Physician Executive Compensation Growth Rate Declines
Cejka Executive Search and the American College of Physician Executives Release Findings from 2011 Physician Executive Compensation Survey
ST. LOUIS, Oct. 19, 2011 /PRNewswire/ -- Physician executive compensation experienced the lowest growth rate for the first time in ten years, according to the Cejka Executive Search and American College of Physician Executives (ACPE) 2011 Physician Executive Compensation Survey. In this eighth biennial survey of ACPE members, key trends and factors that drive change in physician executive compensation are identified. The results of the survey will be presented at the ACPE 2011 Fall Institute on November 8, 2011 in Scottsdale, Ariz.
"Physicians are increasingly called upon to integrate clinical insight with business skills to help lead their organizations," said Barry Silbaugh, MD, MS, CPE, FACPE, Chief Executive Officer of the American College of Physician Executives. "This year's survey illustrates, however, that executive compensation in health care is not immune to the pressures felt across all sectors of the economy."
The 2011 Physician Executive Compensation Survey reveals a two-year rate of increase in total compensation, at 5.9%, that is well below the 11.6% increase reported in 2009 and the lowest since the 2001 survey reported 5.0% increase. Higher-ranking physician executives experienced a greater reduction in the rate of growth in total compensation than those in other roles. CEOs reported a two-year increase of only 4.2% in 2011, compared with a 13.0% increase in 2009. Chief Medical Officers (CMOs) were impacted to a slightly lesser degree, reporting a 5.7% two-year increase in 2011, compared with an 11.2% two-year increase in 2009. Medical Directors fared better than average, reporting a 7.6% two-year increase, an improvement compared with 4.9% two-year increase in 2009.
"Physician executives are essential to today's health care leadership teams who are working toward accountability, streamlining care and aligning stakeholder interests," said Lori Schutte, MBA, President of Cejka Search. "The survey not only delivers compensation benchmarks; it also illustrates the evolving profile of the physician leader and how they can chart a path toward a challenging, yet rewarding career in health care administration."
Other findings indicate that business education plays a key role in physician executive compensation. Among selected titles, all show a positive difference in the median compensation for those with a Master of Business Administration (MBA). Chief Medical Officer is the only title that reports a double-digit difference in compensation with an MBA (14%) or a Master of Medical Management (MMM), (16%). Medical Directors follow CMOs in the positive difference (9%) in earning power with either an MBA or MMM.
Paul Esselman, Executive Vice President and Managing Principal of Cejka Executive Search, will facilitate an interactive panel presentation of key findings and insights from the survey at the ACPE 2011 Fall Institute. Participants will engage with a panel of leading physician executives who will discuss the survey findings as they pertain to their organization's objectives and strategic planning.
The panel features:
John L. Boyd, III, MD, MBA, CPE, FAAP Chief Executive Officer and Chief Medical Officer, Scott and White Children's Hospitals and Clinics | ||
Ben H. Brouhard, MD Executive Director, Women's & Children's Service Line Associate Chief Medical Officer of Education, MetroHealth Medical Center | ||
Tammy Lundstrom, MD, JD, FACP, FSHEA Former Chief Medical Officer, Providence and Providence Park Hospitals Associate Professor of Medicine and Adjunct Professor of Law, Wayne State University | ||
Michael Patmas, MS, MD, CPE, FACP, FACPE, FACHE Chief Medical Officer, Woodland Healthcare | ||
Methodology
The Cejka Search and ACPE 2011 Physician Executive Compensation Survey questionnaire was distributed electronically in mid-May 2011 to 9,348 ACPE members. A total of 2,170 survey questionnaires were submitted. Of the questionnaires received, approximately 185 were discarded from tabulation due to insufficient information on the basis that they would have contributed to erroneous or misleading results. The total questionnaires used in the survey tabulation are 1,985, representing a 20% response rate.
To purchase a copy of the Cejka Search and ACPE 2011 Physician Executive Compensation Survey, please click here. The survey costs $150 for ACPE members and $350 for non-members.
About the American College of Physician Executives
The American College of Physician Executives (ACPE), located in Tampa, Florida, is the leading national professional association representing physicians in management and with a membership of over 10,000 including some of the nation's top healthcare leaders. The American College of Physician Executives is the AMA-recognized specialty society representing physicians in health care leadership. For nearly 30 years, physicians nationwide have chosen ACPE's innovative educational and career development programs to build the knowledge and skills they need to shape the future of health care.
About Cejka Executive Search
Cejka Executive Search, http://www.cejkaexecutivesearch.com, is a nationally recognized health care executive search firm providing services exclusively to the health care industry for more than 30 years. Cejka Executive Search recruits top health care talent for organizations nationwide through our team of experienced professionals, award-winning recruitment technology and commitment to service excellence. Cejka Search is a Cross Country Healthcare, Inc. (Nasdaq: CCRN) company, a leading provider of health care staffing services in the United States.
For more information visit http://www.cejkasearch.com, contact Kelly Trettin (Black Twig Communications), 314-536-8921, or Mary Barber (Cejka Search), 314-236-4410.
SOURCE Cejka Executive Search
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