Leadership | 07.20.20
Report: COVID-19 Reducing Physician Compensation, Job Options
AMN Healthcare (07/14/20)
The pandemic has significantly altered the job market for physicians, leading to the temporary reduction of both starting salaries and practice options for doctors, according to an annual report chronicling physician recruiting trends. Prepared by the Merritt Hawkins physician search firm, the 2020 Review of Physician and Advanced Practitioner Recruiting Incentives tracked a sample of 3,251 physician and advanced practitioner recruiting engagements from April 1, 2019, to March 31. Hospitals and health systems lost approximately $200 billion in the first three months of this year. Meanwhile, physician practice revenue has declined by an average of 55%, as patients have been either unable or unwilling to seek medical treatment. Consequently, fewer hospitals and physician practices are seeking doctors as they struggle with lower revenues and focus on treating COVID-19 patients.
Read the full story from AMN Healthcare.