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First-year primary care physicians earned more in single-specialty practices than as part of multispecialty practices, according to a new study from the MGMA.
First-year primary care physicians (PCPs) earned more in single-specialty practices than as part of multispecialty practices, according to a new study from the Medical Group Management Association (MGMA).
PCPs received a median first-year guaranteed salary of $165,000 in multispecialty practices and $172,400 in single-specialty practices. The reverse was true for first-year specialists. They earned a median first-year guaranteed salary of $258,677 in multispecialty practices and $240,596 in single-specialty practices, according to the 2010 data.
The MGMA report shows that location also plays a role in first-year earnings. Median first-year compensation was the same for PCPs in the East, Midwest, and South, at $170,000 per year.
Other findings: 56% of physicians received signing bonuses, and 12% received loan forgiveness packages as part of their employment offers.