Balancing Compensation and Culture for the Right Fit takes a look at compensation trends, quality of practice, quality of life, practice location, and how they contribute to culture and fit.
Balancing Compensation and Culture for the Right Fit
Finding the Right Fit
Comp – Quality of Practice – Location – Quality of Life
MGMA Data – Most Used Benchmarks
- Compensation: Total compensation reported on the W2
- Work RVUs: Reflect the relative time and intensity associated with furnishing a Medicare PFS service
- Compensation to Work RVU Ration: Total compensation divided by the Work RVUs
Key Trends in the 2018 MGMA Provider Compensation Data
Primary care physicians’ compensation rose by more than 10% of the past five years. Evidence of the worsening primary care physician shortage in the American healthcare system.
Depending on medical specialty, the difference in physician compensation between the highest-paid state and the lowest-paid state ranges between $100,000 and nearly $270,000.
Over the past five years, overall nonphysician provider compensation has increased at a rate of 8%. Looking at the changes over the past 10 years, the rate has doubled to 17%.
Successfully Benchmarking Compensation
Filter the data to get the most relevant data to compare again.
Ensure you are looking at the correct group of physicians