MGMA annual survey reveals trends in management compensation, with education and geographic location playing key roles
Englewood, Colo. – June 21, 2017— Medical Group Management Association (MGMA) released their 2017 MGMA DataDive Management and Staff Compensation Survey today which revealed that the largest factor impacting pay of management within health systems and practices is education. Additionally, geographic location and ownership model were significant factors in management compensation across the board.
Across the board, management and staff personnel earn more having a bachelor’s degree over a high school diploma, and compensation differences are even greater with a master’s degree. General management positions with a master’s degree report earning $7,000 more than their counterparts with bachelor’s degrees, and senior management positions report over $10,000 more.
In addition, certification proved a worthy endeavor, with management personnel reporting earnings of 12-15 percent more than their counterparts who are not certified. Executive and general management positions with MGMA’s American College of Medical Practice Executives (ACMPE) certification reported even greater compensation figures than those not certified, with differences of nearly $25,000.
Our annual survey continues to show the importance of education in relation to compensation,” said Dr. Halee Fischer-Wright, MD, MMM, FAAP, CMPE, President and Chief Executive Officer at MGMA. “Knowing that certification, and the MGMA certification to be exact, were the highest contributing factors continues to show the value placed on certifications in a world where degrees used to be the only way forward.
Based on comparative data of more than 90,000 management and staff positions from more than 1,800 organizations, MGMA’s Management & Staff Compensation Survey is the most comprehensive survey of its kind in the United States (U.S.). The survey represents a variety of practice types including physician-owned, hospital-owned, academic practices, as well as managers and staff from across the nation at small and large practices.
OTHER HIGHLIGHTS FROM THE SURVEY SHOWED GEOGRAPHIC LOCATION AND OWNERSHIP MODEL WERE SIGNIFICANT FACTORS:
- MIDWEST REIGNS SUPREME: Survey results show that compensation for executive, senior and general management positions are the highest in the Midwest region of the United States. The largest compensation disparity occurs in the executive management-level position, where Midwest executive management personnel report nearly $30,000 more than their counterparts in the West and approximately $25,000 above their counterparts in the South and East.
- PRACTICE OWNERSHIP: Overall, general management positions in physician-owned practices experienced the most compensation increase at more than 4.5 percent in comparison to last year. In hospital-owned practices, senior management positions saw the highest increase with a two percent increase
MGMA’s Management & Staff Compensation Survey is the most trusted compensation survey in the U.S., undergoing a rigorous evaluation and inspection.