New demand has specialists’ star rising
Primary care physicians can’t do it all
One of the interesting trends the Physician Compensation and Production Survey from the Medical Group Management Associ a tion noted was the re-emergence of demand for specialists.
Many of them experienced significant increases in compensation — 9.23% to more than $193,000 for dermatologists, 8.95% to $212,516 for hematology/oncology, 7.29% to $278,900 for non-invasive cardiologists, and 7.19% to $350,000 for invasive cardiologists. Only emergency medicine noted a decline, and that was only 0.64% to $176,217.
The average increase for all specialists was more than 5%, and it seems to indicate that the focus on primary care specialists is waning. But most specialists are working harder for their money. The production of all specialists was up 6.51% to $724,275.
The findings of the MGMA survey were echoed in another report published by search firm Merritt, Hawkins & Associates in Irving, TX. That study looked at 1,800 physician search assignments nationwide and found that nearly 70% of those conducted between April 1998 and April 1999 were for specialists.
Reasons for the rise
That’s almost opposite of what the firm did in 1995-96, when 72% of the searches the firm conducted were for primary care physicians. According to the study, some of the reasons for the switch include declining participation in some specialty residency programs, consumer demand for greater access to specialists, early retirement of some specialists, and an effort by "second tier" and smaller communities to add specialty services.
As did the MGMA survey, Merritt, Hawkins found strong demand for cardiologists and oncologists. Copies of the Merritt, Hawkins survey are available from the firm by calling (800) 876-0500 or by visiting the firm’s Web site, www. merritthawkins. com.
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