Only 21% of primary care physicians feel they are fairly compensated, according to a new report from Pearl Health. However, primary care physicians who participate in an ACO were 56% more likely than non-ACO participants to believe they are paid fairly. ACO participants were also 15% more likely to believe that the way they generate revenue allows them to deliver holistic care.
As retail disruptors like CVS, Walgreens and Amazon buy more and more primary care assets, the healthcare industry is seeing an increased demand for physicians and advanced practitioners. In the case of nurse practitioners, this rise in demand is also boosting their salaries. Physicians' starting salaries have remained relatively flat, but their average signing bonus grew.
Closing cancer health equity gaps require medical breakthroughs made possible by new funding approaches.
Healthcare providers will continue having a difficult time retaining employees unless they make necessary changes, such as establishing pay increases and improving company culture. Healthcare ranked last for employee satisfaction with pay among 27 other industries, according to a recent report. A separate report found that many healthcare employees are leaving their jobs because their company’s mission no longer aligns with their values.
Healthcare leaders now need to strike a delicate balance that requires managing financial and growth metrics, increasing the speed of transformation, and building the health systems of tomorrow. So how do we redefine compensation models to reward all these behaviors?
Notably, in the list, the so-called disruptors of the insurance industry are the ones whose CEOs appear to be winning financially even though their stock performance has left much to be desired.
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The progress in artificial intelligence (AI) is reshaping patient care, across various dimensions, from facilitating faster discharge to curating treatment plans and suggesting lifestyle changes.