MGMA: Specialty salary survey outlines compensation tiers

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Specialists practicing in multispecialty practices receive significantly higher first-year compensation compared with specialists practicing in single-specialty practices--differing by more than $18,000, according to this year’s Medical Group Management Association (MGMA) Physician Placement starting salary survey.

Overall, first-year guaranteed compensation for specialists in multispecialty practices was $258,677 compared with $240,596 for those practicing in single-specialty practices, according to the report. In comparison, primary care physicians (PCP) working in single specialty practice earned more than those practicing in multispecialty practices, $172,400 versus $165,000, a difference of 4.5 percent, according to the report.

In addition to guaranteed compensation, physicians also received benefits including sign-on bonuses, loan forgiveness and paid relocation expenses, which MGMA said helped with physician recruitment. In fact, 56 percent of the physicians surveyed reported that they received a sign-on bonus as part of their employment package and 12 percent reported receiving loan forgiveness packages.

However, PCPs were more likely to receive loan forgiveness packages compared with specialty physicians. Meanwhile, 56 percent of physicians were offered relocation packages.

The survey reports the following specialist compensations:

First-Year Post-Residency or Fellowship Compensation
  • Cardiology: Electrophysiology Median: $375,000
  • Cardiology: Invasive Median: $300,000
  • Cardiology: Invasive-Interventional Median: $350,000
  • Cardiology: Noninvasive Median: $325,000

All Physicians First-Year (Excluding First-Year Post-Residency or Fellowship) Compensation
  • Cardiology: Electrophysiology Median: $437,500
  • Cardiology: Invasive Median: $500,000
  • Cardiology: Invasive-Interventional Median: $550,000
  • Cardiology: Noninvasive Median: $400,000

First-Year Post-Residency or Fellowship Compensation
  • Radiology: Diagnostic-Invasive Median: $350,000
  • Radiology: Diagnostic-Noninvasive Median: $288,000

All Physicians First-Year (Excluding First-Year Post-Residency or Fellowship) Compensation
  • Radiology: Diagnostic-Invasive Median: $400,000
  • Radiology: Diagnostic-Noninvasive Median: $350,000

The survey is based on data collected from 4,295 providers, with 1,986 directly out of residency or fellowship. Data are taken from MGMA’s Physician Placement Starting Salary Survey: 2011 Report Based on 2010 Data.