MGMA: 56% of First-Year Physicians Get Signing Bonuses
In addition to first-year guaranteed compensation, signing bonuses, loan forgiveness, and amount of paid relocation expenses helped shape physician recruitment. Fifty-six percent of physicians received signing bonuses as part of their employment offers. Twelve percent of physicians received loan forgiveness packages as part of their employment offers, most of which were $50,000 or less.
Employers were more likely to offer loan forgiveness packages to primary care physicians than specialty-care physicians. Fifty-six percent of physicians accepted paid relocation packages, the survey found.
The survey includes data on 4,295 providers categorized by specialty, as well as starting salary information on 1,986 physicians directly out of residency or fellowship, information on paid vacation, paid CME, signing bonuses, loan forgiveness, and relocation expenses, MGMA said.
John Commins is a senior editor with HealthLeaders Media.
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