Let's have a look at how the physicians income has changed in the year 2010
Primary care physicians saw a modest increase of 2.94% in their compensation from 2009 while internists and pediatricians saw their income rise by 4.21% and 0.39% respectively. Dermatologist saw the highest increase in their income at 12.2%, a recurrent feature over the years, probably due in part to their ability to offer elective procedures not routinely included in insurance and secure the complete fee at the time of service.
Ophthalmologists, with a hike of 7.7% are apparently cashing in on the rising popularity of laser refractive surgery and other non-covered services. On the other hand, some specialties such as anesthesiologists, gastroenterologists, obstetricians/gynecologists, invasive cardiology, diagnostic radiologists, and urologists registered a decline in their compensation. In Hematology/oncology the income remained flat, with only a 2.2 percent increase since 2005, due in part to diminished reimbursement for administering drugs.
Location desirability is another factor influencing competition and compensation. According to the survey, physicians practicing in the south reported the highest median earnings, at $216,170 in primary care and $404,000 in specialty care. They were followed by physicians in the Midwest and west. Physicians in the East earned the least, at $194,409 in primary care and $305,575 in specialty care. The key findings could help in focusing the physicians attention on improving their billing and coding operations among other things in order to boost their reimbursement rates and look around for more professional help in the area.
Ohio Medical Billing | Oklahoma Medical Billing | Arizona Medical Billing