Quantcast
Business Resources
by Category








Try our "Virtual Buyers Guide!"
-flip through the pages!
-search by keyword!
-download to your desktop!
-forward to a colleague!
< Home  < Articles  < Article Details

 
 
Finance: How Does Your Pay Stack Up?
For a second year, we take a look at income, job satisfaction, and the future of primary care
By Shirley Grace

That feeling can go both ways. A specialist is essentially a diagnostic expert in a particular subject — a scientist. Very valuable for illness, but potentially less so for patient interaction. “Many specialists don’t spend a lot of time with patients,” says Mosley. “Radiologists are now in another year of residency because they’d say to the patient, ‘You have a cancerous mass’ and walk away.’”

Patient interaction is, of course, the bailiwick of primary-care physicians. “A primary-care doctor will say, ‘How are you feeling? Are you doing better?’” says Mosley. He likens such physicians to priests, noting that most feel called to the profession and provide more than just clinical care. They embrace the philosophy that a person is more than the sum of his illnesses. But today’s business model precludes them from offering what patients both need and want.

But if nothing else, our survey shows a reawakening of spirit among primary-care physicians. If perception has not quite caught up with reality, it soon will. “It’s like a gangly kid who’s changed into a beautiful young adult — they may not know their value yet,” says Mosley.



Or at least, they’ve forgotten because through it all their focus has remained on their patients.

“I love my patients and being part of the medical community,” says Rosenstock. “The only thing I would say I’m frustrated and dissatisfied with is the pressure I’m faced with, having to see more patients and having to take good care of my patients at the same time. It eats on you, and you’re sacrificing something.”

“But,” she says, qualifying her situation, “most people have a significant level of frustration with their jobs. I don’t think mine’s more. Maybe even less.”

Shirley Grace, senior writer for Physicians Practice, holds an MA in nonfiction writing from The Johns Hopkins University. Her articles have appeared in numerous publications, including The Washington Post and Notre Dame Business magazine. She can be reached at sgrace@physicianspractice.com.

This article originally appeared in the October 2007 issue of
Physicians Practice.


Additional Resources
View more articles from the October 2007 issue

View more articles related to Finance

 
 


 

Home | Contact Us | Subscribe  | Site Map | Disclaimer | Privacy Policy | Change Zip Code
CancerNetwork | ConsultantLive | Diagnostic Imaging | Psychiatric Times
 SearchMedica

 Subscribe to Physicians Practice RSS

Connect with Physicians Practice on

           

Copyright © 2010 UBM Medica LLC,, a United Business Media company.
 
ADDITIONAL ONLINE RESOURCES FROM UBM MEDICA
Featured Resources > Pediatric Asthma > ASCO Conference Report > APA Conference Report > Consumer Healthcare Information > Patient and Caregiver Resource
CancerNetwork > Cancer diagnosis, treatment, and prevention > Podcasts for Oncologists > Cancer Patient Resources > Oncology Areas of Confusion > Oncology News > Cancer Management Handbook > Oncology E-Learning > Oncology Practice Management
Consultant Live > Practical Clinical Advice > Medical Photoclinic > Diagnosing and Treating H1N1 flu (swine flu) > Primary Care Conference Reports > Primary Care CME
Diagnostic Imaging > Medical Imaging News and Features > Medical Imaging and Radiology White Papers > Radiology Conference Reports > Radiology Special Reports > Radiology Careers > Radiology Net Seminars > Imaging Trends and Advances > CT Dose Issues and Articles > Molecular Imaging Articles
Psychiatric Times > Psychiatry Careers > Psychiatric News and Special Reports > Psychiatric Clinical Scales > Psychiatric Times Blog > Psychiatry Career Opportunities > Psychiatry CME > DSM-V
Physicians Practice > Practice Management > Practice Management Webinars > Medical Buyers Guide > Medical Coding > Practice Management Tools > Practice Management Podcasts > Today's Practice - Practice Management Resource
SearchMedica > Professional Medical Search > Medical Search Tips Newsletter > Medical Search News



 
 
-- Advertisement --


In Summary
Our new physician compensation survey reveals that:

  • The average salary jumped 11 percent to $161,000.

  • Sixty-two percent of respondents said overhead was more than half of practice revenues — a 12 percent increase from the year before.

  • Only 8.7 percent characterize their incomes as “excellent;” 58.5 percent say they’re “disappointed.”

  • Forty percent of primary-care physicians believe primary care will continue to play a vital role in healthcare in the U.S.; less than 14 percent believe it will disappear.

  • Fifty-three percent of today’s graduating physicians are women, many of whom choose to work part-time.

  • A sizeable 28.1 percent of surveyed physicians expressed consternation that nonphysician providers will “take over” primary care.

  • If given the chance to do it all over again, sixty percent of current primary-care physicians would beg off of their current career choices, and either become a specialist or leave medicine altogether.

  • Career satisfaction shows an overall step-down in the “very satisfied” category, from 24.3 percent to 18.3 percent, with a corresponding rise in the “very dissatisfied” column.

  • Between April 1, 2006, and March 31, 2007, the recruiting firm Merritt, Hawkins tallied 639 client requests for generalists — more than any other specialty, and nearly double the number in 2003.

  • Less than 15 percent of surveyed physicians see themselves as equal partners with specialists; the “2nd class citizen” category crossed the halfway mark at 53.6 percent.

  •  
    Read More About It
    See these related Physicians Practice articles and tools to help you better assess your financial situation:

  • Read last year’s article on primary-care physician compensation “What’s in Your Wallet?”

  • Download the form, “Measure the Financial Health of Your Practice.”

  • Read “Know Your Business” for more tips on controlling your practice’s costs.