Physician-owned practices reported higher levels of productivity in collections encounters and work relative value units in most specialties when compared to hospital-owned counterparts, according to the Medical Group Management Association's "Provider Compensation and Productivity Data Report."
The report, released May 28, included 2023 data from more than 211,000 physicians and advanced practice providers.
Here are five key notes:
1. Primary care physicians operating in physician-owned settings reported $154,940 more in total collections, 289 more total encounters and $11,163 more in total compensation than those in hospital-owned settings.
2. Surgical specialists in physician-owned settings saw $88,250 more in total collections, 372 less total encounters and $88,250 less in total compensation.
3. Advanced practice providers in physician-owned settings saw $129,001 more in total collections, 483 less total encounters and $11,631 more in total compensation.
4. In physician-owned settings, primary care physicians had 549 more work RVUs, surgical specialists had 1,607 and APPs had 1,027.
5. Total encounters reflect the number of direct provider-to-patient interactions and work RVUs quantify productivity and account for the complexity of the visits, according to the report.