Compensation for most physicians remained steady despite lower patient volumes, caps on elective procedures, and a growing number of practice closures in 2020 due to the COVID-19 pandemic, the Medical Group Management Association (MGMA) reported.
The 2021 MGMA Provider Compensation and Production report analyzed data from more than 185,000 providers across more than 6,700 physician-owned and hospital-owned organizations.
Total compensation for primary care physicians increased by 2.6% between 2019 and 2020 compared with a three-year cumulative increase of 5.27% and a five-year cumulative increase of 10.15%, according to the report.
In addition, advanced practice providers experienced a slight increase in compensation, while surgical physicians experienced a compensation decrease of 0.89% in 2020. Nonsurgical specialists reported a decrease of 1.29% despite the significant challenges faced by those specialists last year.
The MGMA is the nation's largest association focused on the business of medical practice management. The full report is available online.
