Volatility driven by COVID-19 rocked physician practices throughout 2020, causing declines across key performance metrics compared to pre-pandemic levels, according to the latest issue of Kaufman Hall’s Physician Flash Report. Physician productivity, compensation, and revenues for the year all fell below 2019 results, while the average investment required to supplement physician revenues rose.
Key findings from the quarterly report include:
- Median Investment/Subsidy per Physician FTE rose 6.8% from 2019 to $239,656 in 2020
- Physician Compensation per FTE declined 1.6% from 2019 to $303,181 in 2020
- Physician wRVUs per FTE fell 8.4% from 2019 to 2020
- Net Revenue per Physician wRVU rose just 1.4% from 2019 to 2020
- Total Direct Expense per Physician FTE fell 4.9% from 2019 to $782,518 in 2020
The Physician Flash Report features the most up-to-date industry trends drawn from the same data that physician groups use to track their finances and operations. If you are interested in more detailed benchmarks by specialty or custom peer groups, email PhysicianFlashReport@kaufmanhall.com.