Physicians Practice, a physician management publication, collected responses from 1,311 physicians for its annual compensation survey. When it came to outlier figures, physician compensation appeared to trend downward. Roughly 18.7 percent of respondents said their income was down by more than 10 percent, while only 8.8 percent said it was up by more than 10 percent.
Here are some other findings from the survey:
• Roughly 29.2 percent of physicians said more than 20 percent of their compensation is based on productivity, patient satisfaction and other incentives.
• A plurality of respondents (46.8 percent) said they work between 41 and 60 hours per week.
• Roughly 40 percent of primary care physicians said they make less than $150,000 per year.
• Retirement plans, profit-sharing, a regular bonus program and stock options were the most common incentives within a total compensation package.
• Annual discussions of Medicare reimbursement cuts associated with the sustainable growth rate have forced 14.6 percent of physicians to not accept new Medicare patients. Four percent have stopped seeing Medicare patients altogether.
More Articles on Physician Compensation:
9 Common Physician Perks Offered Other Than Salary
Top 10 Highest Stipends for Medical Directors in 2011
Primary Care Physicians Get Medicaid Pay Boost; OB/GYNs, ER Physicians Excluded
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.