Physician Recruiters See Revenue Growth

By Steve Barrett
Monday, July 1, 2019

Physician recruitment firms are enjoying substantially higher revenue, according to a survey by Staffing Industry Analysts and the National Association of Physician Recruiters.

The survey, which includes data from 24 in-house recruiters as well as retained and contingency search firms, also found most physician placements were in hospitals.

Among the key findings:

  • 2018 revenue growth for physician recruitment firms was 17 percent.
  • Placements during 2018 were highest among primary care providers, internal medicine subspecialists and hospitalists.
  • Only 27 percent of physician placements were in private practice. Slightly more than 50 percent were in hospitals, and the remainder were in contract management groups, federally qualified health centers, and academic and other settings.
  • The most commonly used sources for leads were email campaigns and job boards. Less popular sources included company websites, referrals, cold calls and text messages.

Exactly what proportions of the growing revenue for recruiters reflect increasing competition for physicians, a more vigorous economy and other factors is uncertain.

The United States could face a physician shortage of up to 121,300 by 2030, according to the Association of American Medical Colleges, which supports increased federal funding for residency positions, as well as loan forgiveness programs and other measures, to address the anticipated shortfall.