Physicians Generate $1.54 Million Annually for Their Affiliated Hospitals
A single physician generates an average of $1.54 million a year in net revenue for his or her affiliated hospital, up slightly from an average of $1.5 million in 2007, according to a nationwide survey of hospital CFOs by physician search firm Merritt Hawkins. Neurosurgeons headed the list of hospital revenue drivers. A single, full-time neurosurgeon generates an average of $2.8 million a year for the hospital. Other high revenue-generating specialists include invasive cardiologists ($2.2 million a year), orthopedic surgeons ($2.1 million a year), general surgeons ($2.1 million a year), and hematologists/oncologists ($1.5 million a year).
Primary care physicians also generate substantial revenue for hospitals, the survey found. A general internist generates $1.7 million a year on average, a family physician $1.6 million a year, and a pediatrician $856,154 a year, according to the survey. Survey findings are based on data submitted by 114 facilities. Courtesy of HFMA News March 19th.
I am curious about the revenues generated by Anesthesiologist and Nurse Anesthetists. I will report my calculations in a later post.
Senate Failure to Pass Extension Causes 21.3% cut to Medicare Physician Payments on April 1
The Senate has adjourned for its two-week “Spring District Work Recess” without approving H.R. 4851, a short-term measure that would have extended the freeze on Medicare’s current physician payment rates through April 30. Several Senate Republicans led by Tom Coburn of Oklahoma objected to classifying the bill, which also included extensions of unemployment benefits and COBRA insurance, as emergency spending. The House of Representatives passed the bill on March 17. By law, the 21.3 percent cut to Medicare physician payments will take effect April 1.
The Senate returns April 12 and has scheduled a cloture vote on the 30-day extension bill for 5:30 p.m. that evening. Physicians should contact their Senators and urge them to permanently address this issue by repealing the sustainable growth rate formula. You can contact your senators via the MGMA Advocacy Center or by calling the American Medical Association Grassroots Hotline, 800.833.6354. Courtesy of MGMA
