It's all about the patients. See more of them, practice the full scope of family medicine in the hospital setting and you'll likely increase your income.
Those are the conclusions that can be drawn from a 2004 survey of AAFP members published in the July/August issue of Family Practice Management.
Survey: More Patients, Services Predict Higher Incomes
By News Staff
8/8/2005
This story, when first posted, contained erroneous information that has since been corrected. AAFP News Now regrets the error.
The survey published in FPM, which is based on data from 2004, shows that the strongest influence on FP income is the number of patient visits per week. Family physicians with the highest incomes saw a mean number of 122 patients per week, compared with low earners, who saw 84 patients a week.
By comparison, the mean number of patients seen by AAFP members is 85, according to "2005 FACTS About Family Medicine."
The next greatest predictor of high income, according to the survey in FPM, is practicing the full scope of family medicine in the hospital setting.
The "2005 FACTS About Family Medicine" found that 82 percent of respondents had hospital admitting privileges; of those who did not, 28 percent had consulting or courtesy privileges. Of the FPs with admitting privileges, almost 23 percent provided routine obstetrical deliveries, almost 62 percent provided newborn care, 70 percent provided pediatric care, almost 37 percent provided formal interpretation of electrocardiographs, 20 percent provided flexible sigmoidoscopy and almost 18 percent provided colposcopy.
Other factors associated with increased income:
By comparison, the mean number of patients seen by AAFP members is 85, according to "2005 FACTS About Family Medicine."
The next greatest predictor of high income, according to the survey in FPM, is practicing the full scope of family medicine in the hospital setting.
The "2005 FACTS About Family Medicine" found that 82 percent of respondents had hospital admitting privileges; of those who did not, 28 percent had consulting or courtesy privileges. Of the FPs with admitting privileges, almost 23 percent provided routine obstetrical deliveries, almost 62 percent provided newborn care, 70 percent provided pediatric care, almost 37 percent provided formal interpretation of electrocardiographs, 20 percent provided flexible sigmoidoscopy and almost 18 percent provided colposcopy.
Other factors associated with increased income:
- being in larger practices;
- providing in-house clinical lab services, physical and occupational therapy, and imaging services;
- focusing on negotiations and evaluating contracts with payers;
- participating in quality improvement, marketing, strategic planning and benchmarking;
- having in-house billing and collections;
- seeing more Medicare patients;
- working more hours;
- basing income on productivity; and
- planning to purchase an electronic health records system.
