Over the past 10 years, compensation of academic practices has continued to trail that of private practices, the survey found. As an example, compensation for academic primary-care physicians in 2008 averaged $153,713 vs. $186,044 for primary-care doctors in private settings, or 21% higher. During the same time period, specialists in academic practices earned about $230,000 in 2008, nearly one-third less than the average compensation of nearly $340,000 paid to specialists in private practices.
“The economics of academic medicine are that teaching and research activities are not reimbursed in the same manner as in clinical practice,” said Billy Newton, vice dean for finance and resource planning at Duke University School of Medicine, in a written statement, responding to the survey's findings. “The private practicing physician typically produces more patient-care revenue than the academic physician, whose role also includes teaching, research and other administrative efforts,” said Newton, an MGMA member who serves on its survey advisory committee.
MGMA collected 581 surveys for its research, which included 19,048 responding academic faculty and 2,191 responding managers.
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