Physician practices, hurt by dwindling reimbursement rates and slowed growth in the healthcare sector, are faced with yet another reality of today's economy: a tight labor market. Just like any other employer, physicians are finding they must offer competitive salaries and benefit packages to recruit and reward quality workers.
Consulting firm The Health Care Group surveyed 1,200 physician practices nationwide and found that staff salaries should grow by 2.7% to 5.3% in 2001 even as the economy cools. That's higher than last year's range of 2.6% to 5.1%, suggesting that physicians recognize more and more that happy employees are productive employees.
See the print magazine for the following salary charts:
- Administrator or executive director
- Business manager
- Nurse practitioner
- Physician's assistant
- Benefits provided by practice to employees, 2000
- Salary reviews