With the growth of the elderly population and an increasing number of new cancer cases, the demand for hematologists/oncologists is on the rise. Yet, as a large number of oncologists retire, a shortage of these specialists is projected by 2025. What does the combination of these factors mean for serving this patient population, and what effect does this have on physician compensation?
PYA’s updated Spotlight on Hematology/Oncology infographic addresses these questions and provides the most current statistics and information.
“The demand for hematologists and oncologists is driven by a variety of factors,” said PYA Senior Manager Marcy Cent. “In addition to general and elderly population growth, an uneven distribution of oncology resources often exists. And, when you take into consideration the number of physicians ‘aging out’ of practice, a ‘perfect storm’ of shortfall and need is formed. The data outlined in our updated infographic points 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.”
The updated infographic shows compensation trends in hematology/oncology and physician productivity measurements. The data suggests that while physician compensation and productivity for hematologists/oncologists are increasing, the 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 1,200 fair market value opinions each year, and works with hospitals, health systems, and other organizations negotiating compensation arrangements in hematology/oncology and many other specialties. PYA’s team of valuation experts supports clients’ needs, including physician employment arrangements, professional services arrangements, medical directorships, call coverage, and arrangements associated with various acquisitions and/or affiliations. Our executive contacts are happy to provide more information. Contact them via email or by calling (800) 270-9629.