Healthcare provider organizations have experienced an incredible amount of uncertainty over the last year and a half.
Editor's Note: This article originally appeared on ECG's website.
With the pandemic upending life as we know it, providers have adapted on the fly and met the challenge head-on. And while COVID-19 has certainly had an impact on how providers interact with patients, so, too, has it affected the benchmarks around physician compensation and productivity.
We examine some of those impacts in the infographic below.
Notably, physician compensation in 2021 dropped only 1% to 2% when compared to 2020 data, likely in part due to the efforts by healthcare organizations to protect providers during this time. Not surprisingly, productivity decreased approximately 7% to 8% over the same period. As a result, many provider organizations were compensating their physicians at a much higher effective rate of pay per WRVU rate during this time, which has significant implications for how organizations use and interpret the published 2021 benchmarks. Click here to continue>>
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