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In the third quarter of this year, the median investment/subsidy per physician was $304,312—rising above $300,000 for the first time. Other expense metrics such as the total direct expense per provider FTE and labor as a percentage of total expenses increased.

Health systems are confronting a new normal of shrinking revenue and rising labor costs. In the second quarter of 2024, increased labor expenses accounted for 83.9% of total expenses. Additionally, the median investment/subsidy per provider rose 3% since Q2 2023.

Overall labor expenses and revenue continue to rise, and Q1 2024 data show that labor represented 84% of total expenses. The median investment/subsidy per provider increased 2% compared to Q1 2023.

The January issue of the Physician Flash Report features the most up-to-date industry trends drawn from the same data physician groups use to track their finances and operations.

Physicians are operating at record-high levels of productivity compared to recent years but receiving less pay per unit of work. The median investment/subsidy per provider continues to increase, but the pace is slowing with only a 1% change from Q3 2022 to Q3 2023.

Physician and provider productivity is on the rise as patients increasingly seek care in ambulatory settings. However, increased revenue and productivity in Q2 was not enough to offset rising expenses as the median investment/subsidy per provider still rose 5% year-over-year to $224,243.

Physician and provider productivity is on the rise as patients continue to reengage and seek out care that was put off during the pandemic.

America's providers are more productive and seeing more patients than ever—particularly in primary care settings—resulting in an increase in revenue in the last quarter of 2022. However, increased expenses outweighed improved revenue.

Physician practices continued a trend of increased productivity in the third quarter of 2022. However, despite higher volumes and increased productivity, investments/subsidies increased...

Over the last decade, the physician enterprise has undergone transformative changes. As of 2021, 73.9% of physicians were employed by hospitals or other corporate entities, according to...

Physician practices across the country stayed busy throughout the second quarter of 2022, as physician productivity and revenues all rose with higher patient volumes between the first...

Physician practices nationwide had a busy start to 2022, as physician productivity, compensation, and revenues all rose with higher patient volumes from Q4 2021 to Q1 2022.