Hospitals and medical groups can directly calculate the economic impact of services provided by their staff physicians, according to a recent survey conducted by Jackson & Coker, a Georgia-based nationwide physician staffing company.
More than 5,000 hospital administrators from every major hospital and medical center in the United States were surveyed, according to Jackson & Coker. Questions sought to discover the amount of revenue gained or lost with the addition or loss of one FTE in a given medical specialty, including radiology, cardiology, general surgery and pediatrics, among others. Data was compiled in a “slide rule” format that correlates average annual compensation with estimated revenue generation.
“The survey provides a valuable tool for hospital administrators to acquire an overall picture of what the average return on investment (ROI) is per specialty per physician in terms of revenue generation,” said Tim Sheley, executive vice president of Jackson & Coker’s Retained Division.