The median physician subsidy increased in the second quarter while the gap between primary care and surgical specialists widened, according to data from Kaufman Hall's Physician Flash Report.
"As provider subsidies continue to rise, many systems are placing greater emphasis on APP productivity as a way to manage their return on investment in the physician enterprise space," states the report.
Kaufman Hall gathers data from more than 200,000 employed providers, including physicians and advanced practice providers, from 100 specialties Here are 10 findings from the report.
1. The median subsidy per physician hit nearly $300,000 in the second quarter of 2024.
2. The median loss per full-time employed physician grew 3% year over year, driven by increased expenses and labor costs.
3. The median loss per full time physician surgical specialist was $431,000, more than double the average primary care physician subsidies.
4. Primary care physician subsidies hit $200,000 per year on average.
5. Medical specialist subsidies hit $411,000 per year on average.
6. Median subsidies for hospital-based physicians hit $266,000 in the second quarter.
7. The median loss per full time provider, including advanced practitioners, hit $232,145 in the second quarter, up from $225,072 over the same period last year.
8. Average loss per full time provider for primary care practitioners hit $150,000 while loss per surgical specialist provider hit $294,000.
9. Full-time physician pay increased 3% year over year in the second quarter.
10. Median work relative value units per full time physician physician hit 6,095 in the second quarter, up from 5,979 in the previous quarter and 5,736 over the same period last year.