The Medical Group Management Association (MGMA) recently revealed that compensation for most physicians has remained steady during the COVID-19 pandemic.
The details of the study were presented through MGMA Data Report: Provider Pay and the Pandemic.
"MGMA's modest compensation findings belie the turmoil of 2020,” Dr. Halee Fischer-Wright, president and CEO of MGMA, told Cision PR Newswire. “Our numbers tell a story of a year of unprecedented challenges that could have potentially led to a serious decline in compensation across every category we track. Practices acted quickly to leverage government programs to cover staff costs and expenses during the early part of 2020. They adapted to new delivery models, such as telemedicine, and were able to quickly ramp up when patient volumes returned later in the year. It is a testament to the resiliency of physician groups that weathered the challenges of a year that tested us all in so many ways."
Unexpectedly, with a lower number of patients, practices temporarily shuttered and put limits on elective procedures, but physicians’ compensations were stable. Notably, primary care physician compensation saw modest growth last year, according to Cision PR Newswire.
The MGMA report, which reflects data gathered from over 185,000 providers across more than 6,700 organizations, also includes information related to physician productivity trends last year.
In the more than 90 years since its establishment, MGMA has “15,000 group medical practices, ranging from small private medical practices to large national health systems, representing more than 350,000 physicians,” PR Newswire reported. It is focused on the business of medical practice management.
MGMA is on a mission to empower these practices, as well as patients, to create meaningful change in health care.
