Demand for Family Physicians Fuels Salary, Compensation Increases, Study Finds

[deleted87716]

Demand for Family Physicians Fuels Salary, Compensation Increases, Study Finds

http://www.aafp.org/news-now/practice-professional-issues/20130709mgmacompensation.html?sf14814495=1

Median first-year guaranteed compensation for family physicians who do not practice obstetrics jumped by $7,000 between 2011 and 2012, from $163,000 to $170,000. This increase was driven in large part by a greater demand for family physicians, according to a recent survey(www.mgma.com) released by MGMA (formerly, the Medical Group Management Association).

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[psychMDhopefully]

A lot of the FM residents here are signing for 240k+, and getting stipends while still in residency. I have a question, if FM is being taken over by mid levels, why is demand high for FM doctors? I don't see any other field where the residents are being recruited this heavily.

 

[VA Hopeful Dr]

A lot of the FM residents here are signing for 240k+, and getting stipends while still in residency. I have a question, if FM is being taken over by mid levels, why is demand high for FM doctors? I don't see any other field where the residents are being recruited this heavily.

What practicing family doctor told you the field is being taken over by mid levels?

 

[SLC]

I'm in the process of signing a contract now with a base in the mid 200's plus productivity.

When you tack on loan repayment and other benefits the compensation is near $300k annually before productivity.

I also get a residency stipend and signing bonus.

I'm thrilled with the prospects I've seen out there!

 

[simpler2]

I wonder how long this can continue with change in reimbursement rates or how care is reimbursed? My organization has been having steady losses for 2 years now and FP salaries are at the lowest end of the spectrum (started about the same time we implemented EHR =). The only folks that seem to be doing well around here are the quick care patient mills. Its hard to compete with a place that only sees acute care BS but bills at the same rate we do for providing complex care of chronic conditions and free phone care on the side.

 

[FrustratedFamDoc]

It would be interesting to see what the average 3rd and 4th year incomes are for recently minted family docs after the teaser salary disappears (mine did in 2 years). I know what happened to mine....

I'd just like to know where all of this money came from all of a sudden to justify these salary increases. Insurance companies certainly aren't coughing up more dough. Secondly, what does the 'the man' expect as far as production to justify your salary?

 

[SLC]

It would be interesting to see what the average 3rd and 4th year incomes are for recently minted family docs after the teaser salary disappears (mine did in 2 years). I know what happened to mine....

I'd just like to know where all of this money came from all of a sudden to justify these salary increases. Insurance companies certainly aren't coughing up more dough. Secondly, what does the 'the man' expect as far as production to justify your salary?

I imagine mine has to do with the rural location of the job I'm taking. That base salary is guaranteed as the lowest I can ever go. I can go higher if I make the productivity numbers to justify it. There are also incredible benefits at this job.

It helps that the organization is exceedingly financially healthy running a couple billion surplus each year which as a Non-profit means they have cash to invest in benefits, increasing physician pay, improving facilities etc.

 

[simpler2]

I imagine mine has to do with the rural location of the job I'm taking. That base salary is guaranteed as the lowest I can ever go. I can go higher if I make the productivity numbers to justify it. There are also incredible benefits at this job.

It helps that the organization is exceedingly financially healthy running a couple billion surplus each year which as a Non-profit means they have cash to invest in benefits, increasing physician pay, improving facilities etc.

I hope the organization is not heavily dependent on rural incentive state/federal payments or depending on excess revenue from specialists. We were getting RHCPA funds that just ended and it hurt our orgs bottom line.

 

[wilberforce72]

Not from what I can gather. It's just one of the best run companies in the nation. Often cited as a top run company in the nation (not just in healthcare).

I wonder...Is it one of the best run companies in the nation, or is it a top run company in the nation? I'd be interested in learning more about this nationally well run company.

 

[SLC]

I wonder...Is it one of the best run companies in the nation, or is it a top run company in the nation? I'd be interested in learning more about this nationally well run company.

It's so good it's both

It's also one of the most well-run companies.

Good grief, I can't talk.

 

[NRAI2001]

Most of the grads from my program last year elected to only work 4 days a week... They were all getting paid about 200k for this... One guy was getting $300k+ but moved to a semi rural area (about 15 mins outside of a large city). A few grads I know moved to mid sized cities and we're making $220-$250 working 9-5, 5 days a week..I m seeing more and more people I know that are in med school switch their interests to FM.

 

[wilberforce72]

Most of the grads from my program last year elected to only work 4 days a week... They were all getting paid about 200k for this... One guy was getting $300k+ but moved to a semi rural area (about 15 mins outside of a large city). A few grads I know moved to mid sized cities and we're making $220-$250 working 9-5, 5 days a week..I m seeing more and more people I know that are in med school switch their interests to FM.

How praytell can someone make $300k right out of residency in such a situation? Is that including weekends at a local Urgent Care/ED?

 

[bronx43]

I wonder how long this can continue with change in reimbursement rates or how care is reimbursed? My organization has been having steady losses for 2 years now and FP salaries are at the lowest end of the spectrum (started about the same time we implemented EHR =). The only folks that seem to be doing well around here are the quick care patient mills. Its hard to compete with a place that only sees acute care BS but bills at the same rate we do for providing complex care of chronic conditions and free phone care on the side.

A lot of the large health care corporations out there are realizing that they have to subsidize primary care in order to provide the referral base for their higher reimbursed services. At my academic institution, they have increased the pay over the past few years for general internists in order to retain them. Especially in cities with multiple large hospital entities, having a deep rooted PCP referral base is crucial.

 

[DaTruMD]

A lot of the large health care corporations out there are realizing that they have to subsidize primary care in order to provide the referral base for their higher reimbursed services. At my academic institution, they have increased the pay over the past few years for general internists in order to retain them. Especially in cities with multiple large hospital entities, having a deep rooted PCP referral base is crucial.

What fellowship are you doing? Just curious.

 

[bronx43]

What fellowship are you doing? Just curious.

Rheumatology.