02 Aug Study Shows Minimal Increases in Practice Management Compensation
imagingBiz | Physician groups, radiology groups among them, are executing minimal changes in salaries paid to management staff, according to an annual survey released by the Medical Group Management Association (MGMA).
Entitled “Management Compensation Survey: 2011 Report Based on 2010 Data,” the report indicates that administrators in practices with six or fewer full-time-equivalent (FTE) physicians earned median compensation of $86,459, a slight decrease from 2009. A median compensation of $115,000 was reported for administrators in practices with seven to 25 FTE physicians, representing a mere 0.28% increase from 2009. In larger groups of 26 or more FTE physicians, the median compensation reported was $150,756.
“The generally static compensation of practice management professionals reflects the difficult economic environment faced by medical practices,” asserts MGMA President and CEO William F. Jessee, MD, FACMPE. “Flat or declining revenues in the face of continuing increases in operating costs are forcing many practices to sell or close. For those that are able to survive, compensation levels are generally flat” or only minimally higher than the previous year.
Jessee says the survey does reveal “small growth” in the salaries of some medical practice management professionals. Notably, business service directors reported a median compensation of $88,540 in 2010, equivalent to a 5.7% increase from the previous year. Branch/satellite clinic managers also experienced a modest increase in their median compensation, which rose by 2.57% , to $57,510.
Meanwhile, marketing and communications specialists saw a median compensation of $49,262. This amounts to an increase of 0.74% over the median compensation reported for 2009.
Information contained in the report was based on data collected from 7,240 managers in 1,287 medical practices
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