A 2024 survey conducted by SullivanCotter highlights a range of trends in advanced practice provider pay, particularly higher salaries.
The consulting firm's "2024 Advanced Practice Provider Compensation and Productivity Survey Report" is based on data from nearly 850 health systems, hospitals and physician group practices representing more than 134,000 individual APPs and over 4,700 APP leaders. Here are four trends from the survey, released Oct. 23:
1. From 2021 to 2024, median total cash compensation — comprising base salaries plus annual incentive awards — for nurse practitioners and physician assistants combined increased by 17% for primary care, 15% for surgical specialties, and 14% for both medical and hospital-based specialties.
2. TCC grew even more rapidly, by approximately 22%, for certified anesthesiologist assistants and certified registered nurse anesthetists during the same timeframe.
3. Along with rising salaries, the share of APPs receiving sign-on bonuses has grown from 74% to 82% since 2022, while retention bonuses have become more common, increasing from 44% to 50%.
4. Half of organizations surveyed said they use incentives for at least some of their APPs, with 74% of these organizations structuring this pay as add-on dollars instead of at-risk compensation.
Read more about the report here.