The income crisis among primary care physicians will lead to a physician shortage in upcoming years, just as patient loads are set to increase, according to a Time report.
The shortage is exacerbated by lower compensation for primary care physicians than for specialists, as well as a decreasing interest in primary care, according to the report. Rising medical school costs mean students are increasingly choosing high-paying specialties: the 2010 MGMA physician-compensation report reported a median salary of $457,310 for cardiologists compared to $191,401 for primary care physicians.
While health reform legislation adds a 10 percent bonus to PCP's Medicare reimbursement salaries, experts say the increase is not enough to combat the shortage.
Read the Time report on primary care physicians.
Read more on physician compensation:
-2010 Hospital Executive Salary Increases Lower Than Expected
-Practice Management Professional Compensation Remains Static
The shortage is exacerbated by lower compensation for primary care physicians than for specialists, as well as a decreasing interest in primary care, according to the report. Rising medical school costs mean students are increasingly choosing high-paying specialties: the 2010 MGMA physician-compensation report reported a median salary of $457,310 for cardiologists compared to $191,401 for primary care physicians.
While health reform legislation adds a 10 percent bonus to PCP's Medicare reimbursement salaries, experts say the increase is not enough to combat the shortage.
Read the Time report on primary care physicians.
Read more on physician compensation:
-2010 Hospital Executive Salary Increases Lower Than Expected
-Practice Management Professional Compensation Remains Static