THREE WAYS TO EASE THE PRESSURE ON HEALTH SYSTEM REVENUE CYCLES

Healthcare organizations can differentiate by understanding and addressing physician expectations across compensation, lifestyle, engagement, and support resources.

By Laura Medford-Davis
By Rupal Malani

Leads our work with healthcare providers in North America; serves national, regional, and academic health systems across a broad range of strategic, operational, and organizational topics

By Stephanie Sherline
By Chelsea Snipes

September 10, 2024 Healthcare organizations are still reeling from the aftershocks of a pandemic that exacerbated existing margin and physician burnout challenges. Now, in light of an increasingly difficult physician labor market, compounded by ever-growing patient demand,1 organizations face a vicious cycle of physician burnout and turnover that makes achieving their financial and strategic objectives tougher.

To break this cycle, organizations have been looking to evolve their strategies to attract and retain physicians by focusing on the factors that influence their decisions to join and stay. Given that physician burnout has been well studied and documented, we focused our seventh US physician survey on understanding the root causes of turnover and the tactical interventions to attract and retain top talent in a competitive labor market. Accordingly, we recommend four areas organizations can prioritize: compensation and incentive structures, lifestyle needs and well-being, involvement in decision making, and staffing and support systems (exhibit). Organizations that use a portfolio of strategies that address the mindsets and needs of physicians, as laid out in this article, could start to boost physician attraction and retention and address their workforce supply-and-demand mismatch.

Healthcare organizations can differentiate by understanding and addressing physician expectations across compensation, lifestyle, engagement, and support resources.

By Laura Medford-Davis
By Rupal Malani

Leads our work with healthcare providers in North America; serves national, regional, and academic health systems across a broad range of strategic, operational, and organizational topics

By Stephanie Sherline
By Chelsea Snipes

September 10, 2024Healthcare organizations are still reeling from the aftershocks of a pandemic that exacerbated existing margin and physician burnout challenges. Now, in light of an increasingly difficult physician labor market, compounded by ever-growing patient demand,1 organizations face a vicious cycle of physician burnout and turnover that makes achieving their financial and strategic objectives tougher.