6 Ways to Reduce Physician Turnover
"That was unacceptable. We did a cost of turnover analysis and we were losing a lot of money," he says. The Association of American Medical Colleges estimates organizations lose $115,000 when a general practitioner leaves and $200,000 for a specialist. However, Larson adds, "If you calculate the patients that leave when a physician does and other hard and soft costs, it can be as much as a $1.2 million loss to the organization for one provider."
For Baystate, "the future success of the organization meant we needed to make a paradigm shift in how we approached retention," he says.
First, Baystate pulled together physician leaders and practice managers at a retreat. The 20 attendees became the organization's retention task force. The group created six processes and guidelines for recruiting and retaining physicians. A major emphasis of these strategies was to make providers feel valued and recognized.
- Hire for cultural fit—Behavioral-event questions, which ask interviewees how they dealt with difficult situations, were added to the interview process to gauge how a candidate's personality and attitudes would fit within the department and organization.
- Optimize on-boarding practices—The task force developed a pre-hire to post-hire checklist to ensure that new employees were guided through the first few months at the organization. Check-in and introduction meetings were made mandatory for managers.
- Establish a buddy program—Rather than use a senior member of the team as a mentor, the task force decided that a buddy fit the culture of the organization better. This could be any member of the physician staff.
- $6.4B Henry Ford, Beaumont Merger Failed on Cultural Hurdles
- How Chargemaster Data May Affect Hospital Revenue
- Primary Care Docs Average More Hospital Revenue Than Specialists
- House Lawmakers Grill CMS Over Health Exchange Navigators
- Fortunately, Angelina Jolie Isn't On Medicare
- ED Physicians Key to Half of Hospital Admissions
- Don't Let Nurses Sink Your Bottom Line
- Insurer's App Aims to Lower Healthcare Costs, Securely
- 69% of Employers Plan to Offer Healthcare Coverage After 2014
- Uncompensated Care Faces a Double Hit in Some States