Physician expenses tick up: 5 notes

Physician practice costs have increased throughout the year, a trend that could continue into the new year, according to data from Strata Decision Technology.

The investment needed to support a physician practice jumped 8.8% year over year in October to $332,887 per full-time equivalent physician, according to data based on information from 10,000 physician practices.

Here are five more insights from the report:

1. Median direct expenses per physician hit $1.1 million annualized, up 9.8% year over year.

2. Median net revenue per full time physician was up 9.1% to $726,691.

3. Physician productivity increased 8.3% with work relative value units per full time physician hitting 6,311.97 for October.

4. Median support staff per full time physician dropped 5.8% to 2.85 per 10,000 wRVUs.

5. Over the last two years, the investment per physician has increased 17%.

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Articles We Think You'll Like

 

Featured Whitepapers

Featured Webinars