FierceHealthcareFierceHealthITFierceHealthFinanceFierceEMRHospital ImpactFierceMobileHealthcare   FierceCompliance IT

Physician salaries grew in '08 despite recession

Tools
Tags
Relative Value Units
Physician Compensation and Productivity Survey Report
Sullivan Cotter and Associates
physician compensation
Incentive Plans

Well, who would have thought it? Despite the fact that the economy tanked in 2008, physician salaries managed a modest increase of 4.4 percent for specialists and 4 percent for primary care, according to new survey research from Sullivan, Cotter and Associates.

The firm's 2008 Physician Compensation and Productivity Survey Report, which drew on surveys of 257 healthcare organizations employing more than 41,000 physicians, found that 72 percent of survey respondents gave their employed physicians salary increases last year. This tracks almost exactly with 2007, when 73 percent reported boosting physician salaries.

The report also noted an increased use of incentive plans, with payouts tied to quality measures, and a drop in compensation tied to work Relative Value Units. Seventy percent reported using incentive compensation, up from 60 percent in 2005, with productivity being the most common factor used to determine payouts.

To get more data from the study:
- read this Healthcare Finance News article

Related Articles:
HFMA ANI 2008: Estimating Fair Market Value for physician pay
Specialty physician compensation barely keeps up with inflation
Cleveland Clinic announces hiring and salary freeze

Bookmark and Share
Get Your FREE FierceHealthFinance Email Newsletter:
Comments (3) | Post a comment

Comments

Good for them! They saw declines in their salaries of 30-50% over the last 5-7 years. Now there are fewer students and the need to increase salaries. What goes around comes around. When a person only gets 6 minutes to evaluate a patient as dictated by managed care companies, something's got to be wrong.

Nobody in managed care "dictates time." It is astounding the level of understanding by most Americans of the healthcare system. Physicians receive "higher" reimbursement from Managed Care companies than Medicare...about 20% more on average, albeit lower than Medicare in a handful of states. So, the "cost shifting" to employers and the "low governmental" funding forces physicians to maximize productivity. Having stated all that, how will Obama's plan work when the system is already taxed for productivity? The entire "funding" mechanism for physicians by medicare and managed care companies will need to be changed so that physicians are no reimbursed for performing procedures. Either fix the funding mechanisms or let Uncle Sam pay them a salary and do away with employer healthcare. I'm sure physician's current salary vs. government pay will attract even more people to their line of work (sarcasm). And I am sure people working for employers with good benefits will be pleased to receive less rich benefits (additional sarcasm) now that they are on a governmental plan. Canadian healthcare is so good we have people crossing the border for simple MRI's...

Primary care is no good a profession in times of recession. Patients will finally, reduce in numbers. who would throw money at a family doctor for a routine checkup. The times of luxuries are over at least for some years from now.
Cost of heath care is too high especially in this economy. If that be the trend, both patients and physicians will suffer

Post new comment

The content of this field is kept private and will not be shown publicly.

More information about formatting options

To combat spam, please enter the code in the image.