Business
Philadelphia practices report 4% staff pay increase
NEWS IN BRIEF — Posted June 19, 2006
Salary increases for administrative and staff positions averaged 4% last year for physician practices in the Philadelphia area, according to a survey conducted by Margolis & Company P.C., a regional accounting and consulting firm based in Bala Cynwyd, Pa.
The increase last year was greater than the 3% increase practices saw in 2004. Practices said raises were largely based on performance (87%), cost of living (74%) and an employee's tenure (46%), according to the survey.
Nearly 60% of responding groups said they offered a bonus program to employees, while 65% of those offering a bonus said all employees were eligible to participate, according to the survey.
The survey is based on responses from about 60 practices in a nine-county area surrounding Philadelphia. The responding groups cover more than 15 different specialties.
Note: This item originally appeared at http://www.ama-assn.org/amednews/2006/06/19/bibf0619.htm.
