Does your compensation increase beat inflation?
November 1, 1999 less than 1 minute read
Does your compensation increase beat inflation?
MGMA survey says it should
The latest survey of management and administrator compensation by the Medical Group Management Association shows administrators in small practices had a 5.36% median increase in compensation, and those in larger practices had a 3.4% rise. Both those figures beat out the 2.3% current inflation rate.
The data come from the Management Comp en sation Survey: 1999 Report Based on 1998 Data, which was just released at press time.
Administrators of a practice with more than 25 physicians made $124,450. Those with seven to 25 physicians took home $76,724, and those in the smallest practices had a median compensation of $60,000.
Another trend noted in the survey is that marketing and sales positions are taking on greater importance in medical practices. The median compensation for marketers is $48,000, and public relations and communications professionals are making about $45,000.
Practice Marketing and Management will look at the report and its companion cost survey in greater depth in December.
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