Recent Survey by Medical Group Management Association Points to Major Questions About the Future Supply and Types of Primary Caregivers
Abstract
From James Unland, Editor, Journal of Health Care Finance
On May 16, 2018 the Medical Group Management Association ("MGMA") released a national health care provider compensation survey whose results point to a number of significant questions, among which are major questions about the future supply and mix of, in particular, "primary care" professionals.
The survey found that primary care physicians' compensation has increased markedly while their "relative value units" remained flat. Rather, the increase relates to a shortage of primary care physicians. To attract such physicians, according to the MGMA, "...Practices offered more benefits to attract and retain physicians, including higher signing bonuses, continuing medical education stipends, and relocation expense reimbursements."
The shortage of primary care physicians is widely expected to worsen in the coming years due to, among other things, the aging population wth chronic conditions. Our Journal recently published an article on the need for new Alzheimer's treatment models. Some forecasts indicate that Alzheimer's and dementia alone could create unmanageable amounts of patients in the absence of a dramatic scientific/medical breakthrough for those conditions.
Even more impactful to me than the MGMA's primary care physician data was their finding that the compensation of non-physician health professionals --inclusive of nurse practitioners, physician assistants and similar types of professionals -- has been increasing markedly. Nurse practitioners, for example, have seen a nearly 30% growth in total compensation during the past ten years. The roles of these types of medical personnel have consistently been expanding in many areas of patient care, including with respect to urgent care, surgery, childbirth, etc., and these roles are expected to continue to expand dramatically going forward.
The MGMA's full press release is included here in the link to the PDF file below. I also had the opportunity to interview a top MGMA official, and so you are encouraged to listen to the 10 minute interview that relates to the various impications of the MGMA's survey. The audio interview may be heard directly from the web page or downloaded as an MP3 file.
On May 16, 2018 the Medical Group Management Association ("MGMA") released a national health care provider compensation survey whose results point to a number of significant questions, among which are major questions about the future supply and mix of, in particular, "primary care" professionals.
The survey found that primary care physicians' compensation has increased markedly while their "relative value units" remained flat. Rather, the increase relates to a shortage of primary care physicians. To attract such physicians, according to the MGMA, "...Practices offered more benefits to attract and retain physicians, including higher signing bonuses, continuing medical education stipends, and relocation expense reimbursements."
The shortage of primary care physicians is widely expected to worsen in the coming years due to, among other things, the aging population wth chronic conditions. Our Journal recently published an article on the need for new Alzheimer's treatment models. Some forecasts indicate that Alzheimer's and dementia alone could create unmanageable amounts of patients in the absence of a dramatic scientific/medical breakthrough for those conditions.
Even more impactful to me than the MGMA's primary care physician data was their finding that the compensation of non-physician health professionals --inclusive of nurse practitioners, physician assistants and similar types of professionals -- has been increasing markedly. Nurse practitioners, for example, have seen a nearly 30% growth in total compensation during the past ten years. The roles of these types of medical personnel have consistently been expanding in many areas of patient care, including with respect to urgent care, surgery, childbirth, etc., and these roles are expected to continue to expand dramatically going forward.
The MGMA's full press release is included here in the link to the PDF file below. I also had the opportunity to interview a top MGMA official, and so you are encouraged to listen to the 10 minute interview that relates to the various impications of the MGMA's survey. The audio interview may be heard directly from the web page or downloaded as an MP3 file.
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