Business
AMGA issues income report
NEWS IN BRIEF — Posted Aug. 23, 2004
Physicians across the board saw increases in median compensation in 2003, though some hikes were meager, and some medical groups continued to operate at a loss, according to an American Medical Group Assn. report.
According to the organization's 2004 Medical Group Compensation & Financial Survey, dermatologists had the best year, with a 16.7% salary increase, from $221,255 in 2002 to $258,235 per year in 2003. Gastroenterologists saw a 12.3% increase, from $271,503 in 2002 to $304,994 in 2003, while interventional cardiologists saw a nearly 12% jump, from $329,494 in 2002 to $368,938 in 2003.
Family physicians saw about a 3.7% increase in median compensation, from $148,992 in 2002 to $154,463 last year, according to the report. Internists saw a 6.6% jump, from $147,810 to $157,631.
Not all groups saw similar gains in profit, however. Groups in the East reported higher profits than groups in the West and the South, while Northern practices reported an average loss of nearly $3,500 per physician.
The survey contains data from more than 30,000 groups across the country. AMGA primarily represents large multispecialty practices.
Note: This item originally appeared at http://www.ama-assn.org/amednews/2004/08/23/bibf0823.htm.
