In keeping with the industry trend, the compensation model that both Our Lady of the Lake and South Nassau Communities use is an annual salary for the base plus incentives that reward quality, productivity, participation, and project work.
Regardless of the model, however, the salaries for these physicians is on the rise. MGMA’s annual survey showed the median compensation for internal medicine hospitalists was on the upswing, landing at $215,000 per year not including benefits. That salary was a $32,000 increase over the median compensation these physicians earned just one year prior ($183,900) and a $44,000 bump from the median salary they earned just five years ago. Additionally family practice hospitalists received a median compensation of $218,066 and pediatric hospitalists reported compensation of $160,038. (The report indicates compensation varies based on geographic location, teaching status, and practice size.)
Regardless of whether a hospital opts to employ or contract with these doctors, both Ma and Limbocker agree that hospital medicine brings inherent value to the hospital and the bottom line.