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  • Title: Physician retention plans help reduce costs and optimize revenues.
    Author: Scott K.
    Journal: Healthc Financ Manage; 1998 Jan; 52(1):75-7. PubMed ID: 10175112.
    Abstract:
    Recruiting primary care physicians can cost a large practice millions of dollars in recruitment expenses and lost revenue. And competition among practices to attract physicians can cause a position to remain unfilled for a year or longer. Thus, the ability to retain physicians is critical to the financial well-being of a practice. Successful implementation of a physician retention plan can help reduce turnover, improve morale among the physicians, and foster a perception of a practice as a health services provider of choice. Penn State Geisinger Health System, Danville, Pennsylvania, developed a physician retention plan for its multispecialty group practice of nearly 1,000 physicians to reduce its costs associated with physician recruitment. The plan is organized into four phases of physician employment: recruitment, preemployment, employment, and postemployment.
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