This document discusses physician compensation models and the relationship between physician revenue, expenses, and pay. It provides information on basic compensation models, including production or RVU-based models. It emphasizes the importance of understanding physician productivity metrics like RVUs, patient encounters, and collections in order to negotiate compensation. Data from industry surveys on metrics like RVUs, encounters, and compensation by specialty are presented to facilitate understanding of compensation structures.
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How are physicians paid?
1.
2. Understand
The relationship of physician revenue to pay
The relationship of practice expenses to pay
Become familiar with
Basic physician compensation models
Physician productivity
19. Cases/Patient Visits
Collections for medical services
Relative Value Units (RVUs)
Arbitrary units set by Medicare for the value of
healthcare services
22. You need to know a few facts about your
specialty
Workload (patients/cases per year)
RVUs
Collections
Unfortunately, you will not find these answers
in PubMed or UpToDate.
23. Medical Group Management Association
$730 for non-members
Annual survey of over 60,000 physicians
Used by many practices to develop
compensation models
27. Specialty Mean RVUs 25th % Median 75th %
Family Medicine 4,962 2,776 3,804 4,835
Internal Medicine 4,999 2,883 3,774 4,705
Hospitalist (IM) 4,461 2,236 3,209 4,298
MGMA Survey, 2013
Distributions skewed towards higher RVUs
28. Specialty Mean 25th % Median 75th %
Family Medicine 4,295 2,238 3,009 3,920
Internal Medicine 3,645 1,854 2,542 3,402
Hospitalist (IM) 2,413 1,038 1,586 2,219
MGMA Survey, 2013
Distributions skewed towards higher Patient Encounters per Year
29. Specialty Mean 25th % Median 75th %
Family Medicine $226,000 $142,000 $170,000 $207,000
Internal Medicine $225,000 $148,000 $178,000 $224,000
Hospitalist (IM) $253,000 $183,000 $211,000 $240,000
MGMA Survey, 2013
Distributions skewed towards higher Compensation