| Currently there is a widespread shortage of qualified | | | | On top of this shortage, it has been noted that there |
| physicians to fill the many vacancies that have been | | | | has been a faster turnover in many physician |
| left by individuals who have left their positions to | | | | positions than in past years. Recent studies have |
| retire, for better opportunities, or for a change of life | | | | shown that over 10% of the physician workforce |
| and career. In addition to the vacated positions, the | | | | changes position in a year. |
| natural growth of the field has created an increased | | | | To curb this turnover many institutions have moved |
| need for health care services especially in suburban | | | | to create better job security and better job |
| communities. This shortage has created a dynamic | | | | satisfaction. Eventually this trend of job change will |
| market for job seekers, but has left many institutions | | | | effect the industry as a whole and likely create an |
| in compromising positions. | | | | even more competitive environment for the ever |
| Interestingly, despite the demand to fill these | | | | tightening pool of qualified individuals. |
| positions, particularly senior management positions, | | | | The physician workforce has also been influenced by |
| pay has remained relatively steady since about 2001. | | | | a cultural change of individuals seeking a better quality |
| Some specialties, such as both invasive and non | | | | of life for themselves. Many physicians, new and old, |
| invasive cardiologists, have even experienced a | | | | are wanting to spend more time with their families |
| decrease in pay. Many institutions are struggling with | | | | and friends in recreational activities instead of working |
| implementing incentives to hire new physicians while | | | | the demanding hours that these medical positions |
| still trying to balance a practical budget. A common | | | | often require. This has created a clear decrease in |
| practice among these institutions is to shift their | | | | job attractiveness that institutions have found |
| budgets to include performance-oriented incentives | | | | difficulty improving upon. |
| and substantial hiring bonuses to attract potential | | | | As the need for health care increases, so will the |
| employees. Some institutions are offering target | | | | obligation of hiring institutions to show flexibility in |
| bonuses of up to 28%, the highest wage earners | | | | meeting the demands of qualified candidates. |
| falling into the physician executive categories. | | | | Attracting physicians through programs that support |
| Another move that many hospitals and health | | | | and balance their jobs and personal lives will become |
| systems have made is the implementation of chief | | | | vital in reducing turnover rates and in attracting those |
| medical officer positions since the shortage has | | | | looking for new opportunities. In the end, both the |
| allowed them to recognize a need for a senior | | | | physician workforce and the medical institutions |
| executive position that can build important alliances | | | | seeking to employ them must understand each |
| with physicians. Once a position that was a bonus to | | | | other's viewpoint and find a balance that meets the |
| have in a medical institution this chief medical officer | | | | needs of the other as well as the needs of those |
| position has grown into a necessity, especially in the | | | | serviced. |
| face of such manpower shortages. | | | | |