|
|
 |
| newsroom |
Contact:
Karolyn Raphael
Winger & Associates, Ltd.
312/494-0422
Karolyn@wingerandassociates.com
Some Specialty Physicians' Total Cash Compensation Show Double Digit Increases According to the 2006 Physician Compensation and Productivity Survey Released by Sullivan, Cotter and Associates, Inc.
(Detroit) October 13, 2006 - Sullivan, Cotter and Associates, Inc. has published its 2006 Physician Compensation and Productivity Survey report, the industry standard, now in its fourteenth edition. This year, 264 organizations participated in the survey, which includes data for 37,213 physicians, residents, PhDs, mid-level providers and medical group executives. Data is reported on 151 physician, PhD and mid-level provider specialties and seven medical group executive positions. 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.
While overall physician compensation has remained somewhat stable, notable data from the survey show a double-digit increase in the median total cash compensation levels paid between 2004 and 2006 for nine specialty areas practices. The specialties showing the largest percentage increases were neurosurgery (28.13%); pathology (25.58%); anesthesiology (18.90%); dermatology (18.68%); and radiology (16.88%).
“Caution should be exercised when interpreting the data as the participant sample changes from year to year. However, it is interesting to note that only one surgical specialty, cardiothoracic surgery, showed a decrease over the past two years,” notes Kim Mobley, SullivanCotter principal.
Among primary care specialties, pediatrics showed the largest increase in total cash compensation levels at 13.20%, followed by internal medicine at 7.21%. Interestingly, 15% of the survey participants plan on decreasing the total cash compensation levels for at least some of their physicians in 2006. Decreases to physician total cash compensation levels will primarily be based on physician productivity levels.
This year’s survey report also reveals that 42% of the survey participants provide hiring bonuses to physicians with the average actual hiring bonus for a specialist at $17,239 and the average for a primary care physician at $10,093. Additionally, two-thirds of the survey participants have an incentive compensation program for their physicians with base salaries comprising 92.1% of their total cash compensation.
The 2006 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, while the cost for healthcare organizations not wishing to participate is $1,200. For all other types of organizations, the cost is $2,600. A CD containing the survey data tables is also available for purchase by organizations which purchase the survey. To order a copy of the survey report, visit www.sullivancotter.com or contact Janis D’Annunzio, survey coordinator, at 313-872-1760 or janisd@sullivancotter.com.
Sullivan, Cotter and Associates, Inc. specializes in the development and implementation of strategic total compensation and reward programs for the healthcare industry. SullivanCotter has worked closely with healthcare organization executives, boards and compensation committees to devise innovative compensation solutions that attract and retain leadership talent while satisfying not-for-profit missions and regulatory requirements. A leader in independent consulting, benchmarking, trends and analyses, SullivanCotter has also developed the most widely recognized physician and executive compensation surveys in the United States. SullivanCotter has offices in Atlanta, Chicago, Dallas, Detroit, New York, Parsippany, San Francisco and Westport. For more information, visit www.sullivancotter.com or call 888-739-7039.
Note to media – For more information on the survey or to interview Ms. Mobley, please call Karolyn Raphael at 312-494-0422.
|
|
|
|
resources
