Planning for Inflation
Where could I find some generic inflation factors for physician salaries, medical supplies, and other expenses such as malpractice insurance?
Question: Where could I find some generic inflation factors for physician salaries, medical supplies, and other expenses such as malpractice insurance?
Answer: According to consultant Ken Hertz, physician salaries tend to be tied to production rather than inflationary issues. They might not go up at all.
In terms of supplies, look at growth rates during the last three years for both volume and pricing.
In terms of malpractice, speak to your carrier. They often can provide a good indication of future increases.