While a handful of specialists saw pay increases of 7% or more, compensation stayed fairly flat overall, according to American Medical Group Association consultants.
More than three-quarters (77%) of physician specialists enjoyed increased compensation in 2016, but the overall weighted average increase of 2.9% was slightly lower than the 3.1% bump specialists experienced in 2015, according to a report from AMGA Consulting.
- Ophthalmology surgery (7.7%)
- Cardiac/thoracic surgery (7%)
- Hematology and medical oncology (6.7%)
- Allergy/immunology (5.9%)
- Pulmonary disease (5.6%)
Nonetheless, surgical specialties saw an average increase of 2%, down from 3.6% in 2015. Meanwhile, primary care specialists saw a smaller dip, earning an average increase of 3.2% in 2016 compared to 3.6% in 2015.
“We are seeing signs of a perfect storm gathering as costs continue to rise, productivity is flat, and collections are flat, with 51% of specialties this year reporting a decrease in median net collections,” said Tom Dobosenski, CPA, president of AMGA Consulting.
“These trends are driving enhanced efficiency and consolidation, but the cost curve will only bend so much," Dobosenski added. "With 61% of groups responding that some of their physicians’ compensation was based on the achievement of value-based measures, the move to value-based incentives is happening, albeit at a slower pace than anticipated. However, value-based incentives do not lessen the economic pressures on medical groups, as they do not necessarily mean reductions in compensation.”
This year’s survey, which also includes RVU data, marks the 30th year of publication of the findings.