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Contact:
Karolyn Raphael
Winger & Associates, Ltd.
312/494-0422
Karolyn@wingerandassociates.com
Specialty Physicians' Total Cash Compensation Rises-2005 Physician Compensation and Productivity Survey Released by Sullivan, Cotter and Associates, Inc.
(CHICAGO, September 30, 2005) - Sullivan, Cotter and Associates, Inc. has published its 2005 Physician Compensation and Productivity Survey report, the industry standard now in its thirteenth edition. This year, 234 organizations participated in the survey which includes data for 29,852 physicians in 149 specialties, as well as PhDs, mid-level providers, and medical group executives. The survey report outlines: base salary, total cash compensation and productivity by physician level; pay practices; incentive compensation; physician benefits and perquisites; resident compensation; hourly rates and much more.
Notable data from the survey show an increase in total cash compensation for certain specialty physicians. Double-digit increases were seen in dermatology (18.7%), cardiology (15.7%), anesthesiology (15.4%), radiology (14.4%), and radiation therapy (12.8%).*
“Compensation paid to part-time medical directors continues to be a hot issue for healthcare organizations,” notes Kim Mobley, principal, Sullivan, Cotter and Associates. “While there is certainly a median rate, when analyzed by specialty, there is a significant amount of variance in rates paid.” According to the survey, the median rate paid to a part-time medical director, regardless of specialty is $125 per hour.
The survey report also indicates that average salary increases for physicians in 2004 were up slightly, with a 4.5% increase for specialists and a 4.1% increase for primary care physicians. These figures are up following a number of years in which average physician salary increases were below the 4.0% mark.
The survey report also reveals that on-call pay is provided to at least some physicians by 40% of the organizations surveyed. Most often, call pay is provided to surgeons in the neuro, orthopedic and trauma subspecialties. The hourly rates paid for unrestricted call in these specialties range from $27.06 to $41.67.
The 2005 Physician Compensation and Productivity Survey report is now available for purchase. The cost to healthcare organizations agreeing to participate in next year’s survey is $450, and for those not wishing to participate, the cost is $1,200. For all other types of organizations, the cost is $2,500. A CD containing the survey data tables is also available for purchase by the organizations which purchase the survey. To order a copy of the survey please visit the SullivanCotter website at www.sullivancotter.com or contact Janis D’Annunzio, survey coordinator, at 313/872-1760 or email janisd@sullivancotter.com.
Sullivan, Cotter and Associates, Inc. specializes in the development and implementation of strategic total compensation and reward programs and helps organizations with specific compensation needs. Since 1992, SullivanCotter’s innovative yet practical compensation solutions create tremendous value for the organizations it serves. As a leader in benchmarking, trends, and analyses, SullivanCotter has developed some of the top national compensation and productivity surveys in the United States. Sullivan, Cotter and Associates, Inc. has offices in Atlanta, Chicago, Detroit, New York City, Parsippany, and Westport. For more information, visit www.sullivancotter.com or call 888/739-7039 toll-free.
*Sullivan, Cotter and Associates cautions that these data are not based on cohort samples.
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