When calculating your physician turnover, pay close attention to these three buckets of data.

I’ve seen various methods of calculating physician turnover, some of which are pretty complicated. No matter which one you use, there are three buckets of info you should focus on. Why? The approach to improve retention will be related but somewhat different depending on the bucket.

Voluntary Turnover:

These are the folks that leave because they just don’t want to be there any longer. (Include any early retirements if you understand their reason for leaving as dissatisfaction.)

For this bucket, you will focus your retention plan on what happens after they get there. This includes on-boarding and orientation forward.

Involuntary Turnover:

These are the folks you terminate. (or knowingly push out)

For this bucket, you should focus your retention plan (mostly) on the hiring and selection process.

Planned Turnover:

These are the ones you hire on a temporary basis for a specific period of time, knowing upfront they are not staying. (Often graduating residents waiting on a spouse or significant other to finish their training.) Make sure you also include any locum tenens physicians.

For this bucket, I suggest these numbers are taken out of your turnover stats. You went into their employment knowing it was on a temporary basis. Keeping these in your turnover calculations over-inflates your percentage.

Target Percentages:

With the national turnover rates floating between 6 and 7% (twice this for new or recent grads 1 to 5 years out of training), I think a reasonable target should be 3% voluntary and less than 1% involuntary.

Using the above in your calculations will give you a clearer picture of the reality you are dealing with.

Good Luck!

Kurt

https://Scott-search.com