Tuesday, April 30, 2013
QD: News Every Day--Internal medicine sees increased mean earnings over last year
Internal medicine specialists earned a mean of $185,000 last year, a 9% increase created by the shortage of primary care practitioners and the results of health care reform boosting payments for Medicare patients, a report said.
Medscape's Physician Compensation Report: 2013, represents data from nearly 22,000 physicians collected in February 2013.
Physician income is rising overall, with one-third of specialties surveyed earning more than $300,000 annually. This year's three top-earning specialties were orthopedics ($405,000), cardiology ($357,000) and radiology ($349,000).
Overall, men earn 30% more than women; in primary care that gap is 17%. The gap varies by specialty but narrows when physicians work set hours in large health systems.
This year 24% of respondents were either in an ACO or plan to join one, compared to 8% last year.
Physicians working in hospitals earned a mean of $260,000, compared with $225,000 in last year's report, and the income of solo practitioners ($216,000) has declined and is lower than that of employed physicians, who experienced an increase in income ($220,000).
Still, satisfied with compensation is rising for primary care physicians, 51% this year compared to 46% last year and 49% in 2011.
The percentage of physicians in a concierge or cash-only practice increased from 4% to 6%, and 20% of internists offer ancillary services to create cash flow in their practices.
Also among the findings:
--18% of all doctors (22% of internists) spent more than 50 hours a week seeing patients.
--9% of all respondents (and 11% of internists) plan to stop taking new Medicare patients but will continue caring for their current ones, while 2% will no longer treat even their current Medicare patients.
--23% of all physicians will drop insurers who don't reimburse well, while 18% said that dropping poor-paying insurers is not appropriate behavior, and 20% said that they need all payers.
--More primary care physicians would not choose their specialty again compared to some subspecialists. Among internists 19% would not do so, compared to 25% who said last year that they would not.
A second survey, the MGMA Physician Placement Starting Salary Survey: 2013 Report Based on 2012 Data, reported that primary care physicians reported $180,000 in median first-year guaranteed compensation, up from $175,000 in 2011. Practices are increasingly offering signing bonuses, relocation expenses, even additional vacation time, likely to attract new physicians during a shortage of primary care providers.
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Amanda Xi, ACP Medical Student Member, is a first-year medical student at the OUWB School of Medicine, charter class of 2015, in Rochester, Mich., from which she which chronicles her journey through medical training from day 1 of medical school.
Ira S. Nash, MD, FACP, is the senior vice president and executive director of the North Shore-LIJ Medical Group, and a professor of Cardiology and Population Health at Hofstra North Shore-LIJ School of Medicine. He is Board Certified in Internal Medicine and Cardiovascular Diseases and was in the private practice of cardiology before joining the full-time faculty of Massachusetts General Hospital.
Zackary Berger, MD, ACP Member, is a primary care doctor and general internist in the Division of General Internal Medicine at Johns Hopkins. His research interests include doctor-patient communication, bioethics, and systematic reviews.
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Run by three ACP Fellows, this blog ponders vexing issues in infection prevention and control, inside and outside the hospital. Daniel J Diekema, MD, FACP, practices infectious diseases, clinical microbiology, and hospital epidemiology in Iowa City, Iowa, splitting time between seeing patients with infectious diseases, diagnosing infections in the microbiology laboratory, and trying to prevent infections in the hospital. Michael B. Edmond, MD, FACP, is a hospital epidemiologist in Iowa City, IA, with a focus on understanding why infections occur in the hospital and ways to prevent these infections, and sees patients in the inpatient and outpatient settings. Eli N. Perencevich, MD, ACP Member, is an infectious disease physician and epidemiologist in Iowa City, Iowa, who studies methods to halt the spread of resistant bacteria in our hospitals (including novel ways to get everyone to wash their hands).
db's Medical Rants
Robert M. Centor, MD, FACP, contributes short essays contemplating medicine and the health care system.
Suneel Dhand, MD, ACP Member
Suneel Dhand, MD, ACP Member, is a practicing physician in Massachusetts. He has published numerous articles in clinical medicine, covering a wide range of specialty areas including; pulmonology, cardiology, endocrinology, hematology, and infectious disease. He has also authored chapters in the prestigious "5-Minute Clinical Consult" medical textbook. His other clinical interests include quality improvement, hospital safety, hospital utilization, and the use of technology in health care.
Juliet K. Mavromatis, MD, FACP, provides a conversation about health topics for patients and health professionals.
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Also known as the Green Journal, the American Journal of Medicine publishes original clinical articles of interest to physicians in internal medicine and its subspecialities, both in academia and community-based practice.
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The Public Library of Science's open access materials include a blog.
One of the most popular anonymous blogs written by an emergency room physician.