New White Paper Examines Growing Use of Loan Repayment and Stipends in Physician Recruiting
October 07, 2019
By Phillip Miller
Imagine you have completed four years of college, four
years of medical school and three to seven years of residency training. You are
finally ready to advance to the next stage of your medical career as an in-practice physician.
However, there is one cloud on a generally sunny horizon.
You are $200,000 in debt, the result of the loans you had to take out to
complete your medical education.
Now imagine that you are considering job opportunities with
various hospitals or medical groups, one of which is offering to help pay off
some or all of your crushing debt load. You might be tempted to give that
opportunity particular consideration. And while you are still in residency you
also might be tempted to accept a stipend from a healthcare facility, with the
understanding that you will practice at that facility once your training is
Given the growing level of educational debt among new
doctors, both educational loan repayment and monthly stipends have become more
regular components of physician recruiting incentive packages. This trend is examined in more detail in
Merritt Hawkins’ new white paper, Medical Education Loan Repayment and
Resident Stipends: Emerging Trends in
The white paper tracks the increasing number of Merritt
Hawkins’ clients using loan repayment as a recruiting incentive and indicates
how such repayments are structured. It also includes examples of monthly
stipend amounts paid to residents and the terms of such stipends. Both of these
incentives can be used to differentiate a particular practice opportunity from
all the others that highly sought-after physicians may be considering.
You may download your copy of the white paper here. If you
have any questions please email me here.
Phillip Miller is Vice President of Communications for
Merritt Hawkins, the nation’s leading physician search firm and a company of
A Raised Hand: Volume to Value and the Quality Industrial Complex
Even as most of healthcare compensation is still in transition from volume-based models, it is crucial that...
The Importance and Role of Physician Recruiting Professionals
Part of the job description of being a Physician Recruiting Professional is explaining to people at parties,...
A Healthcare Resource for Hiring Veterans
On the day we honor the members of America’s Armed Forces who have served on our behalf, it is appropriate to...