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Physician Salary Outlook for 2014

Physician Salary Outlook for 2014
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best-paying-jobs.1.95258564While physicians across all organizations are projected to see median salary increases for 2013, primary care salaries are projected to see a 2.5% increase, compared to a 2.3% increase among specialists, according to a recent report by the Hay Group. The report covered 132 physician specialties and 35 non-physician provider positions.

The growth is even greater for primary care physicians in hospital-based settings, who are expected to see a 2.6% increase (while specialists are likely to see a 2.3% increase for the second year in a row).

Hospital-based specialists can expect a 2% salary increase in 2013, while group-based physician specialists can expect a 3% salary increase.

Similar surveys have attributed this surge in salaries to the shortage of primary care physicians and their increased demand in anticipation of the Affordable Care Act implementation.

“As the Affordable Care Act is fully implemented, primary care physicians will become more critical than ever to the viability of the healthcare system,” said Jim Otto, senior principal in Hay Group’s Healthcare Practice. “Given the growing shortage of primary care physicians and the expected increase in demand from patients seeking care, we expect to see salary increases for primary care physicians trend upward over the coming years as employers vie for the best talent.”

Additionally, the 2013 Hay Group study found that the prevalence of annual incentive plans for physicians remains steady at 63%. The following increases were reported for individual physician performance, compared to 2012.

Patient satisfaction increased 4 % (70% vs 66%)
Quality increased 9 % (86% vs 77%)
Outcomes increased 15% (54% vs 39%)

 

 

2 Comments

  1. There was a time when Physicians and College profesors made about the same income. Then came the high tech stuff, and specialized everything, and the RN’s could do lots of the things that only drs used to do, then the pace increased and the lot got bigger and wider, and the money came rolling.

    Now techs do the same stuff, (do test, ecgs, etc) and there is a need to cut budgets, and just as the College profesors have been getting pay cuts, so are the physicians. The college professors are not even getting tenure and many are cut to part-time to avoid paying them benefits.
    It is a sad thing, and that is followed with a brain drain to other countries that need and value education.

    Reply
  2. My salary went Down 40%for the same amount of work Mostly office based cardiology andC/V imaging.I don’t expect ANY salary increase next year and I know I’m not alone.

    Reply

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