Key Changes for the AMGA Medical Group Compensation and. Financial Survey. • Advanced Practice Clinician Compensation and. Unlike other physician compensation surveys,. Merritt Hawkins' . Number of Searches by Community Size. 3. 4. / / / / / Unlike other physician compensation surveys, Of total physician compensation / / / / Family Medicine. (includes FP/OB).
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REPORT BASED ON DATA . Direct Compensation and Productivity for Physicians Section III: Summary of Starting Salaries by Specialty. Survey Method. Median Salary Salary Year. MGMA Physician Compensation and . Production Survey: Report Based on. Data (Free). All Specialties. MGMA. All rights reserved. No part of this document may be reproduced, stored in a retrieval system or transmitted in any form or by any other means – digital.
This year s provider compensation data remains the gold standard, representing 3, groups and 69, providers. The following analyses were created to help industry professionals understand what drives compensation and to give insight into current trends. These analyses use the median unless otherwise stated, and the report reflects data submitted for the fiscal year. Specialty care compensation is up 2. Primary care, however, is proving a more steady increase over recent years. Specialty care is close behind with a Total Percent Increase Year to Year 5.
Reviewing the MGMA survey data by quartile of work RVUs, physicians in general surgery performing in the top quartile for work RVUs had higher compensation than those in lower quartiles of production. However, the compensation to work RVU and per collections ratios decreased with higher production.
According to MGMA survey data, providers with compensation tied to patient satisfaction or quality metrics had slightly higher compensation than those who reported that none of their compensation was tied to patient satisfaction or quality.
Conversely, production was lower for those with value metrics tied to compensation when compared to those without.
All specialties listed below had an overall two-year increase in compensation ranging between 7. Total Percent Increase Emergency Medicine 5. Daily stipends are not defined by the number of hours, but rather are based on a fixed amount per day. This is a very frustrating concept to grasp as most people would assume a highly producing physician should make more per work RVU than a lower producing physician.
But what causes this disparity? In order to fully understand this concept, one must first understand how the data is derived in the MGMA survey. As a result, the survey data is potentially skewed by physicians who are paid base salaries that do not necessarily correlate with their actual production.
Another plausible explanation is that even at the 90th percentile of work RVU, the physician is still not producing enough revenue to account for the large fixed cost necessary to run a physician practice. It is important to note, this concept is still being researched and a single answer has not yet been developed.
Conclusion As the amount of physicians employed by hospital and health-systems continues to increase, the importance of structuring physician compensation arrangements that are within FMV are also increasing.
However, these methods are also some of the most misapplied compensation models due to the inherent inverse relationship between compensation and productivity. With a better understanding of this relationship and the assistance of an independent valuation expert, developing a competitive and compliant physician compensation arrangement should be an easier and less stressful process.
Copyright The physician compensation report includes:. You have the freedom to opt-out at any time. The faculty salary survey lists salary details based upon department, degree, region, and ownership.
Obtain the report by going to https: MGMA survey data have been used for more than 35 years as a benchmark for compensation and production in practices of various sizes and types across the country.
MGMA reports typically include data from more than 60, providers in specialties. The survey is very comprehensive and includes:. Merritt Hawkins — Physician Compensation, Salary, and Physician Practice Surveys Merritt Hawkins conducts a range of online surveys aimed at learning more about physician salaries and compensation.
The survey results are segmented into various specialties, locations, and practice arrangements.
For each report, the OES program surveys approximately , establishments per panel every six months , taking three years to fully collect a sample of 1. The OES program produces physician salary estimates for the nation as a whole, by state, by metropolitan, and by non-metropolitan area.
Unfortunately, some medical specialties are combined into one category making data less specialty specific. Additionally, because of the way data is gathered, the salaries of self-employed physicians are not included. A great feature of this survey is that you can search for the regions of the country with the highest concentration of jobs in your medical specialty or with the highest salaries for your field.