(PRWEB) October 03, 2012
INTEGRATED Healthcare Strategies, a healthcare human resource and compensation consulting firm, today announced the publication of its 2012 Medical Director Compensation Survey.
The firm, with offices in Dallas, Kansas City, Minneapolis, and Palm Springs, conducts the survey to provide the healthcare industry with relevant trends in the marketplace that help organizations compensate their medical director physicians within fair market value.
The 2012 Medical Director Survey, which includes data on over 3,000 medical directors, revealed that independently contracted medical directors are paid 2.8% higher on average than employed medical directors. This trend is likely the result of foregone taxes, benefits and insurance payments. Gaining momentum was the occurrence of performance bonuses, rising to 35% up from 27% in 2011. The data also showed that, on average, median hourly rates increased by 2% from 2011 to 2012.
The survey looked at 94 medical director positions and examined employment status, performance bonuses and specialty-specific hourly rates. Chad Stutelberg, Executive Vice President and Practice Leader for Physician Services, commented on the vital importance of medical directors, “Nearly every hospital in this nation requires the management role of a medical director. INTEGRATED is proud to supply the industry with critical data on competitive pay to attract candidates, and also guide organizations to pay those physicians within regulatory guidelines. The Medical Director Survey keeps growing, and this year we included eight new positions.”
The survey results confirmed that 77% of organizations use formal contracts for their medical directors, with one year consistently remaining the most common contract length. In the area of documentation, responses showed that 67% of organizations require a physician to log their time.
The 2012 Medical Director Survey results may be purchased by emailing medicaldirectorsurvey (at) ihstrategies (dot) com. The 2013 Medical Director Survey is expected to be open for participation starting in March; survey results are free to participating healthcare organizations.
About INTEGRATED Healthcare Strategies
For more than 30 years, INTEGRATED Healthcare Strategies has provided consultative services and people-based solutions to clients across the healthcare spectrum, including community and children’s hospitals, academic medical centers, health networks, clinics, and assisted-care providers. Our expert consultants and nationally recognized thought-leaders help organizations achieve their business goals, by ensuring top talent is attracted, retained, and engaged, while measuring and maximizing human and organizational performance. With tailored solutions that extend well beyond single services, INTEGRATED offers the knowledge, guidance, insights, and alignment that organizations need to not only survive the rapidly changing healthcare environment, but to succeed in it. Exclusive to Healthcare, Dedicated to PeopleSM. For additional information contact Julie McCauley at 800-327-9335 or at julie.mccauley (at) IHStrategies (dot) com.
Visit INTEGRATED Healthcare Strategies online at http://www.INTEGRATEDHealthcareStrategies.com, or view our blog at http://www.INTEGRATEDHealthcareStrategies.com/blog.