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The annual Medical Group Management Association (MGMA) Academic Practice Compensation and Production Survey Report should bring welcome news to faculty and management in academic practices.
According to the 2002 report based on 2001 data, the median compensation for primary-care faculty was $127,004 in 2001, up 1.7% from 2000. Family practice experienced the largest increase in the primary-care specialties for the second year in a row, with 3%.
The median compensation for specialist faculty was $170,899 in 2001, up 3.8% from 2000. The top specialties experiencing compensation increases from 2000 are rheumatology at 9.4%, diagnostic radiology at 8%, neurology at 6.6%, and orthopedic surgery at 4.3%.
Pulmonary medicine and anatomic pathology experienced 1.8% and 3.2% decreases, respectively.
Median compensation for chief department administrators with additional responsibilities was $94,500 in 2001, up $10,000 from 2000. Chief department administrators without additional responsibilities had a median compensation of $83,200, up $12,995 from the previous year.
According to the new survey report, the size of a department is what makes the difference when it comes to what academic practice managers earn. Managers in departments that have greater numbers of physicians and that pull in more revenue tend to command higher compensation.
Clinical practice managers earned a median compensation of $59,800 in 2001, while directors of billing/coding and medical directors had a median compensation of $43,884 and $132,000, respectively.
For more information on the survey, or to inquire about purchase, visit the MGMA web site at www.mgma.com.