Flat or declining reimbursement, malpractice worries, loss of clinical autonomy, and other challenges are taking a toll on physician morale these days. There is a silver lining, however, which is that even in shaky economic times demand for physicians usually remains high.
That certainly is the case today, as a prevailing physician shortage is making it more difficult for hospitals, medical groups, and other healthcare organizations to find the physicians they need. Most physicians, including radiologists, have plenty of practice opportunities from which to choose.
Irving, TX-based Merritt, Hawkins & Associates' new 2008 Review of Physician and CRNA Recruiting Incentives offers a snapshot of what is happening in the physician job market.
The review, which the firm has been conducting for 15 years, includes a breakdown of the recruiting incentives our clients offer to physicians in a variety of specialties, including radiology. National in scope, the review suggests which types of physicians are in particular demand and whether the salaries and other perks employers are offering are rising, falling, or merely treading water.
This year's review, which covers the 12 months between April 1, 2007, and March 31, 2008, shows that over the last three years the number of search assignments the firm conducted for radiologists declined (see chart below), suggesting a decrease in demand for the specialty.
Merritt, Hawkins' physician recruiting assignments in radiology
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Despite this decline, however, salaries offered to radiologists increased (see chart below).
Average annual salary or income guarantee in radiology
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These numbers indicate a shift in the radiology recruiting market that has taken place in the last 18 to 24 months. For several years, Merritt, Hawkins received a growing number of requests for general radiologists. Often, hospitals would engage us to recruit multiple general radiologists for their facilities as they scrambled to keep up with growing demand for imaging services.
Having met many of their general radiology needs, hospitals and medical groups now are retaining the company to recruit individual radiologists in specialty areas such as neurointerventional radiology or mammography. While overall demand for radiologists has diminished relative to several years ago, demand for specialized radiology services remains robust, and employers are willing to pay more for these services.
In addition, the U.S. Deficit Reduction Act has inhibited hiring for some radiology groups. Nevertheless, given long-term trends including population aging and the proliferation of diagnostic imaging technology, the employment outlook in radiology remains very strong. For most radiologists, finding a practice will not be the issue -- finding the right practice will be.
By Mark Smith
Auntminnie.com contributing writer
July 9, 2008
Mark Smith is president of Merritt, Hawkins & Associates, a national physician search firm and a division of AMN Healthcare based in Irving, TX. He can be reached at [email protected].
Related Reading
Survey: Radiologists 50 and older eager for work changes, November 19, 2007
Radiologists still high on recruiters' wish lists, August 14, 2007
RT wages growing more slowly, ASRT finds, July 26, 2007
Mammography pays well despite reputation, SalaryScan survey says, May 10, 2007
Radiologists in growing demand as locum tenens, November 15, 2005
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