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Hospital CEO’s Salary—How Much More Than Docs?

Hospital CEO’s Salary—How Much More Than Docs?

Does the salary of a hospital chief executive officer (CEO) have anything to do with the quality of care being provided at the facility—or even the hospital’s bottom line? Unfortunately, and surprisingly, there isn’t a clear answer to that. Healthcare CEOs can shape the priorities and performance of their organizations, having an impact that can reverberate to the many crevices of healthcare. But the degree to which their compensation is based on their hospitals’ quality of performance has been unknown. A JAMA Internal Medicine study sought to characterize CEO compensation and examine its relationship with quality metrics. What did they find? Researchers determined that the average income for a CEO at a nonprofit hospital is almost $600,000, with CEOs at large networks and large teaching hospitals easily clearing $1 million. In addition to base pay, healthcare CEOs can tack on additional bucks with bonuses and stock options (at for-profit institutions). CEOs at the largest hospital systems, especially for-profits, can make up to $12 million. In the meantime, physicians comparatively only make a tiny fraction of those income levels. Orthopedic surgeons, who are the most highly paid specialists, had a mean income of $413,000 in 2013, according to Medscape’s 2014 Compensation Report. The JAMA Internal Medicine study found that hospitals with high levels of advanced technologic capabilities and those with high performance on patient satisfaction appeared to compensate their CEOs more than those with low levels of technology and low performance. However, there was no association found between CEO pay and hospital’s margins, liquidity, capitalization, occupancy rates, process quality performance, mortality rates, readmission rates, or measures of community benefit. What...
2014 Physician Compensation Report Highlights

2014 Physician Compensation Report Highlights

A newcomer snatched a spot in the top 3 highest earning specialties – check out which one in our summary of Medscape’s 2014 annual compensation report! In this year’s Medscape Physician Compensation Report, a great turnout of over 24,000 physicians across 25 specialties shared their salaries, hours worked, and details of how healthcare reform impacted their healthcare environment. Salary increases were seen in all but six specialties, compared with last year’s 2013 Physician Compensation Report. ♦ The top three earning specialties this year are Orthopedics ($413k), Cardiology ($351k), and both Urology and Gastroenterology at $348k. ♦ The lowest earners remain roughly the same as last year, with Infectious Diseases specialists ($174k), Family Medicine ($176k), and Endocrinologists ($181k).     Source: Medscape. Other highlights from the report include: ♦ Rheumatology hands down had the highest increase at 15% this year. ♦ Nephrology had the lowest increase (8%). ♦ Specialties whose compensation declined this year included Pathology (3%), Radiology (2%), Pulmonary Medicine (2%), and Cardiology (2%). ♦ On average, men made 31% more than women in 2013, down from 39% in 2010. ♦ The highest earners live in the North Central ($257k) and Great Lakes ($258k) regions. ♦ The lowest earners live in the Mid-Atlantic ($240k) and Northeast ($239k) regions. ♦ Almost a quarter of physicians (24%) participated in an Accountable Care Organization, compared with 16% in 2012 and only 3% in 2011. ♦ About 25% of responders said they would drop insurers that pay poorly, while 39% said they would not. Interestingly, in the satisfaction portion of the survey, top earners (plastic surgeons, surgeons, orthopedists, radiologists, and anesthesiologists) were the least likely to...
Oncologist Compensation Report 2013

Oncologist Compensation Report 2013

Nearly 22,000 physicians across 25 specialty areas participated in Medscape’s third physician compensation report.  Data collected among oncologists surveyed found that oncology was the 10th highest ranked specialty, with a mean income of $278,000 (click here to view the average income by specialty). Orthopedics ($405,000), Cardiology ($357,000), Radiology ($349,000), Gastroenterology ($342,000), Urology ($340,000), Anesthesiology ($337,000), Plastic Surgery ($317,000), Dermatology ($306,000), and General Surgery ($279,000) ranked above Oncology. Ten percent of oncologists earn $500,000 per year or more, and 14% earn $100,000 per year or less. From 2011-2012, 46% of oncologists said that their compensation remained the same. Oncologists in the Southwest earn the highest compensation ($347,000), compared to the Northeast, which earns the lowest compensation ($230,000): Source: Medscape Other highlights from Medscape’s report include the following: A significant pay gap continues to exist between full-time male and female physicians. Men earned $293,000 on average, compared to $240,000 for women. 51% of oncologists feel fairly compensated 51% of oncologists would choose medicine as a career if they had to do it all over, while 57% would choose the same specialty. The largest percentage of oncologists (25%) spends 30 to 40 hours per week seeing patients. 25% of oncologists see between 25 and 49 patients per week, and 26% of oncologists see between 50 and 75 patients per week. Due to the nature of the specialty, oncologists spend a considerable amount of time with each patient: 32% spend a mean of 17-20 minutes with each patient, and 27% see patients 21 minutes or longer. 32% of oncologists spend 10-14 hours a week on paperwork and administrative activity (24% spend 5 to 9...

PCPs Make More Money for Hospitals than Specialists

For the first time, primary care physicians (PCPs)–family physicians, general internists, and pediatricians—surpassed specialists in hospital revenue generated, according to a new survey by Merritt Hawkins. This may give PCPs a strong argument to be compensated more by hospitals. Over the past decade, PCP’s generated revenues jumped 23%, whereas specialists’ declined 10%. In 2012, PCPs generated a combined average of $1.57 million for their affiliated hospitals, compared to a combined $1.43 million across 15 specialties, according to more than 100 hospitals chief financial officers in the survey. In 2002, Merritt Hawkins reported that PCPs generated $1.27 million annually for affiliated hospitals, whereas specialists generated $1.59 million. The trend was referred to as a “seismic shift” as healthcare systems shift from specialized medical care to primary care. As more PCPs become employed by hospitals and new delivery models, such as accountable care organizations (ACOs), they are more likely to pass along tests, therapies, and other services “in-house” to their hospital employer rather than outside resources. ACOs also place a premium on lower-cost patient care, which is also likely to increase the revenue generated by primary care. Although PCPs generate the most revenue for hospitals, they are still among the lowest paid specialties. According to the salaries recently released on the 2013 Physician Compensation Report by Medscape, internal medicine, family medicine, and pediatrics fell in the bottom 5 annual salaries....
2013 Physician Compensation Report: Salaries on the Rise

2013 Physician Compensation Report: Salaries on the Rise

Nearly 22,000 physicians across 25 specialty areas participated in Medscape’s third physician compensation report just released. Overall, it appears that physicians’ income is on the rise. This year’s 3 top-earning specialties – orthopedics, cardiology, and radiology – remain the same, although radiology was bumped from being tied for the number-one spot in 2012 to number three: On the opposite end of the scale, pediatrics was replaced as the lowest paid specialty by HIV/ID. Mean compensation for about one-third (8) of the specialties surveyed topped $300,000 annually. Other highlights from the report include: Orthopedic surgeons showed the highest increase. Endocrinologists and oncologists noted a slight decline. Overall, male physicians earn 30% more than women (17% more in primary care). Those with board certification earned significantly more than those without it ($150,000 vs $251,000). The percentage of physicians involved in Accountable Care Organizations increased significantly from 2012, from 8% to 24%. Physicians in the North Central region of the country earn the most ($259,000), while those in the Northeast Region earn the least ($228,000). Compared with 2012, compensation for physicians in solo practice declined ($216,000 vs $220,000), while that of physician employees increased ($220,000 vs $194,000). Click here to view the full Physician Compensation 2013 report by...
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