Retire already! Managing physicians who no longer want to work, but have to

Area of Science:

• Medical Practice Management
• Physician Workforce Dynamics
• Healthcare Economics

Background:

• Economic downturns impact physicians' retirement plans.
• Reduced retirement savings force some physicians to delay retirement.
• This leads to disengaged physicians remaining in practice due to financial necessity.

Purpose of the Study:

• To provide medical practice managers with strategies to manage physicians who are "retired-on-the-job".
• To offer solutions for improving the attitude and productivity of these physicians.
• To present options for encouraging retirement if engagement cannot be improved.

Main Methods:

• Review of four distinct management strategies for disengaged physicians.
• Analysis of coaching as an intervention.
• Evaluation of flexible work arrangements.
• Consideration of revenue-sharing agreement modifications.
• Discussion of dismissal as a final option.

Main Results:

• Coaching can potentially improve physician attitude and productivity.
• Flexible work options may re-engage older physicians.
• Adjusting revenue-sharing agreements can incentivize continued work.
• Dismissal remains a viable, though often last, resort.

Conclusions:

• Practice managers face unique challenges with physicians delaying retirement.
• A multi-faceted approach including coaching, flexibility, and financial adjustments is recommended.
• Addressing "retired-on-the-job" physicians is crucial for practice efficiency and morale.