How A Physician Retention Program Saves You Money


In the long run, a physician retention program saves you money!

  • Cost of recruiting a new unknown physician more than outweighs whatever it takes to keep a good physician happy and retained.
  • It is extremely hard to find and recruit quality physicians.
  • Happy physicians help you recruit other happy physicians.
  • It is estimated $50,000–$75,000 is spent per physician just on recruitment. Then there is an additional $200,000–$300,000 spent to train, credential, market, and onboard the physician. Total cost per new recruit =  $250,000–$350,000.
  • By setting aside money for a retention program (or approximately $300 per physician) one program saw their turnover rate drop to just 4% from almost 12% and hold steady for several years.
  • When physicians are engaged, they develop loyalty and a sense of ownership that contributes to retention.
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