STRATEGIES FOR PHYSICIANS
TO BOOST THEIR EARNINGS
BY STEVE BARRETT
IT ISN'T NE WS THAT PHYSICIAN PAY VARIES WIDELY. PR ACTICE LOCATION, SPECIALT Y AND E XPERIENCE
ARE AMONG THE MANY FACTORS THAT CONTRIBUTE TO DISPARITIES IN SAL ARY.
NONE THELE S S, PH YSICI A NS H AV E
a number of options for increasing their
earnings, Medscape notes in an article
that draws on insights from physicians
a nd i ndu s t r y a n a ly s t s . Here a re a
few strategies:
+ Dip into administration. Physicians
who are willing to take on administra-
tive roles — especially at higher levels
within their organizations — can earn
significant bonuses.
+ Ramp up your patient load. Nothing
increases pay for more physicians than
treating more patients. For example,
family physicians who earn more tend
to see about 120 patients per week, com-
pared with about 80 for lower earners,
according to one study.
+ Go large. By leveraging economies of
scale, bigger practices typically can
pay their physicians more than small
practices can.
+ Pick the right venue. Facilities such
as community health centers are not
known for ample compensation.
+ Consider pulling up roots. States
including Min nesota , Nebra ska ,
N o r t h D a k o t a a n d W i s c o n s i n
genera lly have the highest-ea rn-
ing physicians.
Of course, many physicians may not
want to be administrators or may favor
limited patient loads, smaller practices,
the community health environment or
life in areas where pay is lower. Those
fa c t or s de s er ve f u l l c on sider at ion
before a provider sets off for financially
greener pastures. n
stdavidscenter.org
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