The New England Journal of Medicine has published an article tracking the direct impact physicians provide to a hospital financially. The survey examines revenue generated from direct hospital admissions, procedures, tests, and treatments in a variety of specialties.
The survey suggests physician recruiting can generate a positive return on investment, thereby ensuring that hospitals have the resources they need to provide quality care to the communities they serve.
However community need still needs to be determined in specific areas to ensure the incoming physicians will be busy enough. At our physician recruiting firm we work with many specialists and highly specialized physicians; a hospital just looking at the bottom line revenue of a certain specialty needs to consider competition in the community and determine what the demand is in their specific area to ensure the physician's success and therefore the revenue to the facility.
The average net revenue generated by all medical specialties was up slightly in 2010 over 2007. In 2010 the average net revenue is $1,543,788 and in 2007 it was $1,496,432.
The growing alignment of physicians and hospitals, often through hospital employment of physicians, may be an additional reason why overall average revenue generated by physicians for hospitals remained steady despite the recession. As physicians and hospitals become more aligned, revenue is more likely to flow to hospitals and less likely to flow to physician-owned surgery centers and other facilities.
Read the full article at The New England Journal of Medicine, or click here:
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