Articles related to SALARY/COMPENSATION

Physician salaries in 2023 have increased across all specialties, with primary care physicians earning an average of $265,000 and specialists earning $382,000. The highest-paying specialties include plastic surgery, orthopedics, cardiology, urology, gastroenterology, otolaryngology, radiology, oncology, anesthesiology, and dermatology, while the lowest-paying specialties are public health and preventive medicine, pediatrics, family medicine, infectious disease, diabetes & endocrinology, internal medicine, rheumatology, allergy & immunology, physical medicine & rehab, and psychiatry. The gender pay gap persists but is starting to narrow, with male primary care physicians earning 19% more than their female counterparts, and the gap for specialists being 27%. Despite ongoing challenges such as staffing shortages, reimbursement pressures, and administrative burdens, the majority of doctors (73%) express satisfaction in their profession and highlight the rewards of being skilled practitioners, fostering patient relationships, and making a positive impact on the world.

The Merit-Based Incentive Payment System (MIPS) is a program that ties Medicare payments to the quality of care provided by physicians. In recent years, the weight of cost measures in MIPS has increased, which could disproportionately penalize oncologists. A study published in JCO Oncology Practice found that the recent increase in the weight of cost measures, combined with lower cost scores, will likely result in lower composite MIPS scores, fewer total payment bonuses, and greater negative payment adjustments for oncologists. In non-oncologists, the maximum penalty decreased from $8,262.82 in 2018 to $7,473.57 in 2022. This suggests that oncologists are more likely to be penalized under the current MIPS scoring system. The researchers who conducted the study believe that the current paradigm of the MIPS scoring system will financially penalize heterogeneous and complex care-driven specialties such as oncology. They recommend that policymakers monitor whether the potential loss in revenue results in altered practice patterns and varying degrees of health care quality for patients with cancer.

Orthopedic surgeon Dr. Ahmed Siddiqi wanted to find a better approach to postoperative monitoring – one that came closer to direct, continuous visibility of patient progress during recovery – while reducing the burden on patients and the management team. His new digital care solution enabled his team to provide long-term remote patient monitoring while directly communicating with all patients. The platform’s remote therapeutic monitoring (RTM) module helps the team meet the minimum engagement and data submission requirements to be eligible for RTM coverage.

There is excellent news in the upcoming Medscape Female Physician Compensation Report for 2022. Female primary care and specialist physicians had pay increases of 8.1% and 8.5% from the prior year, respectively. This has resulted in a 2% reduction in the pay difference between men and women in both situations. Despite the fact that this is progress, there is still a huge 25% disparity in primary care and 31% in specialties, with female doctors underrepresented in the higher paying specialties.

The author explains that a nursing strike can have a significant impact on oncology practices, which rely heavily on nursing staff for patient care. The article suggests that practices should have a contingency plan in place in the event of a strike, including identifying alternative sources of nursing staff, communicating with patients about the potential impact on their care, and ensuring that all staff members are trained on how to handle the situation. The article also emphasizes the importance of maintaining a respectful and open dialogue with nursing staff throughout the negotiation process to minimize the likelihood of a strike.

Hospitalist pay is up almost 8% since 2020. But is that enough? You can work to increase your compensation by understanding the nuances in your hospital’s incentive calculation and making sure the plan works for you.