As competition for physicians continues to heat up, those looking to hire and retain physicians need to prepare themselves to offer more compensatory benefits.
According to the Medical Group Management Association's On-Call Survey: 2014 Report Based on 2013 Data, nearly twice as many doctors were paid for time devoted to being on-call this year than last – with some earning more than $1,000 per day.
More than 60 percent of providers reported receiving a daily stipend for taking call, a stark contrast to last year, wherein only 35 percent did. Additionally, primary care physicians saw their median daily on-call compensation rate soar in the past year, up to $250 in 2013 from the $150 claimed in 2012. PCPs in the western geographic section of the United States reported making as much as $1,103 per day in on-call compensation.
Even providers who were not monetarily rewarded for their on-call duties received some sort of benefit. Of the 37 percent of providers who said they received no additional compensation for taking on-call coverage, 33 percent reported being rewarded with time off.
Explore more of the survey's key findings – based on data collected from 2,513 providers across 252 medical organizations – in the infographic below.
This story is based on a report appearing on Medical Practice Insider.