Competition for physicians and advanced practice providers has grown since the beginning of the pandemic, with hospitals and health centers offering higher salaries and incentive bonuses to entice and retain employees.
According to the 2023 "MGMA DataDive Provider Compensation" report, which collected data from nearly 190,000 providers across 6,800 organizations, about 45.91 percent of physicians and 17.85 percent of advanced practice providers were offered a signing bonus this year.
Approximately 42.76 percent of physicians were not offered a signing bonus, compared to 69.97 percent of advanced practice providers.
The median signing bonus for primary care physicians was $20,000, compared to $25,000 for surgical specialists, $25,000 for nonsurgical specialists and $10,000 for advanced practice providers.
For providers who were offered a signing bonus and ultimately did not begin employment with a health system, over half were required to pay back the bonus somehow.
About 35.48 percent of physicians were required to fully pay back the bonus, while 18.09 percent were not required to pay it back. The other 46.44 percent had to pay it back on a prorated basis.
About 36.75 percent of advanced practice providers had to pay back the bonus, while 29.63 percent did not. About 33.62 percent had to pay it back on a prorated basis.