Physicians in all specialties (including primary care) can expect to see smaller compensation increases in 2012 compared to 2011, but those in group practices won't be hit quite as hard, according to Hay Group's 2011 Physician Compensation Survey released this week.
In particular, the survey predicts physicians across all organizations to get pay increases of 2.5% next year, down from actual increases of 2.7% average in 2011. Physicians working in group practices, while also getting less than last year, are expected to earn slightly higher pay increases of 3.2% in 2012 versus 2.5% for those working in hospital-based settings.
According to the survey, physicians' pay increases, from best to worst, are predicted for 2012 as follows:
Group-based specialist--4.5 percent
Group-based primary care--3.3 percent
Group-based overall--3.2 percent
Hospital-based primary care--2.9 percent
Hospital-based overall--2.5 percent
Hospital-based specialist--2.4 percent
In addition, researchers found that annual incentive plans for physicians were less common in 2011 (64%) than they were in 2010 (69%). Amongst organizations that did pay incentives, amounts continued to be determined based on quality and patient satisfaction.
Read the press release from the Hay Group at Fierce Practice Management by clicking here: http://www.fiercepracticemanagement.com/press_releases/physician-pay-increases-decline-2012-hay-group-study-finds-0?utm_medium=nl&utm_source=internal