Given the survey trends, what should hospitals keep in mind when structuring compensation packages?
TS: Obviously, there are different compensation models operative today–straight salary, net income guarantee and gross income guarantee, among others. In weighing job offers, doctors are sensitive to what it will cost them to establish their practice and earn a comfortable living that reflects their worth to the practice. Obviously, they want to “stack the odds in their favor” when negotiating the terms of an offer. If a facility really wants to hire a candidate, they need to clearly communicate that verbally and in the offer they make, which can include addressing partnership potential sooner than later, for instance. PM: One trend we’re seeing is for hospitals to offer “monthly stipends” for young doctors to offset the cost of living while they complete their training and prepare to join a practice. In this manner, the employer demonstrates a willingness to invest in the doctor’s career before he or she actually comes on board This personal investment pays off in terms of successful
