Pay day? Cardiologists report 0.5% raise in 2017
Cardiologists saw a slight bump in compensation in 2017 compared to last year, with an average increase of 0.5 percent increase, according to the American Medical Group Association’s (AMGA) annual medical group compensation and productivity survey. This is on the heels of a 6.9 percent increase from 2015 to 2016.
For cardiology-specific information, the survey collected responses from 153 large multispecialty groups and integrated health systems representing more than 1,799 providers. Results were included in three subcategories: cath lab (invasive interventional), echo lab and nuclear, and electrophysiology pacemaker.
Survey conclusion include:
The median net collection was $573,891.
Median pay for cardiologists in the 90th percentile was $733,541, and $361,862 for those in the 20th percentile.
Work relative value units (RVUs) were 7,517, up 1.4 percent from 2016.
Cath lab cardiologists had the highest median salary of the three subcategories, with an average of $598,675.
“Market salary data has become a driving determinant in physician base salary, and its importance has steadily increased over other factors, interim AMGA President and CEO Ryan O’Connor, MBA, said in a press release. “The topic of compensation arises in nearly every conversation I have with our members and on most event agendas we organize. The findings in this survey are critical to medical group leaders as they make decisions impacting their organization’s financial performance.”
Nicholas joined TriMed in 2016 as the managing editor of the Chicago office. After receiving his master’s from Roosevelt University, he worked in various writing/editing roles for magazines ranging in topic from billiards to metallurgy. Currently on Chicago’s north side, Nicholas keeps busy by running, reading and talking to his two cats.