As the U.S. baby boomer generation ages, the demand for cardiologists serving this patient population is increasing. PYA has created a new infographic, Fair Market Value Compensation: Spotlight on Cardiology, and accompanying Compensation Study examining the demand for cardiology services, the supply of cardiology providers, and the clinical and administrative compensation in this specialty.
“Older and fewer physicians specializing in cardiology, coupled with the aging of baby boomers and gravitation toward practice in urban areas, will continue to exacerbate shortages in physician services in the specialty of cardiology, especially in rural areas, over the next decade,” said PYA Principal Lyle Oelrich. “The data outlined in the infographic and study demonstrates some of the interrelationship between supply and demand and the impact on physician compensation.”
The study includes additional detailed explanation and charts demonstrating compensation trends in non-invasive and invasive/interventional cardiology and physician productivity measurements. The data presented supports the idea that physician productivity remains relatively stable while compensation has increased, and that a number of factors are influencing cardiology compensation beyond physician productivity.
PYA provides independent and objective valuation and consulting services, including more than 1200 fair market value opinions each year, for a broad range of healthcare organizations. Our work in the field of cardiology, which includes general cardiology, pediatric cardiology, cardiovascular surgery, and cardiothoracic surgery, averaged nearly one fair market value compensation determination each week over the last two years.
PYA’s team of valuation experts supports clients’ many needs, including physician employment arrangements, professional services arrangements, medical directorships, call coverage, and many other types of arrangements associated with various acquisitions and/or affiliations.