11/02/2024 Edition

HEALINES

• Power Imbalances in Healthcare: An increasing number of independent physicians are selling their practices to health systems or other corporate entities. A decrease in autonomy and overall job satisfaction has followed this shift, with 56% of employed physicians reporting that having less autonomy is what they like least about their jobs. Many healthcare leaders believe that physician-led practices are necessary to correct an increasing power imbalance in healthcare.
• Fewer Residency Applications Per Candidate: The Association of American Medical Colleges (AAMC) recently reported a 7.3% reduction in the average number of residency applications each candidate submitted. This decrease in application numbers, which is much more pronounced for some specialties, is being attributed to the introduction of preference signaling.
• Leveraging IMGs to Alleviate Primary Care Shortage: A new study published in Journal of General Internal Medicine suggests that policies tailored to the citizenship status of international medical graduates (IMGs) should be implemented to better recruit primary care physicians. While current visa incentive programs do drive IMGs to primary care, more nuanced efforts are necessary.

ARTICLES & EPISODES

5 Contract Topics Every Physician Needs to Review

Nirav Shah, MD

Signing an employment contract that treats you fairly is crucial to being successful and happy in your job as an attending physician. It is always necessary to read and understand the contract in full, which an experienced attorney can help you accomplish. However, most contracts are not initially a great fit for you, and you may need to negotiate some terms. Here are a handful of factors you should look out for when reviewing a contract.

Residents Say Modest Salary Increases 'a Disgrace,' Some Believe They Deserve More Than Double Their Pay

Josh Katzowitz

In the 2024 Medscape Resident Salary & Debt Report, fourth-year resident physicians made an average of $70,000, with third-years averaging $68,000 and second-years at $65,000. Resident salaries have only seen modest increases over the past decade and the majority of residents are fed up, leading to unionization and strikes.

Disability Insurance Insights, Long-Term Care & Financial Planning Strategies

Docs Outside the Box

Jamie Fleischner joins the show to speak with Doctors Nii and Renee Darko about disability insurance for physicians. They discuss why disability insurance is crucial to obtain early in your career and how you may or may not need more than what your employer already provides. Nii and Renee also explain their own story behind getting the right disability plans for them.

THE RESOLVE BLOG

How to Network as a Resident

Evan Winter

Discovering and utilizing methods of networking will allow you to connect with physicians who may have more diverse or dissimilar experiences to your own. Starting to network during training or early in your career is particularly beneficial if you wish to define and obtain your personal goals as quickly as possible. It all begins with placing yourself in the proper settings, asking questions, and generally putting yourself out there.

CONTRACTS

Pro Tip: Know with whom you are negotiating a contract and strategize accordingly. If you are unfamiliar with the person representing your employer, or they are the employer's attorney, you may want to have your own attorney negotiate on your behalf. On the contrary, if you know the individual on the other side of negotiations, or they are with a private practice, you should likely take advice from your attorney and then negotiate yourself. Especially in the case of private practice, negotiating directly with them will give you a better idea of how your future colleagues handle business situations.

JOB SEARCH

Upcoming Career Fairs:

• On Tuesday, November 5th, PracticeMatch will host a Family Medicine Virtual Career Fair from 4:00 PM to 6:00 PM CST.
• On Wednesday, November 6th, PracticeMatch will host a Live Career Fair in Chicago, IL from 5:00 PM to 8:00 PM CST.

Featured Job Listings:

Non-Interventional Cardiologist

Silverdale, WA

The Doctors Clinic is currently seeking a BE/BC non-interventional cardiologist to join their team located just west of Seattle, WA. The listed salary range for this position is $465,000 to $515,000.

Primary Care Physician

Charlotte, NC

Sensenbrenner Primary Care is seeking a board-certified primary care physician to join their private practice. The listed salary range for this position is $220,000 to $230,000.

Job listings provided by PracticeMatch