Feature | August 29, 2014

Survey Finds Cardiology Income Drops for First Time in Five Years

August 29, 2014 — MedAxiom Consulting announced the release of its 2014 Provider Compensation & Productivity Report, based on 2013 data submitted by 134 cardiology programs representing 2,554 cardiologists across the country. Of these responding groups, 97 of them are integrated and 37 remain private.

"Healthcare continues to be a very volatile industry with rapid change being accepted as the norm. The world of cardiovascular is no different and 2013 was another dynamic year," said Joel Sauer, vice president of MedAxiom Consulting. "After years of steady increases, cardiology compensation overall dropped by nearly 8 percent from 2012. This is in part due to a slight decline in productivity, as measured by work relative value units (RVUs), of just under 5 percent as compared to 2012."

Another significant driver of compensation increases over the past years has been the transition of private practices into integrated models, either through hospital employment or professional services agreements (PSA). The pace of these transitions has slowed, which may explain the slight pullback on compensation. However, physicians in an integrated setting continue to out-earn their private peers by more than a 30 percent margin. Private physicians also experienced a larger setback in terms of overall compensation in 2013, giving back nearly 9 percent from 2012 as compared to integrated physicians that lost nearly 7 percent. Contrary to these earning figures, private physicians in 2013 out-produced (in terms of work RVUs) their integrated peers by almost 6 percent.

Sauer continued, "When looking at both compensation and production for subspecialty physicians, interventional cardiologists remain top earners in the field at a median compensation of $558,824 per full-time physician. In terms of production, electrophysiologists top the list with median work RVU production 11,405 per full-time physician. However, this subspecialty also saw the largest drop in overall compensation, falling nearly 9 percent from 2012." 

Geography continues to play a role in compensation as well. Physicians in the Midwest hold the top compensation spot ($559,004 median), with those in the Northeast at the bottom ($460,815 median). The South remains the top-producing region (10,213 median work RVUs), with the Northeast and West at the bottom (9,014 and 8,552 median work RVUs respectively).

The cardiology mix of business continues to change as well, but unlike in years past where the trends were all downward, 2013 is a mixed bag, shows the survey. New patients per cardiologist increased slightly as did the total number of cognitive encounters. The ratio of work performed in the hospital versus the outpatient setting inched back up for a second straight year, somewhat contradicting conventional wisdom on the migration of inpatient to outpatient nationally. For other key volumes like catheterizations and percutaneous coronary interventions (PCI) it would appear that declines have hit bottom and are beginning to stabilize, while non-invasive imaging saw further erosion.

For more information: www.medaxiom.com

Related Content

Researchers raised the question whether an economic benefit should be assessed in FDA reviews. A large amount of the bill for atrial fibrillation catheter ablation procedures is the cost of the mapping and ablation catheters.

A large amount of the bill for atrial fibrillation catheter ablation procedures is the cost of the mapping and ablation catheters. Researchers raised the question whether an economic benefit should be assessed in FDA reviews. 

Feature | Cardiovascular Business | January 14, 2019 | Philip Jacobs, DPhil, Ilke Akpinar, M.D., Thanh Nguyen, M.D., Ph.D., Rupinder Sandhu, M.D., and Lars Thording Ph.D.
In an age when everything in medicine is now looked at though a cost vs. benefit analysis and U.S.
GE Submits Initial Public Offering Paperwork for Healthcare Division
News | Cardiovascular Business | December 19, 2018
As part of its plans to spin off its healthcare division into a separate company, GE reportedly submitted the paperwork...
Affordable Care Act Ruled Unconstitutional in Texas Federal Court
News | Cardiovascular Business | December 17, 2018
A judge of the Federal District Court for the Northern District of Texas ruled the Affordable Care Act (ACA)...
Average Age of U.S. Cardiologists Up While Income is Down
News | Cardiovascular Business | October 25, 2018
Overall cardiology compensation has dropped for the first time since 2014, according to the sixth annual Cardiovascular...
American Heart Association and The Joint Commission Merge Cardiac Certification Programs
News | Cardiovascular Business | October 15, 2018
The nation’s two leading cardiac accreditation and certification organizations are joining forces to offer a single...
A hands-on-training session at TCT 2018 that instructed interventional cardiologists how to use an intra-cardiac echo (ICE) catheter to image the chambers inside the heart with a catheter based ultrasound imaging system.  The training area was sponsored by Siemens Healthineers

A Siemens-sponsored hands-on-training session at TCT 2018 that instructed interventional cardiologists how to use an intra-cardiac echo (ICE) catheter to image the chambers inside the heart with a catheter based ultrasound imaging system.  Regular training is needed to build customer satisfaction, especially in light of regular staff turnover.

Feature | Cardiovascular Business | October 10, 2018 | John Larson
Years ago, I owned a computer that ran a spreadsheet program called Lotus 1-2-3.
ZHealth Launches Etch Cardiovascular Coding Software
Technology | Cardiovascular Business | October 10, 2018
October 10, 2018 — Medical coding software provider ZHealth recently unveiled Etch, the first-ever software platform
GlobalData: Amazon Poised to Make Huge Strides in Healthcare
News | Cardiovascular Business | August 31, 2018
A new report from data and analytics company GlobalData suggests that Amazon is poised to make huge strides in...
CMS Proposes Overhaul of Medicare's Accountable Care Organization Program
News | Cardiovascular Business | August 09, 2018
The Centers for Medicare & Medicaid Services (CMS) issued a proposed rule August 9 that would overhaul the Medicare...
ECRI Institute Announces New Clinical Guideline Repository Website
News | Cardiovascular Business | July 27, 2018
July 27, 2018 — Following the deactivation of the National Guideline Clearinghouse (NGC) by the Agency for Healthcare
Overlay Init