The latest installment of the swooping MGMA Physician Compensation and Production Survey: 2013 Report Based on 2012 Data highlights quality and patient satisfaction as measures expected to have a considerable impact on compensation structures in the coming years.
The current data — derived from some 60, 146 physician and non-physician provider experiences — tallies the influence of quality metrics on total compensation at 3 percent for primary care physicians and 2 percent for specialists. Although such numbers are small, and with patient satisfaction scores equally minimal in their effect on overall compensation, the Association prophesizes that “physician compensation will increasingly be tied to these metrics as reimbursement aligns more closely with quality and cost measures.”
“Quality and patient satisfaction metrics are not yet dominant components of physician compensation plans right now, however, as reimbursement models continue to shift, the small changes we’ve observed recently will gain momentum,” said Susan L. Turney, MD, MS, FACMPE, FACP, MGMA-ACMPE president and CEO, in a prepared statement. “It’s encouraging to see physician practices invested in patient-centered care and continuing to seek ways to better incorporate quality and experience into compensation methodologies.”
Meanwhile, median compensation was found to shift from specialty to specialty. Primary care posted at $216,462 in median compensation whereas specialists leveled off at $388,199 (both figures have been adjusted for inflation).
The report and online tool can be used by practice managers and physicians alike to gauge and analyze the following:
- Evaluate physician and non-physician provider performance through peer comparison
- Analyze pay-level factors to assess your compensation system and set realistic provider compensation and production targets
- Estimate the potential impact of adding physicians
- Determine fair market value and assess your compensation methods for compliance
- Create graphs to include in your presentations and export data to Microsoft Excel for further analysis
- Determine key professional traits of managers that influence organizational performance and success
- Understand how different payment methods, experience, education levels and credentials affect management compensation
- Negotiate fair compensation for management positions commensurate with individual qualifications and organizational goals
According to the Association, enhanced navigation as well as the ability to create and customize graphic components, view multiple tables and export tables to desktop programs are all nifty new additions for which the new report is equipped.
The report can be accessed here.