PYA, a national healthcare consulting and public accounting firm, has released a new infographic and supplementary study on the supply and demand for hematologist/oncologists and market trends related to physician compensation.
With the growth of the elderly population and an increasing number of new cancer cases, the demand for hematologist/oncologists is on the rise. Yet, as a large number of oncologists retire, a shortage of these specialists is projected by 2025. What do the combination of these factors mean for serving this patient population, and what effect does this have on physician compensation? PYA’s newly released Spotlight on Hematology/Oncology Infographic and accompanying Compensation Study aim to address these questions.
“The demand for hematologist/oncologists is driven by a variety of factors,” said PYA Principal Tynan Kugler. “In addition to general and elderly population growth, there often is uneven distribution of oncology resources. And, when you take into consideration the number of physicians ‘aging out’ of practice, there becomes a ‘perfect storm’ of shortfall and need. The data outlined in our infographic and study point to a correlation between supply and demand and the year-over-year physician compensation increases we see in the market as a potential indication of efforts to bridge the gap.”
With additional detailed explanation and charts, the study demonstrates compensation trends in hematology/oncology and physician productivity measurements. The data suggests that while physician compensation and productivity for hematologist/oncologists are increasing, that increase is moderate in comparison to the low supply and high demand for this physician specialty.
PYA provides independent and objective valuation and consulting services, including more than 1200 fair market value opinions each year. PYA works with hospitals, health systems, and other such organizations negotiating compensation arrangements in many specialties, including hematology/oncology. PYA’s team of valuation experts supports clients’ many needs, including physician employment arrangements, professional services arrangements, medical directorships, call coverage, and arrangements associated with various acquisitions and/or affiliations.