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Cardiology Compensation and Production Reflect Post-Pandemic Changes to Provider Market
2024 MedAxiom Cardiovascular Provider Compensation and Production Survey Report Aggregates Data on Private vs. Integrated Practice, APP to Physician Ratios, Patient Volumes and Subspeciality Considerations
2024 MedAxiom Cardiovascular Provider Compensation and Production Survey Report Aggregates Data on Private vs. Integrated Practice, APP to Physician Ratios, Patient Volumes and Subspeciality Considerations
MedAxiom News
NEPTUNE BEACH, Fla. – MedAxiom, the premier source for cardiovascular organizational performance solutions, has released its 2024 Cardiovascular Provider Compensation and Production Survey Report that includes data from the largest number of programs since its debut. The report features a foreword from MedAxiom President and CEO Jerry Blackwell, MD, MBA, FACC, on the post-pandemic changes to the provider market through shifting practice ownership models, provider compensation and production trends, and the growing importance of team-based care.
2024 Report Highlights:
1. Nearly 50% of all private practice groups were also part of a private equity portfolio, up from zero a few years ago.
2. For the first time in over a decade, invasive cardiologists were the top earners in both private and integrated ownership cohorts in median total compensation, with electrophysiology, invasive and interventional cardiologists all exceeding $700,000 per full-time physician.
3. The median compensation for private practice advanced practice providers (APPs) ($126,583) pulled ahead of compensation for APPs in integrated programs ($122,873).
4. Responses to the 2024 survey reflect the expanding diagnostic role of advanced imaging in cardiology as witnessed by the increase in the ratio of advanced imaging to cardiac catheterizations (caths) with the median doubling over five years.
“As cardiovascular leaders are faced with challenging questions about how to best deliver care in the future, an accurate map of the current cardiovascular ecosystem is indispensable,” said Blackwell. This map is generated by data from MedAxcess, the cardiovascular industry’s leading business intelligence application and proprietary database.
“MedAxcess, which powers the survey, is more than the data source for this annual report,” said Karen Wilson, MHA, MedAxiom’s vice president of Member Services and a report co-author. “It is a dynamic database and powerful tool that supports informed decision-making and drives cardiovascular care transformation.” Several upgrades to MedAxcess have been implemented in the past year to streamline the data submission and reporting experience.
The 2024 report includes 2023 data collected from 202 cardiovascular programs representing 5,663 total cardiovascular providers.
The full report is available here.
About MedAxiom
MedAxiom, an American College of Cardiology Company, is the cardiovascular community’s premier source for organizational performance solutions. MedAxiom is transforming cardiovascular care by combining the knowledge and power of hundreds of cardiovascular organization members, thousands of administrators, clinicians and revenue cycle experts, and dozens of industry partners. Through the delivery of proprietary tools, smart data and proven strategies, MedAxiom helps cardiovascular organizations achieve the Quadruple Aim of better outcomes, lower costs, improved patient experience and improved clinician experience. For additional information, visit MedAxiom.com.
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