Following the financial impacts that the COVID-19 pandemic left on physician practices in 2020, new research from the Medical Group Management Association (MGMA) reveals that compensation for all physicians is on the rise. The 2022 edition of MGMA DataDive Provider Compensation, which reflects data from more than 192,000 providers across more than 7,700 physician-owned and hospital-owned organizations and academic practices, reveals that compensation for providers varies dramatically by state, physician-owned practices report higher levels of productivity than in previous years, and while COVID-19 has subsided, physician burnout and disruptive patients have not.
Primary care, surgical specialist and nonsurgical specialist physician, and advanced practice provider compensation all increased over the last year. Compensation for most physician specialties saw slight increases between 2019 and 2021 with productivity numbers staying relatively flat over the two-year period.
Additionally, post-residency providers newly hired to a practice in 2021 report earning 7% to 10% more in guaranteed compensation than their counterparts in 2020.
Compensation for providers varies dramatically by state. Primary care physicians in southern and western regions saw a 7.29% increase and 6.28% increase respectively, compared to their counterparts in eastern and midwest regions, who saw a 2.24% and 3.9% increase, respectively. Read more.
