Physician groups across the country continued to see key performance metrics return to near pre-pandemic levels in the first quarter of 2021, suggesting an end to the volatility driven by COVID-19 that rocked practices throughout 2020.
Key findings from the June report on Q1 2021 data include:
- Median Investment/Subsidy per Physician FTE was down 16.3% from a high of $286,089 in Q2 2020
- Physician Compensation per FTE rose 7.3% in Q1 2021 compared to the fourth quarter of last year and was up 10.9% from a low in Q2 2020
- Net Revenue per Physician FTE was $575,113 in the first quarter, up just 1% from the fourth quarter of last year
- Physician wRVUs per FTE increased 2.8% from Q4 2020 and 32.4% from Q2 2020 lows
- Total Direct Expense per Physician FTE was up 4.4% from the fourth quarter of 2020, and up 12.8% from the second quarter of 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.
Read More from this Report Series
Physician Flash Report: April 2022
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.
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Physician Flash Report: January 2022
U.S. physician practices ended 2021 with sizeable gains in physician productivity and revenues relative to late 2020 performance, but mounting expenses and high levels of investments/subsidies required to support practice operations continue to be areas of concern.
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Physician Flash Report: October 2021
Physician activity came roaring back in the second and third quarters of this year, with physician productivity and revenues surpassing both 2019 and 2020 performance.
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