Ortho salary survey

[newankle]

I came across this interesting reading in Medscape. They do not include podiatry. Ortho was tied with radiologists for the top earning spot. In 2011 ortho earned a mean income of $315K, a decline from the previous year. 19% of ortho earned $500K or more. 19% earned $100K or less. Compensation covers salary, bonus, and profit-sharing contributions. 36% had salaries declined, 34% the same, and 30% increased from last year. Those employed by healthcare organizations earned $427K, hospital based $215K, multispecialty group $340K, single specialty group $391K, and solo $256K.

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[NatCh]

I came across this interesting reading in Medscape. They do not include podiatry. Ortho was tied with radiologists for the top earning spot. In 2011 ortho earned a mean income of $315K, a decline from the previous year. 19% of ortho earned $500K or more. 19% earned $100K or less. Compensation covers salary, bonus, and profit-sharing contributions. 36% had salaries declined, 34% the same, and 30% increased from last year. Those employed by healthcare organizations earned $427K, hospital based $215K, multispecialty group $340K, single specialty group $391K, and solo $256K.

How are you interpreting this data? Good? Bad? For our information only?

 

[rkmoto121]

What does it mean to be employed by a healthcare organization?

 

[newankle]

How are you interpreting this data? Good? Bad? For our information only?

Ortho is probably the closest comparison to what we do and the trends seem similar although the actual numbers are different. Take whatever you want from it. What I took away is that compensation is slightly down, there are huge variances in compensation, geography played a role as well as what type of practice they were in. I see the same for pods with those in hospital based or multispecialty groups making more than podiatry groups which make more than small pod groups or solo practices. Growth is essential to absorbing cost and risk. Also the average salary reported was less than what I initially thought for ortho and I think the same is true for pods. I see a lot of similarities. I thought it may spur conversation since there seems to be interest among many in regards to ortho.

 

[newankle]

What does it mean to be employed by a healthcare organization?

I think they are referring to ortho groups bought out by healthcare systems. An example would be a university system buying owning practices like Univ of XYZ and they have multiple hospitals/facilities.

 

[Feli]

I think they are referring to ortho groups bought out by healthcare systems. An example would be a university system buying owning practices like Univ of XYZ and they have multiple hospitals/facilities.

That was my impression also.

Don't you think that there's a little more income that's being written off as non-taxable business expenses and therefore not being directly reported in the private and solo practitioners, though? It makes no sense that all the docs in the ortho groups bought out by hospitals would then make MORE money (maybe the senior/majority partners would do well if they negotiated smart, but the junior partners and associates generally get screwed in those buyouts). If that were the case that every doc's income went up in the hospital buyouts, why would the hospitals buy them? The hospitals would just hire relatively cheap orthos from solo practice or right out of residency and start their own "ortho group." Yes, the hospital wants to garner the well insured pts an established private practice might have, but they also want to make money off the doc's services. If you believe that the hospital run ortho groups are more profitable than the ones run in private practice, then you're really putting a lotta faith in hospitals as practice managers

It's an interesting issue... and why I think you will see more and more super groups of specialists - who are not necessarily in the same practice but still allied for payer negotiations - popping up.

 

[Traum]

Why doesn't Medscape include podiatry. Because it is not an ABMS speciality, nor under the ACGME.

 

[newankle]

Why doesn't Medscape include podiatry. Because it is not an ABMS speciality, nor under the ACGME.

No one asked why podiatry wasn't included.