Provider Organizations Report Improved Financial Performance in 2013

Increased compensation was reported by 68 percent of specialties, with gastroenterology, cardiac/thoracic surgery, emergency medicine, and neurology taking the lead.
Published Online: August 21, 2014
The American Medical Group Association (AMGA) today announced findings from its 2014 Medical Group Compensation and Financial Survey, conducted by the national consulting firm of Sullivan, Cotter and Associates, Inc. Findings show an increase in the number of provider organizations reporting stronger financial performance for the second year in a row. The survey reported that groups, on average, broke even financially, with groups in the eastern region reporting positive operating margins. The survey also found small upward and downward movements in compensation based on specialty area. Average increases in compensation in 2013 were slightly higher than in 2012. The overall weighted average increase in 2013 compensation was 2.9 percent, up from 1.6 percent from 2011 to 2012.

"After years of facing financial hardship, medical groups and other organized systems of care are improving their financial performance," commented Donald W. Fisher, Ph.D., CAE, president and chief executive officer of AMGA. "Our members have worked diligently to offer the highest quality, most efficient medical care at the lowest cost and their efforts are slowly beginning to pay off with their diligent cost savings translating in stronger financial performances. This is another example of the superiority of the integrated, coordinated model of care delivery. As these medical groups strive to become high-performing health systems, they are investing in improvements in care processes and infrastructure that will provide patients with better health outcomes, enhanced care experience, and lower costs well into the future. It is gratifying to see their efforts are also resulting in financial gains, and we hope they can continue to improve financial performance."

Original report: http://bit.ly/1nfi56d

Source: Newswise



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