The state of healthcare cash bonuses 

Here are five notes on healthcare cash bonuses to know:

1. The average cash bonus paid to employees in December 2023 dropped 21% from the previous year, according to a Jan. 19 report from CNBC, based on a survey of more than 300,000 businesses from payroll software company Gusto. 

2. In healthcare and social assistance industries, which were grouped into one category by Gusto, average year-end bonuses dropped 15.9% from 2022 to 2023. 

3. Sixteen industries saw a decline in the percentage of workers who received year-end bonuses. The healthcare industry saw a 1.3% decline in workers receiving bonuses in 2023. 

4. Diane Hansen, president and CEO of Escondido, Calif.-based Palomar Health, joined Becker's to discuss how giving nurses $100,000 in bonuses over three years helped ensure retention. 

"We are successful at creating a culture that makes people feel like they found a home," Ms. Hansen said. "If we can get people to stay for three years, most often we can get them to stay for much longer. We chose three years and decided then we would reassess the market and see if it really worked or if we needed to adjust."

5. Here are the median sign-on bonuses for nine physician specialties, according to SullivanCotter's 2022-23 "Physician Compensation and Productivity Report": 

  • Internal medicine: $25,000
  • Family medicine: $20,000
  • Gastroenterology: $20,000
  • Neurology: $20,000
  • General psychiatry: $20,000
  • Emergency medicine: $18,000
  • General pediatrics: $15,000
  • Internal medicine: $12,500
  • OB-GYN: $12,500

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