Aug 24, 2023

Physician happiness factors, compensation influencers, and women in the workforce

ARTICLE TOPICS

 

Welcome to our August 2023 issue of ProCARE Perspectives, where we highlight important, relevant healthcare news, compensation trends, and provider integration topics. We’re here to help you keep up with it all!

Jack

Prioritize time with loved ones

Unsurprisingly, physician burnout continues to rise while happiness levels decline. New research shows that spending time with loved ones, making time for hobbies and incorporating exercise are top of the list to help ensure physician happiness. Organizations should look for ways to prioritize these behaviors, especially as increasing evidence shows that physician well-being is linked to patient outcomes, patient and physician satisfaction and workforce retention.

Takeaway: How can your organization prioritize activities that encourage physician happiness?

Physician pay influenced by age, specialty, location, and government subsidies

New research reveals deeper insights into the impact of government subsidies on physician wages, as well as the impact of government insurance policies including coverage and payment rate changes on earnings, treatments, retirement and specialty choice.

Takeaway: How do your compensation packages influence your ability to acquire top talent? How are you determining FMV compensation?

America’s best employers for women focus on well-being & pay

35 hospitals and health systems made it to the list of 400 of America’s Best Employers for Women. Organizations like UW Medicine (No. 14) boast women in leadership roles across the organization, while others are ranked for their focus on work-life balance, flexibility, help for caregivers and pay equity.

Takeaway: How is your organization supporting career advancement, pay equity and environments that serve the needs of women?

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