NSCHBC releases 2010 Joint Statistics Report, detailing financial data from more than 6,000 physicians
Stats compiled from nearly 3,000 dental practices and medical groups in numerous specialties
Reston, Va., May 2, 2011 — The National Society of Certified Healthcare Business Consultants (NSCHBC) today announced the availability of its 2010 Joint Statistics Report.
The report, which is released annually, is based on 2009 data compiled from a survey of its members who work with hospitals, physician practices, multi-specialty groups, specialty practices and dental offices nationwide. The report highlights medical and dental income as well as expense averages from 58 dental and medical specialties, representing data from nearly 3,000 healthcare organizations and more than 6,000 FTE physicians and dentists.
Following are some of the key findings and trends gleaned from the report:
- Overhead as a percentage of collected revenue ranges from 58.43 percent for family practice physicians with obstetrics to 37.5 percent for anesthesiologists.
- Family and general practitioners as well as invasive cardiologists saw the highest increase in overhead percentages in 2009, rising more than 8 percent, while obstetrics and gynecology, pediatricians and anesthesiologists saw a slight decrease from 2008 to 2009.
- Pediatricians and family and general practitioners with obstetrics had the highest collection rates at 66.48 percent and 65.66 percent, respectively. This is likely resulting from the fact that they make the least, at $262,836 and $235,869, on average.
- Although billed charges dropped in 2009 across most specialties, collections were either flat or slightly higher, resulting from better collection rates.
In addition to the aforementioned findings, the report also showed net income of physicians who work with consultants, NSCHBC consultants in this case, is consistently higher than the Bureau of Labor Statistics U.S. Department of Labor mean salary for the same specialty. For example, for invasive cardiologists the range is 237.95 percent higher and 39.64 percent higher for family practice physicians who also practice obstetrics. Details on numerous practice expenses, including overhead percentages, average monthly charges in accounts receivable and full time equivalent staff ratios can be found in the report, which is broken down into specialty-specific overviews.
The National Society of Certified Healthcare Business Consultants is a national organization dedicated to serving the needs of consultants who provide ethical, confidential and professional advice to the healthcare industry. To learn more, visit www.nschbc.org.