15 Statistics From Recent Healthcare Compensation Surveys
1. Healthcare board compensation increased from $121,743 in 2009 to $137,601 in 2010, an increase of 13.3 percent. Source: The BDO 600: 2011 Survey of Board Compensation Practices of 600 Mid-Market Public Companies.
2. Of hospital executives surveyed at 1,852 hospitals, 11.4 percent reported that neither their salary nor bonus is tied to accepted benchmarks or stated goals for quality of care and/or patient safety. Source: U.S. News & World Report.
3. In 2011, integrated health system CEOs and independent hospital CEOs saw an increase in total cash compensation — base salary plus annual incentives — of 3.1 percent and 6 percent, respectively, from the previous year. Source: 2011 Hay Group Healthcare Compensation Study.
4. The median salary for CFOs in a healthcare company with sales between $100 million-$499 million is greater than $200,000. Source: Michal Matějka of the W.P. Carey School of Business.
5. Wages for full-time employees in the healthcare and social assistance industry were relatively stable in the second quarter of 2011. Source: PayScale.
6. Invasive cardiology had the highest average income offered in 2010-2011 at $532,000. Source: 2011 Review of Physician Recruiting Incentives, Merritt Hawkins.
7. Anesthesiologists, gastroenterologists and radiologists reported decreased median compensation from 2009-2010, whereas internists, pediatric/adolescent physicians, psychiatrists, dermatologists, neurologists and general surgeons reported increases. Source: Physician Compensation and Production Survey: 2011 Report Based on 2010 Data, MGMA.
8. Specialty physicians' median first-year guaranteed salary was $258,677 in multispecialty practices and $240,596 in single-specialty practices. The trend was reversed for primary care physicians, whose median starting salary was $165,000 in multispecialty practices and $172,400 in single specialty practices. Source: Physician Placement Starting Salary Survey: 2011 Report Based on 2010 Data, MGMA.
9. Payment rates for on-call coverage increased 4 percent in 2010 compared to 2009. Source: 2010-2011 Physician Contract Benchmarks Reports, MD Ranger.
10. Family practice was the most requested specialty among physician searches from April 1, 2010-March 31, 2011. Source: 2011 Review of Physician Recruiting Incentives, Merritt Hawkins.
11. More than 90 percent of physician searches that included physician production bonuses reward physicians using a fee-for-service volume model. In contrast, less than 7 percent of the searches rewarded physicians for meeting quality of cost goals. Source: 2011 Review of Physician Recruiting Incentives, Merritt Hawkins.
12. Eighty-two percent of physicians did not receive compensation from prescriptions, lab tests, diagnostic imaging, hospital admissions or facility/surgery fees. Source: Jackson Healthcare.
13. Six percent of physicians reported they were dissatisfied with their 2010 compensation to the point that they are unsure if practicing medicine is worth continuing. Source: 2011 Physician Compensation Survey, The Medicus Firm.
14. Reimbursement decreases was the top factor physicians reported as a limit to their income, at 30.2 percent. Source: 2011 Physician Compensation Survey, The Medicus Firm.
15. In a survey of 22 specialties, cardiologists ranked at the bottom when it came to compensation satisfaction, with only 46 percent feeling they were fairly compensated. The median compensation of the cardiologists surveyed was $325,000. Source: Medscape Cardiology Compensation Report 2011.
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