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Wednesday December 17, 2014
How Well did the Physicians Perform in 2014?
The year 2014 proved to be a mixed year for the physicians in US. While some of the medical specialties saw an increase in their compensation, others witnessed a reduction in the total cash compensation. The income may have increased for some physicians but the frustration caused by healthcare reforms still exists.
Industry Facts:
  • As per a Sullivan, Cotter and Associate survey, specialty physicians witnessed an increase of 1.9% in compensation in 2014 whereas the surgical specialty physicians saw a 2.5% increase
  • As per a Physicians Practice survey, 51% respondents said their net income is slightly or highly disappointing

How 2014 benefitted Physicians?

According to the Physician Compensation and Productivity Survey from Sullivan, Cotter and Associates, the median total cash compensation increased for many medical specialties.

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Are Physicians Prepared for the Changes in 2015?
Significant changes are reshaping the US healthcare system. 2014 was a mixed year for physicians in terms of compensation and other aspects of practice management. With 2015 round the corner, hospitals and private practices will have to be prepared for some big changes. Some developments will bring welcome news whereas others might be troubling for physicians.
Industry Facts:
  • Physicians will have to face the issue of high deductibles of $1000 or more from next year
  • Providers will have to start testing and gearing up for implementation of ICD-10, scheduled on October 01, 2015
  • Participants of Accountable Care Organizations will start losing money as part of the initial three-year agreement with CMS program. This shared-savings contract will end in 2015

Significant changes in 2015 that will affect Physicians

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