Physicians Practice has released their 2012 compensation survey which gives you a small outlook into the current state of physician incomes. The total number of respondents is actually less than last year’s survey with only 1,311 physicians compared to 1,766 from before.
Majority of respondents reported that their compensation is largely based on productivity. However, 38% of respondents reported that their compensation is based on value of care and outcomes. Fee for service may eventually be replaced by outcomes based payments.
Here are some other key points from the survey:
- Almost 40 percent of primary care physicians and most pediatricians make less than $150,000 a year
- 54% of respondents believe their net income is disappointing
- More than half of respondents have taken steps to boost their revenue, such as working outside of the practice.
- 34.6% of respondents reported a decrease in income (anywhere between 1 and greater than 10%)
- 27.2% of respondents reported an increase in income (anywhere between 1 and greater than 10%)
Finally, here are the survey results for a breakdown of income by specialty. Specialties highlighted include OB/GYN, Primary Care (which is IM and FM here), Pediatrics, Psychiatry, and Radiology.
Sources
Insurancenews.net
Physicians Practice, 2012 Physician Compensation Survey Data
