FIND OUT WHAT NEW DATA say about how much hospitalists earn and how incentives are paid
The results are in from the 2024 Today’s Hospitalist Compensation & Career Survey, and—not surprisingly—hospitalist compensation last year continued its steady climb.
Nonacademic hospitalists who treat adults, for instance, reported a mean 2023 income (including extra shifts) of $355,307. That’s a 4% increase over what they said they received the previous year ($341,471). But some segments of the hospitalist market report significantly higher mean compensation.
At the same time, groups also weigh in on how much of physicians’ income is pegged to bonus pools—and how much of that income is put at risk. Sources who spoke to Today’s Hospitalist also weigh in on how they pay out comp differentials according to group members’ experience and if they reward years of service within a group.
Check out the following articles concerning hospitalist compensation:
Hospitalist compensation continues its steady rise
New survey data reveal that the hospitalists who did receive a pay raise last year received only a modest one: 4%. Sources tell us such a small increase may be what hospitalists should expect over the next year or two.
Hospitalist pay incentives: a look at bonuses and risk
How are hospitalist groups using compensation incentives like shifts worked, RVUs, patient satisfaction, readmissions, patient experience and citizenship to reward physician performance? And perhaps just as importantly, how much of physicians’ compensation is at risk for such incentives?
Paying hospitalists for experience: a look at retention bonuses
Not all hospitalist groups pay their physicians extra based on their years of experience, but compensation differentials and retention (or “loyalty) bonuses are used by some to reward years of experience and/or tenure. But the bar for what counts as “experienced” keeps dropping as groups try to make themselves competitive when recruiting new hospitalists.
Hoping for a big pay raise? This may not be the year
Physician pay raises may be on the small side this year because of factors including tight margins and claims denials. That will probably be the case even for hospitalists who are expecting a big bump because their group hasn’t renegotiated its compensation plan for several years.
