CULTURE CONSULTING & TRAINING
Physician turnover has accelerated alarmingly in recent years, costing hospital systems and group practices millions of dollars in recruitment expenses and lost revenue.
The average cost to replace just one physician, in fact, is $1.2 million. Average annual turnover is 6.8 percent — with turnover rates particularly high for physicians in the second to third year, averaging between 12 and 21 percent, depending on practice size.
Two commonly cited reasons for high turnover rates in healthcare are:
- Poor Cultural Fit
- Insufficient Onboarding Processes
Did you know that extended onboarding correlates to higher physician retention rates in early years, while a culture that emphasizes physician leadership affects overall job satisfaction and effectiveness?
Read through our areas of concentration to understand how CTI Leadership can help your healthcare organization with Culture Consulting and Training.