Academic Salaries: Compensation Models

[guavalicious]

From what I've read on SDN and elsewhere online, salaries for academic physicians generally seem to be lower than what one might expect to earn in private practice (except for department heads, etc). However, looking at publicly available salary information for physicians at a large public university's health system, I've seen a huge range. For example, some doctors are making $120-$150k, while at the extreme other end of the spectrum, I found a gastroenterologist whose reported earnings were $1.2 million, all at the same institution (both associate professors, although I don't think the physicians in the lower salary range are specialists). Physician salaries varied widely within this range, but there were surprisingly many salaries listed above $400k.

Are there compensation models in academic medicine in which physicians are paid a base salary, and then they are paid "extra" for revenue they bring in from their clinical activities (seeing patients, performing procedures, etc.)? If that's the case, is "the sky the limit"? How are these doctors bringing in such massive salaries?

---

Members don't see this ad.

 

[P Diddy]

Are there compensation models in academic medicine in which physicians are paid a base salary, and then they are paid "extra" for revenue they bring in from their clinical activities (seeing patients, performing procedures, etc.)?

Yes.

p diddy

 

[guavalicious]

Yes.

Could you elaborate on how this might work?

 

[gutonc]

Could you elaborate on how this might work?

- RVU based bonus system (work more, bill more, make more)
- Endowed professorship (schmooze more, get some rich person to donate money to endow a chair, make more)
- Pharma ***** (self explanatory)

 

[IMPD]

Since ProPublica made Drug Company compensation public, I've been reviewing the monies made by the big time drug docs in our town. It's astonishing. One guy makes about 300k for his work promoting drugs to other docs. Looking at his payment schedule, it's clear he is visiting offices probably 4-5 days during the work week. Down-side, loss of self-respect.

The endowed Chair money is much harder work, and there is a lot less of it. Down-side, being in charge of academic docs.

Billing and RVU churn depends on your endurance and efficiency, mostly. Also, brute force can work with this. Down-side, never go home.

 

[guavalicious]

Since ProPublica made Drug Company compensation public, I've been reviewing the monies made by the big time drug docs in our town. It's astonishing. One guy makes about 300k for his work promoting drugs to other docs. Looking at his payment schedule, it's clear he is visiting offices probably 4-5 days during the work week. Down-side, loss of self-respect.

The endowed Chair money is much harder work, and there is a lot less of it. Down-side, being in charge of academic docs.

Billing and RVU churn depends on your endurance and efficiency, mostly. Also, brute force can work with this. Down-side, never go home.

Thanks for all this info! I feel like the RVU option is the most attractive. If this doctor is pulling in $1.2 million on a base salary in the $100-$150k range, he's probably working insane hours. I've always heard that academic medicine can often mean lower pay...but depending on the compensation/bonus structure, I guess that's not always true!