Physicians working in hospital-owned practices are nearly three times more likely to report dissatisfaction compared to those in physician-owned practices, according to consulting firm Bain & Company’s Frontline of Healthcare Survey, highlighted in an October blog post.
"As healthcare continues to adopt a system-led approach, many practices have strayed from the foundational principles that made the physician practice model successful," the blog states. "These shifts have left many organizations at risk of losing discontented physicians."
Here are 10 key insights from the survey:
1. Health system-led practices have consistently underperformed on the "Net Promoter Score" — a measure of employees' willingness to recommend their workplace — by 25 to 40 points compared to physician-led practices since 2017.
2. Nearly 25% of physicians in health system-led organizations are contemplating a change in employers, compared to just 14% in physician-led practices. Of those considering a switch, 37% are looking to move to physician-owned settings.
3. The survey identified several professional aspects with a "disproportionately high potential to delight or disappoint." In hospital-led practices, these critical dimensions include compensation, staffing levels, workload and autonomy.
4. The blog suggests that improving physician satisfaction in hospital-led organizations is straightforward when referring to these dimensions: fair compensation, sufficient staffing, manageable workloads, leadership alignment, involvement in decision-making and greater autonomy.
5. Physician-led organizations outperform in satisfaction across all professional metrics. The average satisfaction scores range from 70% to 90%, while hospital-employed physicians report lower satisfaction, between 50% and 75%.
6. Resource access shows a significant disparity as well. Among surveyed physicians, 87% in physician-led practices reported having access to necessary supplies and equipment, compared to 68% in health system-led practices.
7. Additionally, 78% of physicians in physician-led practices said their organizations have effective processes and workflows, compared to only 59% in hospital-led organizations.
8. Only about 60% of hospital-employed physicians expressed satisfaction with their organization’s leadership alignment.
9. In contrast, 81% of physicians in physician-led organizations reported satisfaction with their involvement in strategic decision-making, compared to just 50% in health system-led practices.
10. The blog outlines four key strategies for hospitals and health systems to improve physician satisfaction: establishing a strong physician value proposition, involving physicians in decision-making, enhancing technology, and implementing closed-loop feedback systems.