MedAxiom noted interesting trends with the release of its 5th annual Cardiovascular Provider Compensation & Production Survey (Sept. 19, 2017). This 2017 report includes data from 162 practices and groups, representing 2,337 full-time physicians, collected between 2008 through 2016.
Here are some trends revealed from the survey:
- 20% of cardiologists are over the age of 60. And nearly half (45%) of all cardiologists are age 56 or greater
- Female physicians now account for nearly 10 percent of the total cardiology workforce
- Despite expectations, overall cardiology compensation continues to increase
- Electrophysiologists grabbed the top earnings spot from interventional physicians coming in at $607,336 per FTE
- The difference in overall compensation between private cardiologists and their integrated counterparts is at its lowest point in 5 years
- Physicians in the Northeast region earned the most income in 2016, with median compensation of $606,681. The West region was the lowest-paid geographically for the fifth consecutive year
“These findings come at a time of unprecedented change and uncertainty within the health care industry,” Joel Sauer, vice president of MedAxiom Consulting, said in a press release. “The somewhat surprising survey results are reflective of the need for data and analysis that helps us understand what is really going on, what we need to do to achieve the quadruple aim of health care, and where there are gaps. Obviously, creating economic alignment and strategies for dealing with physician slowdown are imperative.”
Click here to access MedAxiom’s 2017 Provider Compensation & Production Survey.