You want the physicians in your organization to be healthy, engaged, productive and happy to be working where they are. But a host of factors—including the demands of new technology, increasing patient loads, changing models of compensation and time pressure—are fueling an epidemic of physician burnout. Some studies suggest 54 percent1 of practitioners are affected.
Burnout degrades care—but it also costs money. For one thing, it’s a major driver of turnover: physicians experiencing burnout are twice as likely to leave their organizations as their more engaged peers. This emotional toll can represent millions of dollars in red ink. In an organization with 300 physicians, burnout can cost the organization $3,681,818 every year—in just turnover costs, to say nothing of lost revenue from lowered physician productivity, the potential price tag of malpractice litigation due to medical errors, patients’ dissatisfaction with care—and other financial drains.
Investing in Physician Well Being Can Save Real Money—and Produce a Healthy ROI
If the same example 300 physician healthcare organization decided to invest in well being programs for its physicians, they could save over $2,000,000 annually, with a return on investment around 42:12.
Download the infographic for a clear, impactful picture of the cost of physician burnout and the difference investment in well being programs can make. Also included, the opportunity to download an ROI calculator to estimate how much your organization could save!
- AMA STEPS Forward™, Creating the Organizational Foundation for Joy in Medicine™. https://www.stepsforward.org/modules/joy-in-medicine
- VITAL WorkLife, ROI Calculator, http://info.vitalworklife.com/download-roi-calculator-coalition