Here are four takeaways from new research on inflation and compensation published by the Medical Group Management Association, which pulled data from nearly 190,000 providers across more than 6,800 organizations:
- Provider compensation increased, with primary care physicians receiving the biggest increase of 4.41 percent over the last year.
- The consumer price index rose 6.5 percent, exceeding most gains in physician compensation.
- Growth in median total compensation for primary care physicians doubled from 2.13 percent in 2021 to 4.41 percent in 2022.
- However, the increase in physician compensation couldn't overtake the inflation rates of 7 percent in 2021 and 6.5 percent in 2022.