Physician compensation increased in 2002

September 1, 2002

Pharmaceutical Representative

Physician salaries have increased through May of 2002.

Physician salaries have increased through May of 2002, according to the Irving, TX-based healthcare staffing firm Martin, Fletcher.

The report, which is based on information provided by more than 5,000 hospitals and physician practices, includes salary figures for 17 different physician specialties.

"Nationally, the aging population is driving up the demand for medical care, while the aging physician population and early retirement are reducing the supply of doctors," noted Sean Endicott, vice president of Martin, Fletcher's Physician Search division.

Market trends

Specific market trends have had an affect on the physician staffing market recently. According to the report:

•Â The growing number of outpatient clinics and procedures has increased the demand for specialists. Better hours, less stress and lack of time spent on-call are attracting doctors to these facilities.

•Â Physicians are looking to increase their profits by better managing their operating costs to offset flat or negative reimbursement levels.

•Â More physicians are choosing from various employed settings over independent practices. This is especially true of the "generation X" doctor, who wants a better quality of life without the extra stress and work required to manage his or her own practice.

"Hospitals and group practices are having to become more proactive and aggressive with their recruitment and retention strategies for physicians," said Endicott. "Even large facilities in large metropolitan areas are being challenged in their staffing initiatives." PR

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