With the current trend heading towards more hospital employment for physicians, what does this mean for physician's salaries? Hospital employment typically provides more stability in an uncertain market, however how will this trend affect the physician's salaries and compensation packages?
SullivanCotter and Associates' 2011 Physician Compensation and Productivity Survey recently gathered data from more than 60,000 physicians, residents, mid-level providers and medical group executives.
According to the survey, here are 5 trends consistent with today's physician salaries and starting compensation packages:
1. Economics don't support significant increases in physician salary.
2. On-call pay is rising.
3. Different pay models are forming based on physician.
4. Sign-on bonuses favor specialists.
5. Relocation packages are increasing.
With these uncertain economic times and also the healthcare compensation industry heading for significant changes it is more important than ever to negotiate your starting compensation package based on your long term goals; not only the salary but also location, quality of life, long-term advancement potential, and running your personal practice the way you trained for and envisioned.
Read the full article in Becker's Hospital Review, or click here:
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