MGMA Survey: Physician compensation increases slightly in academic settings
ENGLEWOOD, Colo. Mar. 15, 2011 – Between 2009 and 2010, academic faculty physicians in primary and specialty care reported slight increases in compensation. According to Medical Group Management Association’s Academic Practice Compensation and Production Survey for Faculty and Management: 2011 Report Based on 2010 Data, median compensation for primary care faculty physicians was $163,704 (an increase of 3.47 percent since 2009), and median compensation for specialty care faculty was $241,959 (an increase of 2.70 percent since 2009). Compensation in academic settings continued to trail that in private practices, as is customary.
"Overall, academic practices provide a different environment for their faculty than private practices," said Jonathan Tamir, associate chairman, Finance & Administration, Department of Internal Medicine, Yale University School of Medicine. "Even the very best academic clinicians will not be as clinically productive as their private-practice counterparts since at least some of their time is devoted to research and teaching efforts—which are never as well compensated as clinical care."
Annual compensation for internal medicine primary care faculty physicians increased by 6.84 percent since 2009, and increased 4.46 percent between 2008 and 2009. Pediatric faculty reported annual compensation of $145,000, a 2.21 percent increase since 2009.
Tamir explains, "Recently, higher salaries have been required to hire internal medicine faculty. It is the law of supply and demand. More applicants are interested in part-time appointments or reduced on-call roles. The demand for more highly paid hospitalists is increasing, further reducing the applicant pool, and senior physicians are retiring earlier than in the past. While causes such as increasing paperwork, decreasing reimbursement, the change in the doctor-patient relationship and increasing regulations are certainly a factor, the bottom line is that there aren’t enough internal medicine applicants available."
Some specialty care faculty also reported increases in compensation since 2009. Compensation for pulmonary medicine faculty rose 7.38 percent, and noninvasive cardiologists' compensation increased 6.70 percent. Ophthalmologists noted moderate decreases in compensation.
MGMA's survey also reported that rank plays an important role in determining compensation. Department chairs and chiefs received the greatest compensation, $292,243 for primary care faculty and $482,293 for specialty care faculty. Primary care professors received $190,815 in compensation and specialty care professors received $268,786.
MGMA’s Academic Practice Compensation and Production Survey for Faculty and Management: 2011 Report Based on 2010 Data contains academic-specific data encompassing physician and non physician faculty and management. This year’s report contains data on 18,776 faculty physicians and nonphysician providers categorized by specialty and 1,993 managers.
Note: MGMA surveys depend on voluntary participation and may not be representative of the industry. Readers are urged to review the entire survey report when making conclusions regarding trends or other observations. Editorial copies of the report are available to qualifying media. Contact Liz Boten, media relations representative, at email@example.com to request a printed copy of the survey. Click here to purchase a copy of the report.