Stat
Tracker
The Latest Data on Physician Starting Salaries
Hiring a new physician is probably the most important, if not expensive, decision an ophthalmology practice ever makes. Practices that have chosen to hire a new physician need hard data on physician compensation to make competitive offers without going overboard.
The 2001 Physician Starting Salary Survey provides significant information for practices in the process of hiring a new physician. Here is a sampling of actual 2001 first-year base salaries, incentive
compensation and restrictive covenants for ophthalmologists drawn from the survey:
|
Region |
First Year Base Salary |
First Year Explanatory
Information/Incentive Compensation |
Restrictive Covenant |
| Urban CO |
$130,000 |
30% of receipts over $360,000 |
Yes |
| Suburban CT |
$150,000 |
20% of net income (gross - expenses = base) |
Yes |
| Suburban FL |
$200,000 |
32% of collections less refunds |
Yes |
| Urban GA |
$120,000 |
30% of non-Stark II & non-optical collections greater than $320,000 |
Yes |
| Suburban LA |
$119,700 |
$525/day; 10% of collections greater than $575,000 |
Yes |
| Suburban MD |
$110,000 |
None |
Yes |
| Suburban MD |
Not stated |
40% of monthly cash revenue |
Yes |
| Suburban PA |
$120,000 |
FTE; $10,000/month part-time |
Yes |
| Suburban PA |
$94,785 |
50% of net profit greater than 2.5 times base salary |
Yes |
| Suburban PA |
Not stated |
45% of collections for professional component |
Yes |
| Rural PA |
$150,000 |
25% of practice collections greater than $375,000 |
Yes |
| Suburban VA |
$200,000 |
Income guarantee |
No |
| Suburban VA |
Not stated |
40% of monthly collected gross revenue |
No |
About this data: The first-year base salary, incentive compensation and restrictive covenant results for ophthalmologists in this installment of Stat Tracker were drawn from the 2001 Physician Starting Salary Survey (copyright 2001, The Health Care Group, Inc.). The survey, which is updated annually, is a cooperative effort. Participating healthcare advisors, consultants and practices submit reports, and The Health Care Group, Inc. (Plymouth Meeting, Pa.) tabulates the results.
All summary statistics are based on responses from January 1997 through June 2001. The dollar value of salary is presented first, followed by any explanatory information, including any productivity-based or bonus compensation. Part-time compensation is recalculated to full-time equivalent data based on a 60-hour, 5-day work week for 228 workdays per year.
The complete survey also reports data for the second and third years of employment, as well as additional data about benefits and on-call and co-owner arrangements. For more information about the survey, call Mark E. Kropiewnicki, J.D., LL.M at (800) 473-0032.
Ophthamology Management, Issue: March 2002