Worried about debt and seeking work-life balance, residents are largely seeking employment-based opportunities, and they seem to be making career decisions earlier than ever.
Moreover, in a trend that may have implications for retention, these young doctors demonstrate a bit of naïveté regarding the business side of medicine.
However, they are not naïve about their worth and, for the most part, have a healthy concept of what compensation to expect.
These are some of the findings from the Merritt Hawkins & Associates (MHA) 2008 Survey of Final Year Medical Residents. Of the 290 respondents, 36% are in primary care and the rest are surgical and diagnostic specialists; 20 specialties are represented.
Ninety-four percent of final-year medical residents surveyed said they had been contacted by recruiters at least 11 times during the course of their training. Eighty percent said they had been contacted by recruiters 26 times or more, and 40% said they had been contacted at least 51 times.
The lesson for third-party recruiters is it's less about landing the sale and more about serving as a resource. Increasingly, recruiters need to be career counselors. Low-balling residents doesn't work, but providing residents with a road map to help them navigate those early years could pay dividends.
This article was adapted from one that originally ran in the November issue of Physician Compensation & Recruitment, a HealthLeaders Media publication.
For the third year in a row, Cleveland Clinic doctors and consultants have picked the medical innovations they think will be most influential next year. The Top 10 Medical Innovations for 2009 were announced during the Clinic's sixth annual Medical Innovation Summit. Number one for 2009 was the use of circulating tumor cell technology, which measures tumor cells that circulate in the blood. Results can help doctors understand how a cancer is progressing and how to adjust treatments in patients who have repeat cancer.
Middletown, OH-based Atrium Medical Center has eliminated nearly 40 jobs as part of a reorganization and "belt-tightening" to deal with the national economy. The jobs, which are not in any one department, have been cut during the past few months and represent less than 2% of total jobs at the hospital, spokeswoman Wendy Parks said.
The University of Pittsburgh Medical Center plans to team with GE Healthcare over the next decade to establish 25 cancer centers overseas in Turkey, Greece, Germany, and South Korea. This will add to the two cancer centers UPMC already operates in Ireland, and bring a higher level of cancer treatment to currently underserved regions.
California hospitals are not immune to the credit crisis, according to financial advisors who note that the more a hospital pays to its bond investors, the less money it has left for patient care, new equipment, and other programs. The market for tax-exempt hospital bonds has seen significant changes in recent months, as the credit crisis has made it more expensive for health facilities to borrow money.
U.S. Senate Finance Committee Chairman Sen. Max Baucus has unveiled a plan that would guarantee health insurance for all Americans. This would be done by sales of private insurance, expansion of Medicaid and Medicare, and requiring most employers to provide health benefits. The plan would eventually require everyone to have health insurance coverage.
C. diff infections are ailing hospitals as much as 20 times more than previously believed, according to a new survey of U.S. hospitals. The survey reports that more than 7,000 patients are regularly battling such infections.
Researchers say heart failure accounts for about 37% of Medicare spending, with more doctor visits and medications prescribed. Treatment for these patients also contributes to nearly 50% of all hospital inpatient costs.
Two lawmakers filed a bill that would phase out the two-year waiting period for the government to review whether individual disabled people qualify for Medicare. The legislation sponsored by Rep. Gene Green and Sen. Jeff Bingaman would eliminate the waiting period gradually over 10 years. The bill would also allow those with life-threatening illnesses to get coverage immediately.
Healthcare Realty Trust Inc. of Nashville will soon purchase 15 hospital building in the Charlotte, N.C. region at a cost of $162 million. The buildings are currently owned by Carolinas HealthCare System.
