Physicians in hospitals, medical groups and other provider organizations can expect to see a 2.6 percent increase in salaries next year, according to consulting firm Hay Group's 2012 physician compensation survey.
Hay Group, which conducted its survey through interviews and reports of more than 132 physician specialties, found that hospital-based physicians will garner the smallest pay increases at 2 percent. Physicians in group practices can expect to see salary raises of 3 percent, the highest of any organization type.
Here are other major takeaways from Hay Group's survey:
• Physicians saw actual salary increases of 2.5 percent in 2012.
• Employment contracts continued to trend upward last year. In hospitals, 70 percent of physicians had employment contracts in 2012 compared with 64 percent in 2011. Sixty-seven percent of group-based physicians had employment contracts last year compared with 56 percent in 2011.
• Quality measures are becoming more prominent in determining physician incentive payouts.
• Eighty-eight percent of organizations provided some form of malpractice insurance to physicians, and of those groups, 97 percent provided it at no cost.
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