Every year Medscape releases their annual Physician Compensation Survey. The survey ranks the highest physician earners across all areas of specialty. This year, the survey results reported few changes for top earning physicians. Orthopedists remained the highest compensated physicians in this year’s report, followed by cardiologists and urologists. Primary care and other less specialized physicians earned significantly less, as stated in a recently published article by Healthcare Matters.
The article also states that 2014 brought modest compensation increases among primary care physicians and doctors who focus on treating chronic illnesses. Physicians are hoping that the higher compensation, although minor, is a positive sign of the impact of Affordable Care Act (ACA).
However, industry thought leaders still maintain “cash-only and direct primary care practices are still not significant payment models.” Direct Primary Care (DPC) is gaining significant traction among physicians and employers, as both stakeholders continue to prepare for the looming employer-mandate that will take effect in 2015.
Physicians across the country are still uncertain how the ACA will impact their compensation moving forward. Some maintain the law will have no impact on their compensation, another faction are not as sure. Regardless of your position, the impact of the ACA will continue to grow. Physicians must continue to evolve their practices in order to protect their bottom line and personal compensation.
By: Tyler Kehoe