Latest Takeaways

July 20, 2023
Quality & Safety
"While reimbursement for primary care is set to increase in 2024, a proposed rule by CMS would decrease overall payment rates for physicians. Opponents of the rule argue that generally, the physician fee schedule has not kept up with inflation."

Executive Summary

Updated: July 7, 2023

  • Hiring in the hospital and nursing/residential care sectors was very strong based on preliminary June numbers. Ambulatory care hiring rose but the increase was well below the sector's two-year average. Within that sector, home healthcare services hiring remained very strong and accounted for about 63% of ambulatory care hiring.

  • The pay gap between CEOs and other executives has grown from around $500,000 in 2012 to $900,000 in 2022. Overall, CEO compensation increased by 71.52% during that time. There was minimal change between 2020 and 2021.

  • Median physician compensation across all specialties is $433,066. Those in orthopedic, invasive cardiology and plastic surgery practices receive the highest compensation, on average, ranging from $400,000 to $700,000 annually, while those practicing pediatric and family medicine make the least, between $230,000 and $300,000 a year. 

  • Nursing and residential care facilities have around 318,000 fewer workers than they did pre-pandemic, while hospitals have 28,600 more employees. 


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