According to the Association of American Medical Colleges, the United States is facing a shortage of up to 122,000 physicians by 2032. This includes a shortage of up to 55,000 primary care physicians and 77,000 specialists.
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As demand for physicians increases, and as the supply of doctors remains static, recruiting physicians is becoming an increasingly difficult challenge.
In response, hospitals, medical groups and other facilities have become more aggressive and creative in crafting physician recruiting incentive packages. A wide range of data regarding the starting salaries offered to physicians, average signing bonuses and other incentives is reviewed in detail in Merritt Hawkins’ 2019 Review of Physician and Advanced Practitioner Recruiting Incentives. This paper focuses on two increasingly important recruiting and retention incentives: educational loan repayment and stipends for medical residents.