|By PR Newswire||
|November 20, 2012 03:08 PM EST||
NORWALK, Conn., Nov. 20, 2012 /PRNewswire/ -- Physician income increased modestly in 2012, with slightly higher percentages of doctors reporting incomes in the highest brackets, according to Physicians Practice's 2012 Physician Compensation Survey. Yet doctors also report higher practice overhead; consequently, physicians are more likely to say that their personal income is down this year compared to last year.
Physicians Practice surveyed 1,311 doctors and staff for its annual Compensation Survey, asking about personal income, practice overhead, practice outlook, and other financial issues. Full survey results are available in the November issue of Physicians Practice and at PhysiciansPractice.com. Although compensation seems to have grown slightly, the survey also found that:
- Fewer physicians than ever (43.8 percent) report being owners or partners of their own practices, as hospitals and health systems continue to seek market share through direct employment and practice ownership and smaller group practices consolidate;
- Almost 44 percent report that their practices are owned by a hospital or health system;
- Most respondents said some part of physician income is dependent on factors such as productivity; three out of 10 said that at least 20 percent of their income is not guaranteed.
- Most respondents described net income from their practices as "disappointing."
- Twenty-nine percent of physicians say the viability of their business is "shaky," a scary prospect just as more patients are getting access to care.
- Nineteen percent of physicians reported that their income was down by more than 10 percent in 2012, compared to 2011.
"Physician compensation is not very well understood by the general public," explained Bob Keaveney, editorial director of Physicians Practice. "Compensation for doctors continues to be governed mainly by their specialty and the complexity of the cases they see."
Almost 40 percent of primary care physicians (and a majority of pediatricians) make less than $150,000 a year. But only 29 percent of OBGYNs and 10 percent of radiologists fall below that threshold.
Worrying signs are on the horizon for physician income, Keaveney said. Congress and President Obama continue to negotiate over the so-called "fiscal cliff," which, if unresolved would include a 27 percent cut in Medicare payments to physicians on Jan. 1. For now, only 15 percent of practices reported that they are no longer accepting new Medicare patients, but that might change if cuts go through.
Meanwhile, reductions in Medicare spending contained in the Patient Protection and Affordable Care Act (ACA) may erode physician compensation, especially for practices that struggle to reap increases in outcome-based payments.
About UBM Medica US
Addressing today' s healthcare information needs, UBM Medica US, delivers strategic, integrated communications solutions and comprehensive reach—online, in print, and via custom programs. Improving the effectiveness of healthcare through information and education, UBM Medica US provides unbiased clinical, practical, and business information for physicians, providers, payers, and patients around the world. Through journals, magazines, websites, online communities, drug databases, digital events, and other valuable resources, UBM Medica US also delivers comprehensive communication solutions for the pharmaceutical and related industries. Websites include CancerNetwork.com, ConsultantLive.com, DiagnosticImaging.com, MusculoskeletalNetwork.com, OBGYN.net, PhysiciansPractice.com, PsychiatricTimes.com and SearchMedica.com. UBM Medica US is part of UBM Connect – which provides marketing services across a number of communities, the largest of which are healthcare, medical device design and advanced manufacturing. UBM Connect also includes UBM Studios, the global leader in interactive digital environments. UBM Connect is a UBM plc company. For more information, visit http://www.UBMMedicaUS.com
Jason J. Golden
Content Marketing Manager
SOURCE UBM Medica US
Chris Van Tuin, Chief Technologist for the Western US at Red Hat, has over 20 years of experience in IT and Software. Since joining Red Hat in 2005, he has been architecting solutions for strategic customers and partners with a focus on emerging technologies including IaaS, PaaS, and DevOps. He started his career at Intel in IT and Managed Hosting followed by leadership roles in services and sales engineering at Loudcloud and Linux startups.
Oct. 9, 2015 03:00 AM EDT Reads: 194
The cloud has reached mainstream IT. Those 18.7 million data centers out there (server closets to corporate data centers to colocation deployments) are moving to the cloud. In his session at 17th Cloud Expo, Achim Weiss, CEO & co-founder of ProfitBricks, will share how two companies – one in the U.S. and one in Germany – are achieving their goals with cloud infrastructure. More than a case study, he will share the details of how they prioritized their cloud computing infrastructure deployments ...
Oct. 9, 2015 03:00 AM EDT Reads: 719
There are so many tools and techniques for data analytics that even for a data scientist the choices, possible systems, and even the types of data can be daunting. In his session at @ThingsExpo, Chris Harrold, Global CTO for Big Data Solutions for EMC Corporation, will show how to perform a simple, but meaningful analysis of social sentiment data using freely available tools that take only minutes to download and install. Participants will get the download information, scripts, and complete en...
Oct. 9, 2015 03:00 AM EDT Reads: 286
WebRTC services have already permeated corporate communications in the form of videoconferencing solutions. However, WebRTC has the potential of going beyond and catalyzing a new class of services providing more than calls with capabilities such as mass-scale real-time media broadcasting, enriched and augmented video, person-to-machine and machine-to-machine communications. In his session at @ThingsExpo, Luis Lopez, CEO of Kurento, will introduce the technologies required for implementing thes...
Oct. 9, 2015 03:00 AM EDT Reads: 695
Data loss happens, even in the cloud. In fact, if your company has adopted a cloud application in the past three years, data loss has probably happened, whether you know it or not. In his session at 17th Cloud Expo, Bryan Forrester, Senior Vice President of Sales at eFolder, will present how common and costly cloud application data loss is and what measures you can take to protect your organization from data loss.
Oct. 9, 2015 02:00 AM EDT Reads: 572
The Internet of Things (IoT) is growing rapidly by extending current technologies, products and networks. By 2020, Cisco estimates there will be 50 billion connected devices. Gartner has forecast revenues of over $300 billion, just to IoT suppliers. Now is the time to figure out how you’ll make money – not just create innovative products. With hundreds of new products and companies jumping into the IoT fray every month, there’s no shortage of innovation. Despite this, McKinsey/VisionMobile data...
Oct. 9, 2015 02:00 AM EDT Reads: 202
The web app is agile. The REST API is agile. The testing and planning are agile. But alas, data infrastructures certainly are not. Once an application matures, changing the shape or indexing scheme of data often forces at best a top down planning exercise and at worst includes schema changes that force downtime. The time has come for a new approach that fundamentally advances the agility of distributed data infrastructures. Come learn about a new solution to the problems faced by software organ...
Oct. 9, 2015 02:00 AM EDT Reads: 875
Between the compelling mockups and specs produced by analysts, and resulting applications built by developers, there exists a gulf where projects fail, costs spiral, and applications disappoint. Methodologies like Agile attempt to address this with intensified communication, with partial success but many limitations. In his session at DevOps Summit, Charles Kendrick, CTO and Chief Architect at Isomorphic Software, will present a revolutionary model enabled by new technologies. Learn how busine...
Oct. 9, 2015 02:00 AM EDT Reads: 279
Interested in leveraging automation technologies and a cloud architecture to make developers more productive? Learn how PaaS can benefit your organization to help you streamline your application development, allow you to use existing infrastructure and improve operational efficiencies. Begin charting your path to PaaS with OpenShift Enterprise.
Oct. 9, 2015 02:00 AM EDT Reads: 554
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
Oct. 9, 2015 02:00 AM EDT Reads: 278
Internet of Things (IoT) will be a hybrid ecosystem of diverse devices and sensors collaborating with operational and enterprise systems to create the next big application. In their session at @ThingsExpo, Bramh Gupta, founder and CEO of robomq.io, and Fred Yatzeck, principal architect leading product development at robomq.io, discussed how choosing the right middleware and integration strategy from the get-go will enable IoT solution developers to adapt and grow with the industry, while at th...
Oct. 9, 2015 02:00 AM EDT Reads: 2,193
Overgrown applications have given way to modular applications, driven by the need to break larger problems into smaller problems. Similarly large monolithic development processes have been forced to be broken into smaller agile development cycles. Looking at trends in software development, microservices architectures meet the same demands. Additional benefits of microservices architectures are compartmentalization and a limited impact of service failure versus a complete software malfunction....
Oct. 9, 2015 02:00 AM EDT Reads: 212
Today’s connected world is moving from devices towards things, what this means is that by using increasingly low cost sensors embedded in devices we can create many new use cases. These span across use cases in cities, vehicles, home, offices, factories, retail environments, worksites, health, logistics, and health. These use cases rely on ubiquitous connectivity and generate massive amounts of data at scale. These technologies enable new business opportunities, ways to optimize and automate, al...
Oct. 9, 2015 02:00 AM EDT Reads: 161
“In the past year we've seen a lot of stabilization of WebRTC. You can now use it in production with a far greater degree of certainty. A lot of the real developments in the past year have been in things like the data channel, which will enable a whole new type of application," explained Peter Dunkley, Technical Director at Acision, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Oct. 9, 2015 01:45 AM EDT Reads: 7,013
In his session at DevOps Summit, Bryan Cantrill, CTO at Joyent, will demonstrate a third path: containers on multi-tenant bare metal that maximizes performance, security, and networking connectivity.
Oct. 9, 2015 01:00 AM EDT Reads: 129