Source: Beckers Hopsital Review
“Physician compensation increased 5.1 percent on average nationwide in 2017, yet a few major metropolitan areas saw declines as great as nine percent, according to research compiled by Doximity.
The study gathered data from 12,000 physician jobs posted in 2016 and 2017 on Doximity, the largest social network for physicians and advanced practice clinicians.
Doximity analyzed data on 20 metropolitan statistical areas and 15 medical specialties based on the number of job postings on the network in 2016.
To determine compensation decline, Doximity used its network’s self-reported compensation surveys of about 40,000 full-time, licensed U.S. physicians who practiced at least 40 hours per week between 2016 and 2017.
Although the study did not explore why compensation declined, the authors note recent changes in the market that could have affected physician pay. These changes include a mix of insurer exits in the ACA exchange, accountable care organizations that influence physician revenue, hospitals buying physician practices and growing insurers negotiating more strongly.”
Here are the five metro areas where physicians saw a decrease in pay, with compensation decline by percentage.
1. Phoenix (9 percent decrease)
2. Columbus, Ohio (8 percent decrease)
3. Denver (3 percent decrease)
4. Las Vegas (3 percent decrease)
5. Houston (1 percent decrease)
If you’re struggling with a decline in your reimbursements, contact Genesis today for a free Billing & A/R Analysis, and see if you qualify for the Genesis 10 Guarantee! WE GUARANTEE AN MINIMUM INCREASE OF AT LEAST 10% TO YOUR COLLECTIONS WITHIN 6 MONTHS, OR WE’LL COVER YOUR MONTHLY INVOICE UNTIL WE ACHIEVE IT.