The 2016 Physician Compensation Survey Report includes in-depth insight into what the nation’s physicians are being paid for their work.
Physicians Practice has released the complete results to its annual survey of doctor pay in the 2016 Physician Compensation Survey Report.
This year's survey included the responses of 1,095 physician respondents across multiple specialties on how much they bring home in income. According to the survey, 19.5 percent of physicians earn between $200,001 and $250,000 in income; 14.5 percent brought in more than $450,001; and 13.1 percent made between $250,001 and $300,000. Overall, 40 percent of respondents said their income was the same as last year, while 28.7 said it went down, and 31.8 percent said it went up.
The 2016 data indicate practice overhead is on the rise. More than 40 percent of respondents say the cost of overhead is between 41 percent to 60 percent of their revenue, up from 32.4 percent from last year. Furthermore, 32 percent said that the cost of overhead was greater for them than it was last year.
Also included in the results are looks at how physician income will be affected by:
• Physician plans for the next year;
• The impact of high-deductible health plans on physician earning;
• Ties to patient satisfaction and value-based measures; and
• Changes in Medicare reimbursement.
The Physician Compensation Survey Report not only includes the entire physician compensation survey, but original features on income trends related to the results of the survey.
Click below to view the entire report.