Physician salaries grew in '08 despite recession

Well, who would have thought it? Despite the fact that the economy tanked in 2008, physician salaries managed a modest increase of 4.4 percent for specialists and 4 percent for primary care physicians, according to new survey research from Sullivan, Cotter and Associates.

The firm's 2008 Physician Compensation and Productivity Survey Report, which drew on surveys of 257 healthcare organizations employing more than 41,000 physicians, found that 72 percent of survey respondents gave their employed physicians salary increases last year. This tracks almost exactly with 2007, when 73 percent reported boosting physician salaries.

The report also noted an increased use of incentive plans, with payouts tied to quality measures, and a drop in compensation tied to work Relative Value Units. Seventy percent reported using incentive compensation, up from 60 percent in 2005, with productivity being the most common factor used to determine payouts.

To get more data from the study:
- read this Healthcare Finance News article [1]

Related Articles:
HFMA ANI 2008: Estimating Fair Market Value for physician pay [2]
Specialty physician compensation barely keeps up with inflation [3]
Cleveland Clinic announces hiring and salary freeze [4]