By Lauren Judd M.B.A., Department Manager, Office of Physician Recruitment, Cleveland Clinic
ASPR recently partnered with MDLinx on a survey that gathered data on physician compensation, benefits and recruitment incentives. The objective of the survey was to collect timely industry data and determine if differences among these items exist between physician specialties and employment settings.
An Internet survey was conducted among 314 US physicians in January 2014. A total of 26 specialties participated in the survey, including primary care, specialty care and surgical care. One hundred physicians from each category (primary care, specialty care and surgical care) were surveyed, as well as 14 physicians who work in administrative roles. The survey collected responses from physicians at various levels of experience from many different types of practice settings and populations. Following is a summary of some of the survey findings.
- Most physicians surveyed are satisfied with their compensation package - 29% are very satisfied and 47% are somewhat satisfied.
- The most popular compensation model reported for physicians in a hospital or university setting is a straight salary.
- Bonuses are still a major component of physician compensation with 66% of all physicians surveyed reporting they receive a bonus.
- Physicians generally do not receive additional compensation for participating in call for the Emergency Department, or for their practice. Roughly 75% of physicians reported they are not paid to take call, regardless of the practice setting.
- Hospital employed physicians generally receive a richer benefits package than those in private practice or academic settings.
- Overall, 32% of all physicians surveyed receive no financial assistance for CME. Private physicians are less likely to receive CME benefits than their counterparts in hospital or university settings.
- The most common amount provided for CME ranges between $1,000 to $2,999 per year, regardless of employment setting and specialty type.
- Overall, 45% of physicians surveyed receive no time off for CME activities.
- Seventy-five percent of physicians surveyed receive between 2 and 6 weeks of vacation but 56% receive no sick time and 78% receive 6 or fewer holidays per year.
- The most common professional fees reimbursed by employers are DEA, medical licensure and board certification exam fees.
- Twenty-five percent of physicians surveyed received a signing bonus; the most common amount granted was between $10,000 and $20,000.
- Fifty percent of hospital employed and 44% of university employed physicians received relocation assistance whereas only 28% in private practice did.
- Less than 10% of physicians surveyed received loan assistance from their employer.
- Seventy-three percent of physicians surveyed received malpractice insurance assistance.
- Of the physicians surveyed, 11% of work time is spent on administrative duties (such as medical record documentation, chart reviews, etc.).
- Sixty-five percent reported having no time built into their schedules for administrative duties.
- Sixty percent indicated they have no options for a flexible work schedule.
- Fifty percent of all physicians surveyed have restrictive covenants.
- Most of the restrictive covenants (86%) are applicable for a period between 1 and 3 years and cover a distance between 5 and 30 miles (76%).
- Most of the restrictions pertained to a primary location or any location where the physician saw patients.
Advanced practice provider (APP) responsibilties
- Forty-three percent of physicians do not supervise APP’s and of those who do, nearly half are not compensated for these responsibilities.
- Physicians in hospital or academic settings are far less likely to receive compensation to supervise APP’s with 58% of hospital employed and 69% of university employed physicians receiving no compensation.
- For those physicians who did receive compensation for APP supervision, amounts varied from under $500 to more than $2,000 annually.
The full report includes additional breakdowns of this data by employment setting and specialty along with a multitude of tables and graphs. The full report is available on our website in the Industry Data section.
A comparable survey was conducted of in-house physician recruitment professionals that asked similar questions about physician compensation, benefits and recruitment incentives. ASPR plans to compare and contrast the findings of that survey with the findings of this one.
Other industry surveys will be conducted throughout the year to gather information on recruitment processes and other key industry benchmarks. We hope you’ll be able to utilize the data from these surveys to serve as an industry expert and resource to your administration and to improve recruitment processes within your organization.