In the fourth quarter, median work relative value units per full-time physician varied across specialties, with medical specialties leading at 7,139 wRVUs. Physician compensation followed a similar pattern, with surgical specialists earning the highest median paid compensation at $491,000 per FTE.
Despite an encouraging increase in net revenue per physician, rising expenses remain a challenge. These figures underscore the mounting financial pressures and workforce challenges facing healthcare organizations. For executives, balancing rising costs, evolving productivity demands, and compensation structures will be critical in sustaining financial stability and operational efficiency.
Here are five things to know:
1. Median net revenue per physician FTE was $774,118 for the three-month’s end in January, up 7% year over year and 19% since 2023, according to Strata.
2. Total direct expense per physician FTE hit $1.14 million, up 20.1% over 2023, according to Strata. Expenses exceeded $1 million for the first time last year. The median investment per physician increased nearly 2% year over year and nearly 17% since 2023.
3. Physician productivity increased 8.4% in the last two years while support staff levels dropped 2.6%, according to Strata.
4. Median physician wRVUs per full time physician in Q4, per Kaufman Hall:
- Primary care: 5,976
- Medical specialty: 7,139
- Surgical specialty: 6,948
- Hospital-based specialty: 5,444
5. Median physician paid compensation per physician FTE in Q4, per Kaufman Hall:
- Primary care: $305
- Medical specialty: $420
- Surgical specialty: $491
- Hospital-based specialty: $368
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