Physician-executive compensation rose 7.5% between 2005 and 2007, with average annual compensation now at $258,000, according to a new survey. In the past decade, physician-executive compensation has jumped 36.6%.
Demand for physician leadership is at an all-time high, as technological advances, industry focus on quality and economic pressures create an increasingly complex healthcare landscape, said Carol Westfall, president of Cejka Search, which conducted the survey with the American College of Physician Executives, in a written statement. Out of the more than 2,000 members of the ACPE who completed the survey, including chief medical officers, medical directors and division chairs, 52% received bonuses. Nine out of 10 of those who received bonuses said the bonuses were up to 30% of total compensation.
Compensation in rural areas was 5% below suburban and urban areas, but grew at twice the rate12.5%of those areas over the past two years. Physician-executives in corporate offices had the highest annual compensation ($325,000) while those working for the government had the lowest ($180,000). -- by Rebecca Vesely