Survey Says… What to Expect from the 2021 Market Survey Data
- September 14, 2021
Earlier this year, we published a blog post regarding the impact we were expecting with the release of 2020 compensation and production surveys. In short, the blog reviewed trends in compensation and production results from 2020 that we were examining for hospitals, health systems, and medical groups. Based on the data we were studying, many providers had their compensation protected in 2020 amidst the COVID-19 pandemic while simultaneously seeing large reductions to patient volumes, leading to lower wRVU productivity and a spike in compensation-to-wRVU ratios. Therefore, we posited that compensation survey benchmarks would likely experience an abnormally sizeable upward shift in compensation-to-wRVU ratios resulting from the impact of COVID-19.
The data is now available for several major national surveys, and broadly speaking, the results are as predicted. To demonstrate the survey results, we will focus much of this article on compensation and production measures averaged from the Medical Group Management Association (MGMA) and American Medical Group Association (AMGA).
Matthew Jensen, ASA