DALLAS, Sept. 26, 2023 (GLOBE NEWSWIRE) — The majority of new physicians receive over 100 job solicitations from potential employers during their training, yet close to one-third would choose a field other than medicine, according to a new survey by AMN Healthcare’s Physician Solutions division (formerly known as Merritt Hawkins).
The 2023 Survey of Final-Year Medical Residents; Many Job Choices, Many Reservations examines the job preferences, plans and expectations of physicians in their final year of residency training. Over one half (56%) said they received 100 or more job solicitations from hospitals, medical groups and physician recruiters during their training, the highest number since the survey was first conducted in 1991. Seventy-eight percent received 51 or more job solicitations, also the highest number recorded by the survey.
“Physicians coming out of training are being recruited like blue chip athletes,” said Leah Grant, President of AMN Healthcare Physician Solutions. “There are simply not enough new physicians to go around.”
Second Thoughts
Despite a plethora of jobs to choose from, close to one-third of medical residents (30%) said they would not choose medicine if they had their careers to do over again, the highest number recorded by the survey since its inception. Like many more seasoned physicians, the majority of residents surveyed have experienced feelings of burnout. Eighty-one percent of residents surveyed said they sometimes, often or always experienced feelings of burnout during their training. Close to one-half (45%) said they often or always experienced feelings of burnout.
“It is concerning that many new physicians already feel burned out before they enter their first practice,” said Grant. “Physician burnout at all career stages remains a public health challenge that must to be addressed.”
Female Residents Expect to Earn Less
The survey indicates that female residents expect to earn less in their first practice than male residents. Eighty-one percent of male residents said they expect to earn $251,000 or more in their first practice, compared to only 58% of female residents. Earning expectations were lower for female residents even among the same specialty types. It has been speculated that the continued income disparities between male and female physicians may be linked to the lower income expectations of female physicians which may cause them to be less assertive in contract negotiations than male physicians. The survey suggests lower income expectations among female physicians may begin early in their careers.
Little Interest in Rural Areas
The survey conveys some somber news for rural communities, which traditionally have had a difficult time attracting physicians. Only 2% percent of residents would prefer to practice in communities of 10,000 people or fewer and only 4% would prefer to practice in communities of 25,000 people or fewer.
The survey also indicates that a majority of newly trained physicians would prefer to be employed, and that few seek an independent, private practice setting. Sixty-eight percent of residents listed employment by a hospital as one of their top two choices for a first practice setting, compared to only 6% who picked a private solo practice among their top two choices.
The majority of residents surveyed (61%) said they received no formal instruction on the business of medicine during their training, which may explain their reluctance to take on the challenges of running a private practice. Forty-one percent said they are unprepared to handle the business side of medicine.
“The days of new doctors hanging out a shingle in an independent solo practice are over,” Grant said. “Most new doctors prefer to be employed rather than deal with the financial uncertainty and time demands of private practice.”
Based on 241 responses, with an overall margin of error of +/- 5%, AMN Healthcare’s 2023 Survey of Final-Year Medical Residents: Many Job Choices, Many Reservations can be accessed at:
https://www.amnhealthcare.com/amn-insights/physician/surveys/2023-medical-residents-survey/?utm_source=thirdpartywebsite&utm_medium=Content&utm_campaign=Medical_Residents_Survey_Sept2023&LO=Other
About AMN Healthcare
AMN Healthcare is the leader and innovator in total talent solutions for healthcare organizations across the United States. The Company provides access to the most comprehensive network of quality healthcare professionals through its innovative recruitment strategies and breadth of career opportunities. With insights and expertise, AMN Healthcare helps providers optimize their workforce to successfully reduce complexity, increase efficiency and improve patient outcomes. AMN total talent solutions include managed services programs, clinical and interim healthcare leaders, temporary staffing, permanent placement, executive search solutions, vendor management systems, recruitment process outsourcing, predictive modeling, language interpretation services, revenue cycle solutions, and other services. Clients include acute-care hospitals, community health centers and clinics, physician practice groups, retail and urgent care centers, home health facilities, schools, and many other healthcare settings. AMN Healthcare is committed to fostering and maintaining a diverse team that reflects the communities we serve. Our commitment to the inclusion of many different backgrounds, experiences and perspectives enables our innovation and leadership in the healthcare services industry. For more information about AMN Healthcare, visit www.amnhealthcare.com.
| Media Contact Corporate Communications AMN Healthcare AMN-PR@amnhealthcare.com | Investor Contact Randle Reece Senior Director, Investor Relations & Strategy AMN Healthcare (866) 861-3229 investorrelations@amnhealthcare.com |
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