physiciancompensationreport.ppt

As in Medscapes 2011 survey, the highest-earning physicians practice in the North Central region, comprising Iowa, Missouri, Kansas, Nebraska, and South and North Dakota; the mean income of physicians there is $234,000. The next-highest earners were doctors in the Great Lakes region ($228,000). Physicians in the Northeast earned the least, at a mean of $204,000. Theres less competition among physicians in smaller communities and rural areas, says Bohannon. There isnt that same downward pressure on reimbursement that you have in metropolitan areas. Generally, smaller communities have to pay more to attract physicians. Dont write off private practice! Although physicians are rushing toward employment, partners in private practice far outearned physicians in any other work environment. For physician respondents overall, partners in private practice earned a mean of $308,000. Solo-practice owners earned a mean of $222,000, while employed physicians earned a mean of $194,000. Owners of practices are busier than hospital-employed doctors, said Bohannon. Medium-sized groups do well because of economies of scale and greater bargaining power with health plans. Apparently, its worth the hours and money required to become board certified. Physicians who are board certified earned a mean of $236,000; thats 89% more than non-board-certified doctors, who earned a mean of $125,000. Board certification has great impact on more than just compensation. It is often required for inclusion in health plans and for hospital privileges. As patients are becoming savvier, they research physicians backgrounds. Board certification becomes more important, said Bohannon. Physicians overall are nearly evenly split about whether they feel fairly compensated: 51% said yes, 49% no. Those figures are nearly identical to Medscapes 2011 compensation survey. However, among primary care physicians, a slight majority (54%) in the 2012 survey said they werent being fairly compensated. Physicians who felt m