson Physician Search: Physician Burnout & Turnover Rates Remain High
- Barton Associates Announces 2022 “Locum Hero” Award Winner
- Jackson + Coker Locum Tenens Unveils New Branding
- Alumni Staffing Names Banking Executive Karl Lau as COO
- All Star Healthcare Solutions Welcomes CIO, Announces Divisional VP Promotion
- 5 Locum Tenens Firms Make SIA’s “2022 Fastest-Growing US Staffing Firms” List
- Medscape: 52% of Female Physicians Don’t Feel Fairly Compensated
- Optimize your Physician Contract Game Plan: How You Can Reduce Risk and Improve ROI
- Socially Speaking: Social Posts of Note from Cross Country, Hayes, Interim & More
- Most In-Demand Physician Specialties and their Annual Salaries
MGMA and Jackson Physician Search: Physician Burnout and Turnover Rates Remain High
(Edited from Jackson Physician Search news release, 10/10/2022)
New research from the Medical Group Management Association (MGMA) and Jackson Physician Search confirms that physician burnout and turnover rates remain dangerously high due to the rising toll of stress during the COVID-19 pandemic and resulting staffing shortages.
The survey sought these industry leaders’ unique views on physician issues following the pandemic and the growing healthcare staffing crisis that resulted. Survey sponsors hoped to discern how medical groups could improve physician recruitment, engagement, and retention through identifying root causes of burnout and possible steps to mitigate it.
Key Findings
After qualitative interviews with administrators and physicians, the report—a follow-up to a 2021 white paper—revealed several key themes
- Nearly two-thirds of physicians (65%) report they are experiencing burnout in 2022, up four percentage points from the 2021 study. Of those experiencing burnout, more than one in three physicians (35%) said their levels of burnout significantly increased in 2022.
- Administrators acknowledge worsening levels of burnout in physicians, but physicians often don’t perceive enough is being done to mitigate that burnout or engage them.
- Administrators vary their approaches to retention and engagement, often with informal efforts rather than structured, strategic programs.
- Perhaps most telling is that 51% of physicians have considered leaving their current employer for another, up from 46% last year.
- In addition to these newly released survey findings, recent MGMA polling found that four in 10 medical practices (40%) had a physician resign or retire early in the past year due to burnout.
“While burnout is certainly not new, it’s disheartening that one in three physicians [of the 65% of respondents experiencing burnout] is reporting a significant increase in their level of burnout in 2022,” Jackson Physician Search President Tony Stajduhar said. “Administrators and physicians recognize that solving the burnout crisis is complicated, as many of its drivers are rooted in the business of healthcare.
“However, burnout mitigation should include creative recruitment and staffing strategies that bring additional talent into the organization to help defuse the impact of stress and administrative overload, and that allow for the pursuit of physician work-life balance.”
How to Confront Burnout and Turnover
The new “Back from Burnout…” report highlights that most medical groups are discussing burnout and turnover but have yet to implement specific strategies to address these mission-critical issues.
In fact, MGMA polling during the pandemic found that nearly 9 in 10 healthcare leaders admitted not having a formal plan to reduce physician burnout. Only 19% of administrators reported having a formal, written retention plan.
With one in two physicians seriously considering leaving their current employer for a new one and 36% considering early retirement, healthcare leaders must take heed.
The report details that mitigating burnout and rising rates of physician turnover may best be achieved through:
- Streamlining clinical workflows
- Managing workload equity amid ongoing staffing shortages
- Improving two-way communication between physicians and administrators
- Increasing psychological safety in the workplace to encourage quality, honest feedback.
“Simply talking about burnout in healthcare will not stop physicians from leaving the profession in the coming years,” said Halee Fischer-Wright, MD, MMM, FAAP, FACMPE, president and chief executive officer at MGMA. “Instead, we need to focus on empathy and organizational efforts to revive these professional relationships that make high-quality care delivery a sustainable reality for everyone involved.”
As medical groups continue to feel the strain of rising costs amid sustained inflation and an uncertain economic future, and as care needs intensify, the efforts to recruit and retain top physician talent will remain of the utmost importance to the bottom line of healthcare businesses.
To download the new report, visit JacksonPhysicianSearch.com.
All News Is Locums
Barton Associates Announces 2022 “Locum Hero” Award Winner
(Edited from Business Wire news release, 10/13/2022)
Barton Associates Inc. (“Barton”) recently announced the winner of its 4th annual “Locum Hero Award.” Barton named locum tenens emergency medicine physician Dr. Leo Alonso, DO, as its 2022 Locum Hero. The award celebrates exceptional locum tenens healthcare professionals who make a difference in their communities.
The honor results from a robust nomination process and includes a $2,500 cash award and a matching donation to a charity of the winner’s choice. Dr. Alonso chose Project SEMILLA, an organization dedicated to improving emergency healthcare capacity in Latin America, to receive this year’s donation.
“It is an honor to present our annual Locum Hero Award to an individual whose dedication to treating patients and training doctors epitomizes the selfless, healing spirit of the locum tenens healthcare providers we’re fortunate to work with,” said Rob Indresano, chief executive officer for Barton Associates and Barton Healthcare Staffing.
“The way Dr. Alonso embraces locum tenens work as a means to dedicate more time to helping others is a reminder that everyone can be a hero, and we hope this recognition will encourage others to follow in his life-changing footsteps.”
A locum tenens emergency medicine physician since 2015, Dr. Alonso began his philanthropic journey more than 20 years ago when he joined the Peace Corps to support rural development work and communities overseas through education.
Locum Tenens Accommodates Volunteerism
Having joined the Peace Corps right after college, Dr. Alonso began his international service by teaching gardening, English, and other subjects in small rural communities overseas.
Since then his work has advanced by leaps and bounds, especially after he earned his medical degree. Over the years he has volunteered on various medical missions in countries such as Haiti, India, Guatemala, Cambodia, and Ecuador.
He currently works with the Ministry of Education in Honduras, where he hopes to open an emergency medicine residency through UCLA’s Project SEMILLA.
However, his volunteering doesn’t stop there.
Back home, Dr. Alonso works to improve his own community in Jacksonville, Fla, where every month for the past 18 years he has volunteered at a free clinic called Volunteers of Medicine, providing free primary and specialty care to those without private health insurance.
Between his overseas missions and domestic volunteering, Dr. Alonso works on a locum tenens basis, which allows him to explore new places while earning income, and to enjoy flexible scheduling that accommodates his volunteer work.
“We’re all on this earth for a short time, and you hope that you can leave something behind of lasting value,” Dr. Alonso said in a recent interview. “There’s a saying in the Peace Corps that you teach a man how to fish and he’ll fish forever, but if you just give him a fishing pole, that only goes so far.
“The key is to teach people and to have the legacy carry on for generations, and with our specialty in emergency medicine, I think it’s very impactful. What we do really does save lives and mitigate suffering…and I think just knowing that what you do continues to help others, while it may be very altruistic, is still very rewarding. That’s what keeps me going.”
Jackson + Coker Locum Tenens Unveils New Branding
(Edited from Business Wire news release, 9/28/2022)
Jackson + Coker Locum Tenens revealed the company’s new branding on September 22, 2022.
Building on its rich 44-year history, it reflects a modern, refreshed approach aligned to the company’s mission, purpose, and unique value proposition in fulfilling the needs of the hospitals, healthcare facilities, physicians, and advanced practitioners it serves across the US. The company’s new branding is backed by market research and energized by the idea of ‘bringing more purpose and positivity to the locum tenens experience.’
“Over the decades, we have grown because our associates believe in our purpose of connecting healthcare organizations of all sizes with physicians and advanced practitioners to deliver purposeful relationships and positive outcomes for all,” Jackson + Coker Locum Tenens President Tim Fischer said. “The evolution of our brand enables us to articulate how we serve in a new way, while continuing to advance our mission of connecting providers and communities to transform lives.”
The company’s new branding, developed in partnership with Adrenaline Agency of Atlanta, Ga., is distinguished through a new look-and-feel, messaging, and tone.
“The brand mark, a visual element that is associated with Jackson + Coker Locum Tenens’ new logo, is two arrows connecting. There is strength in that connection. It is what drives us,” commented Allison Kirk, division vice president of marketing, Jackson + Coker Locum Tenens. “It’s the point where relationships are born and grown.”
Symbolizing the additive power of those relationships, the mark also represents a unified focus on the future. It enables Jackson + Coker Locum Tenens, or J+C, to highlight its unique ability to cultivate purposeful relationships and positive outcomes within the dynamic and highly competitive locum tenens staffing industry.
Though J+C has evolved since its inception in 1978, the company’s purpose, mission, and values of “Others First,” “Wisdom” and “Growth” remain the same. This rebrand honors the company’s long history, as well as its founder.
“Our founder, Rick Jackson, has made a tremendous impact on the world through the industry we serve and his personal mission to infuse hope and opportunity into the lives of underserved children and young people,” Fischer added. “The company’s rebranding honors the legacy of what he started.”
Alumni Staffing Names Banking Executive Karl Lau Its Chief Operating Officer
(Edited from BusinessWire news release, 10/11/2022)
Alumni Staffing, LLC, has appointed Karl Lau its chief operating officer. Scott Hollingshead, who has served as Alumni’s COO since 2016, is transitioning into a new role as chief financial officer (CFO).
An accomplished healthcare industry and finance executive, Lau brings extensive experience in healthcare staffing technology and vendor management systems to Alumni Staffing. Before joining Alumni, Lau led strategic partnerships for AMN Healthcare’s vendor management system and served as COO of LocumsMart, where he assisted in growing company revenue ninefold in four years.
Lau began his career as an investment banker at Morgan Stanley in New York and worked at Credit Suisse, UBS, and Bear Stearns where he advised clients on capital markets and M&A transactions.
“While our growth to date has focused on direct business, Karl allows us to enter the VMS/MSP (vendor management system/managed service provider) locum market strategically, while advancing our technological infrastructure,” Alumni Staffing CEO John Pannucci said. “With his healthcare technology experience and banking background, Karl is the perfect complement to our executive team.
“Likewise, transitioning Scott Hollingshead into the CFO role solidifies our executive foundation,” Panucci continued. “We trust that having an 18-year staffing veteran lead Alumni’s cash-flow, forecasting and financial success allows us to trust that our growth will be both continuous and profitable.”
All Star Healthcare Solutions Welcomes CIO, Announces Divisional VP Promotion
(Edited from Yahoo News, 10/6/2022)
All Star Healthcare Solutions® welcomes Mike Peterson as chief information officer (CIO) and announces the promotion of Jonathan Simon to divisional vice president, Information Technology.
Peterson brings more than 30 years of experience in information technology (IT), much of which was gained in the healthcare staffing industry. As a member of the All Star Executive Leadership team, he will direct the company’s expanding technology infrastructure.
“We’re making a significant, long-term investment in our systems, resources, business partners, and sales teams to support our company’s continued growth,” All Star CEO Keith Shattuck said. “Mike’s experience with change management, along with his proven leadership skills in overseeing people, processes, and technologies; experience with lean processes to increase efficiencies; and keen understanding of the healthcare staffing industry will be integral in growing our IT capabilities.”
All Star Healthcare Solutions® also announces the promotion of Jonathan Simon to divisional vice president, information technology. Since joining the company in 2016, Simon has overseen the integration of various IT programs and functions. He will continue to guide the company’s daily IT operational activities, maximizing efficiency and building for long-term success, as well as managing the department.
“Jonathan has been instrumental in growing our technology and fortifying the company’s cybersecurity practices,” All Star President Ken Bernstein added. “As we prepare to increase our investment in technology to more efficiently support our facilities and providers–as well as empower our people with advanced tools–his knowledge and leadership will be essential to reaching the department’s goals.”
5 Locum Tenens Firms Make SIA’s “2022 Fastest-Growing US Staffing Firms” List
(Edited from SIA news release, 9/20/2022)
Staffing Industry Analysts (SIA) recently released its 2022 Fastest-Growing US Staffing Firms list. The list ranks firms by compound annual growth rate (CAGR) for US staffing revenue over the past five years, excluding acquisitions.
Five locum tenens staffing agencies made this year’s list, including Floyd Lee Locums, which ranked #8 with 117.2% CAGR between 2017 and 2021. The other locums firms making the 2022 list were:
“The 2022 Fastest-Growing Staffing Firms list displays a masterclass in perseverance. Emerging from the pandemic with organic growth is a true achievement and testament to the staffing industry’s strength, even in the most turbulent of times,” SIA President Barry Asin said. “Our list of staffing firms more than doubled this year and SIA is honored to present these resilient staffing firms to the world. A huge congratulations to our 2022 honorees!”
To be considered for the Fastest-Growing Staffing Firms list, companies must have met a minimum revenue threshold of $1 million in 2017 and have had a CAGR of at least 15% between 2017 and 2021. Qualifying data for the ranking is collected and evaluated in SIA’s annual staffing firm survey.
The median 2022 CAGR for all firms listed is 30.3%. IT was the most prevalent segment on the list with 45 firms, followed by the travel nursing segment with 35 firms, which experienced significant growth driven by the COVID-19 pandemic. Additionally, 29 listed firms exceeded $300 million in revenue, and six had revenue of more than $1 billion.
“Staffing firms really stepped up during the pandemic, delivering extraordinary value when it was needed the most,” said Dexter Braff, president of The Braff Group, the list’s sponsor. “What’s more, they are ideally positioned to meet the needs of a workforce that increasingly values greater control and flexibility regarding when and where they will work, and the number of hours they choose to devote.”
The September/October 2022 issue of Staffing Industry Review magazine highlights interviews with leaders from the top 10 fastest-growing firms. Honorees will be recognized during SIA’s annual Healthcare Staffing Summit taking place in Houston this November.
SIA’s Corporate and CWS Council Members may view the full 2022 List of Fastest-Growing Staffing Firms US report online.
The Healthcare Staffing Story
Medscape: 52% of Female Physicians Don’t Feel Fairly Compensated
(Edited from Becker’s Hospital Review article by Cailey Gleeson, 10/14/2022)
Fifty-two percent of female physicians don’t feel fairly compensated compared to their male counterparts, Medscape’s “Female Physician Compensation Report 2022” found.
The report, published Oct. 14, was based on data collected for Medscape’s wider “Physician Compensation Report” between Oct. 15, 2021, and Jan. 19, 2022.
Key Findings:
- In 2012, male primary care physicians (PCPs) earned 23% more than their female counterparts ($174,000 vs. $141,000). This year’s survey results indicate that men PCPs earn 25% more than female PCPs do ($285,000 vs. $228,000)
- Among specialists, men outearned women by 31% ($402,000 vs. $307,000). The differential has declined from 37% in 2017.
- Compensation rose for female primary care physicians by 8.1% and for specialists by 8.5%.
- Female physicians at office-based, single-specialty group practices earned the most, at $304,000 annually. Outpatient clinic female physicians earned the least, at $241,000 annually.
- Only 6% of female physicians have a net worth over $1 million compared to 14% of male physicians.
Tools to Try/News to Use
Optimize your Physician Contract Game Plan: How You Can Reduce Risk and Improve ROI
(Edited from Becker’s ASC Review, 10/17/2022)
Thursday, October 27, 2022 | 1:00 PM – 2:00 PM CT
Physicians get paid for many types of services, but it all starts with their contracts — the financial arrangements that are sometimes set aside and rarely looked at again until there’s a payment problem. With physician burnout and operational costs on the rise, hospitals need to plan ahead and fully understand two critical factors of their physician alignment: how their medical teams are paid and what they’re paid for.
Without this critical information, hospitals are in danger of not only compliance and financial risks but also unhappy medical teams. Join this webinar to learn how to create battle-tested, physician contract strategies that are a win-win for everyone.
You will learn:
- Tactical steps to enhance physician payment strategies that reduce compliance risk and promote a meaningful bond between hospital and physician
- How to gain big-picture, financial visibility into physician arrangements with data that can improve a hospital’s competitive edge
- Best practices from a hospital CMO who used automation to optimize their entire approach to physician payments
Presenters:
Eugene McMahon, MD, MBA, FCAP
Senior Vice President and Chief Medical Officer Capital Health
Carter Cowardin, MHA
National Account Manager Ludi, Inc.
Socially Speaking
From LinkedIn
From Twitter
How ‘Bout This?
Most In-Demand Physician Specialties and their Annual Salaries
(Edited from Becker’s ASC Review article by Patsy Newitt, 10/14/2022)
Merritt Hawkins and AMN Healthcare laid out the most requested physician searches by specialty for 2022 in its “Review of Physician and Advanced Practitioner Recruiting Incentives.”
The report is based on 2,695 physician and advanced practitioner search engagements conducted from April 1, 2021, to March 31, 2022.
Here are the most requested physician searches by specialty, followed by their average annual salary, pulled from Medscape’s “Physician Compensation Report 2022.”
