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Survey: Physicians Generated More Revenue in 2015 Than in 2013

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A recent survey found that PCPs “generate $1.4 million in revenues for their hospitals, about 7.5 times the value of their compensation,” John Commins reports over at HealthLeaders Media. “…Physician specialists continue to generate the most money for their hospitals, but primary-care doctors still provide more bang for the buck.”

In 2015, the average orthopedic surgeon earned $497,000, and the hospitals brought in $2.7 million from their services or 5.5. times the orthopedic surgeon’s annual salary. In 2015, the average family physician earned $198,000; the hospitals brought in $1.4 million on average from their services or 7.5 times the $198,000 salary, Commins writes. Net revenue from family physicians averaged $1.5 million for their hospitals.

Neurosurgeons and invasive cardiologists each brought in an average of $2.44 million for their hospitals; general surgeons attracted $2.1 million in revenue; and general internists benefited their organizations to the tune of $1.8 million.

According to the survey, overall revenue across all medical specialties jumped from $1.44 million in 2013 to $1.56 million in 2015. “Revenue generated by 11 of the 18 medical specialties increased in 2015 when compared to 2013,” the article observed.

According to Commins, the survey included “both net inpatient and outpatient revenue from patient referrals, tests, prescriptions, and procedures performed or ordered in the hospital” in their final analysis, with the researchers concluding that “the fact that inpatient/outpatient revenues in 2015 were up from the 2013 survey ‘is pretty telling,’ and in sharp contrast to the nationwide push for preventative medicine and reduced utilization.”

Furthermore, this data “is counter to a lot of the rhetoric you hear in healthcare,” the surveyors told Commins. “Net inpatient/outpatient numbers should be declining at a huge rate, and the reality is they didn't. They went up. That shows that doctors remain the engine of our healthcare economics. There are no two ways about it. The fundamentals of our economics in healthcare have not changed and people need to understand that.

“That doesn't mean we aren't taking steps in the right direction around preventative care. Our continuum of care is the best it's ever been and really trying to curb readmissions. We have done an admirable job. We are looking at volumes in hospitals that we have never seen before. Specifically, if you look at the numbers around specialists, that is the most telling. With the rate that Baby Boomers are hitting our systems, it would have been foolish to think these numbers would go down no matter how great a job we're doing.”

As physicians and advanced practitioners who are looking for jobs, what does this data tell you about the state of the healthcare industry? How does seeing hard data on the revenue your specialty generates for hospitals influence your expectations for the compensation and benefits package at your next job?

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