Down Economy Doesn't Stall Physician Recruitment

Shortage of physicians

On top of bruised hospital finances is the need for more physicians. Most CEOs believe there is a serious or moderate shortage of doctors that has especially worsened in the last six months.

"Shortages have always been there, and they always will be there," Mosley said.

Currently, there is a physician vacancy rate of 11%, reported CEOs.

With physician spots to fill and fewer patient admissions and procedures in hospital revenue, administrators are looking within to bounce back.

Regardless of the current economic state, "We are getting older, heavier, and living longer. It's a fact of life," he said.

And with older and sicker persons are patients in need of medicine.

"CEOs are tasked with taking care of patients," Mosley explained. Oftentimes, the physician vacancies are based on the community needs. For example, older populations might have a greater demand for cardiologists, and younger populations might demand family practitioners.

According to the survey, nearly all CEOs (99%) see physicians as important revenue drivers for hospitals. Out of all the healthcare professionals, most CEOs named physicians are the most important rainmakers, with the ability to draw in inpatient revenue from admissions and procedures, according to the survey.

Karen M. Cheung is associate editor at HCPro, Inc., contributing writer for HealthLeaders Media, and blogger for HospitalistLeadership.com. She can be contacted at kcheung@hcpro.com.