Providers coming out of residency positions and joining new practices in 2022 earned more than their pre-pandemic counterparts in 2019, according to the 2023 "MGMA DataDive Provider Compensation" report, which collected data from nearly 190,000 providers across 6,800 organizations.
Compensation Issues
Competition for physicians and advanced practice providers has grown since the beginning of the pandemic, with hospitals and health centers offering higher salaries and incentive bonuses to entice and retain employees.
The following hospitals and health systems have announced or shared plans for raising workers' pay since April 28.
According to the Bureau of Labor Statistics, certified registered nurse anesthetists in the U.S. earn an average hourly wage of $98.93, but wages can vary based on the cost of living in every state.
Physician assistants in the U.S. make an average of $125,270 annually, according to the latest data released April 25 by the U.S. Bureau of Labor Statistics, but wages can vary based on the cost of living in every state.
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Surgeons, excluding oral and maxillofacial surgeons, earn $167.25 per hour on average, according to data published April 25 from the Bureau of Labor Statistics' occupational employment statistics survey.
Few bonuses were paid to executives at some of the country's largest for-profit health systems in 2022 as hospital margins plummeted due to labor challenges, declining patient volumes, inflation and the rising costs of medical products.
King of Prussia, Pa.-based Universal Health Services executives saw their total compensation shrink by millions in 2022, in line with what other for-profit health systems reported, according to a proxy statement filed April 6 with the Securities and Exchange Commission.
Pharmaceutical and health insurance CEOs were among the highest-paid executives of the largest U.S. companies in 2022, according to Equilar.
The average hourly pay for registered nurses in the U.S. is $42.80, according to the most recent U.S. Bureau of Labor Statistics occupational employment statistics survey, but wages can vary based on the cost of living in every state.