News | Cardiovascular Business | October 04, 2023

Cardiology Compensation and Production Remain Relatively Stable Year-over-year

2023 MedAxiom Cardiovascular Provider Compensation and Production Survey Report aggregates data on private vs. integrated practice, APP to physician ratios, patient volumes and subspeciality considerations

2023 MedAxiom Cardiovascular Provider Compensation and Production Survey Report aggregates data on private vs. integrated practice, APP to physician ratios, patient volumes and subspeciality considerations

Getty Images


October 4, 2023 — MedAxiom, a premier source for cardiovascular organizational performance solutions, has released its 2023 Cardiovascular Provider Compensation and Production Survey Report that includes data from the largest number of providers since its debut. The report features a foreword from MedAxiom President and CEO Jerry Blackwell, MD, MBA, FACC, on the consistency of year-over-year data from 2021 to 2022, the importance of a robust pool of data to form the foundation of the report, and the application of data as a strategic planning tool.  

2023 Report Highlights:   

Compensation and production across all of cardiology are relatively stable.  

The median total compensation gap between private and integrated cardiologists, which narrowed in 2021, widened in 2022 with compensation increasing for integrated cardiologists and decreasing for cardiologists in private practices.  

The ratio of advanced practice providers (APPs) to physicians, as well as production and compensation for APPs, all continued their year-over-year increases with 92 percent of participating programs now including APPs in their care teams.   

MedAxiom data through 2022 does not show any meaningful reversion of integrated practices back to private practice despite the impact of private equity on cardiology ownership.  

Median total new patient volumes inched up again in 2022 to the highest level recorded, while imaging and procedural volumes across the board saw no significant increases on a per patient panel basis.  

After peaking in 2021, cardiac surgeon total compensation decreased in 2022 while vascular surgery went the opposite direction to its highest level recorded.  

“The story of the 2023 MedAxiom Cardiovascular Provider Compensation and Production Survey Report is one of consistency between the 2022 and 2021 trends after several unprecedented years of change in the cardiology industry,” said Blackwell. “While the healthcare field continues to evolve, the consistency of year-over-year data may reflect a turning tide, bringing renewed hope for stability and growth in the future.”   

The 2023 report includes 2022 data collected from 198 cardiovascular programs representing 5,806 total cardiovascular providers.    

“This report is an incredibly valuable tool for leaders who can use the data to develop plans and budget sensibly for recognized market trends, provider recruitment and retention strategies,” noted Kevin Mair, MBA, MedAxiom’s vice president of Care Transformation Services.  

For more information: https://info.medaxiom.com/compsurvey


Related Content

News | ACC

February 14, 2024 — The American College of Cardiology’s newest registry offers data-driven insights on cardiac ...

Home February 14, 2024
Home
News | ACC

February 7, 2024 — The Consumer Technology Association (CTA) and the American College of Cardiology (ACC) are announcing ...

Home February 07, 2024
Home
News | ACC

February 2, 2024 — The American College of Cardiology’s Cardiac Oncology Conference, “Advancing the Cardiovascular Care ...

Home February 02, 2024
Home
News | ACC

January 25, 2024 — The American College of Cardiology’s Cardiovascular Summit (CV Summit) will take place on February 1 ...

Home January 25, 2024
Home
News | ACC

December 1, 2023 — For the third consecutive year, the Cardiac Catheterization Laboratory at The Mount Sinai Hospital ...

Home December 01, 2023
Home
News | ACC

September 12, 2023 — The American College of Cardiology, through a strategic collaboration with Amgen and Esperion, is ...

Home September 12, 2023
Home
News | ACC

August 9, 2023 — A joint statement by two medical associations has been issued on a new guideline for the treatment of ...

Home August 09, 2023
Home
News | ACC

July 20, 2023 — The ACC Board of Trustees (BOT) has approved the College's newest officers and trustees who will assume ...

Home July 20, 2023
Home
News | ACC

June 1, 2023 — The American College of Cardiology will host the annual Care of the Athletic Heart course on June 8-10 ...

Home June 01, 2023
Home
News | ACC

May 26, 2023 — The Clinical Hospital of Emergency Services, a municipal hospital serving the community of Dnipro, in ...

Home May 26, 2023
Home
Subscribe Now