“Second only to the investment we made in saving children’s lives, you’re the best money I’ve spent this year. You can quote me on that.”
– Kevin Causey, Vice President/Chief Development Officer, Montage Health Foundation
Every physician vacancy is expensive. The typical physician generates $2.38M in net revenue per year—about $6.5K per day—so each open day is material to your bottom line. With a median time-to-fill of 129 days across specialties (and longer for surgical roles), the revenue at risk often exceeds $800K per vacancy, before factoring in downstream effects on access and referrals.
Retention is just as costly when it fails: organizations commonly incur $500,000–$1,000,000+ per physician in turnover and reduced productivity. And burnout is costing organizations billions, with over 45% of physicians reporting symptoms that lead to reduced productivity, medical errors, or early exits from the profession. Even as burnout rates improve, it still drains about $4.6 billion annually from U.S. health care in lost productivity and physician departures.
Recruitment today isn’t about filling vacancies; it’s about staying ahead of them.
As AMA president Jesse Ehrenfeld, MD, MPH, recently warned:
“The physician shortage that we have long feared…is already here. It’s an urgent crisis hitting every corner of this country.”
The AAMC projects a shortage of up to 86,000 physicians by 2036, with the steepest gaps in primary care and rural medicine. That shortage has created a bidding war—but money alone can’t solve it.
Here’s where student loan counseling helps you hire more. Instead of offering a one-size-fits-all bonus, counseling differentiates your organization by showing a genuine commitment to the physician’s long-term financial health. Our analysis equips candidates with clear comparisons between offers, helping them make decisions faster and with greater confidence. It reduces the back-and-forth of negotiations, shortens time-to-sign, and builds loyalty before day one.
At Lehigh Valley Health Network, competitors were offering $50,000–$100,000 in loan repayment bonuses. Instead of joining the bidding war, they offered student loan counseling. The result: a 32% increase in provider signings in a single year—their strongest recruitment year ever.
While some health systems are earmarking $100M+ collectively for loan repayment programs, counseling offers a smarter alternative. It delivers the same competitive edge without tying your strategy to ever-escalating payouts. The result is a sustainable, cost-effective way to stand out in a crowded market—and to fill vacancies faster
Recruitment brings people in. Retention keeps it steady.
Every physician departure costs more than money—it costs relationships, continuity of care, and community trust. On average, turnover runs $500,000–$1,000,000+, and refilling the role can take 129 days on average, 200+ for subspecialists, and 277 for surgeons.
And the risk isn’t hypothetical. Two highly valued physicians at one hospital loved their teams, loved their patients—and still left. Why? A competitor across the street offered student loan support. That single factor outweighed every other loyalty.
The risk is real: nearly 1 in 2 employees—and 2 in 3 carrying $150K or more in student debt—report they are actively considering an exit from their current role, according to a 2023 survey by the ADP Research Institute’s Data Lab.
Retention isn’t just about dollars; it’s about removing the stressors that pull physicians away. Loan counseling demonstrates an investment in their future, not just their current role—and that’s difficult to walk away from.
Takeaway: When every departure threatens revenue and relationships, retention becomes your growth strategy. Student loan counseling makes staying the easy choice.
The third pillar in a strong retention strategy is financial well-being. Addressing student loan debt enables physicians to concentrate on their clinical work and deepens their commitment to the team. And it matters, because financial strain and burnout are closely connected.
Burnout has become a second epidemic. While rates fell to 45–48% in 2023–2024, the cost burden persists at an estimated $4.6B annually from turnover and reduced clinical hours. Burnout is also associated with 2x higher odds of self-reported medical errors—a safety and reputational concern.
Student debt isn’t abstract. With payments rivaling a mortgage, many physicians delay buying homes, starting families, or saving for retirement. That stress doesn’t disappear when they walk into the clinic—it follows them into patient encounters.
Loan counseling eases burnout, because it removes one of its heaviest weights. By replacing confusion with clarity, physicians regain focus, energy, and peace of mind.
Takeaway: Supporting physicians’ financial well-being isn’t just the right thing to do—it’s a strategy that drives revenue, retention, and patient satisfaction.
