Even in this period of rising expenses and anemic reimbursement levels for medical practices and hospitals, physician executives and many practicing clinicians appear to be doing fairly well, according to the 2003 physician salary survey from Hospital & Healthcare Compensation Service, a research firm owned by John R. Zabka and Associates, Oakland, N.J.
Overall, data on 19,900 physicians suggests that physician salaries slightly outpaced inflation in 2002, growing by nearly 2.6% in a year in which the federal government says consumer prices expanded at a seasonally adjusted annual rate of 2.4%. The poll of 268 healthcare facilities sees salaries for physicians rising at almost 3.7% this year.
The outlook is even brighter for medical directors, who likely will earn 11.4% more in salary and 18.2% in total compensation this year than they did in 2002, the report says. Medical directors and chiefs of staff at group practices continue to make less than their counterparts at hospitals, however.
Click here to see a PDF file of the By the Numbers chart for May 2003.