Family Doc Finds Mid-Level Providers Increase Revenue
Case study describes substantial increase in doctor take-home pay with addition of mid-levels
MONDAY, Nov. 25, 2013 (HealthDay News) -- Hiring mid-levels -- physicians assistants and nurse practitioners -- can improve productivity, resulting in increased physician take-home pay, according to an article published Nov. 10 in Medical Economics.
Certified health care business consultant H. Christopher Zaenger describes the case of a family physician and sole owner of a family medicine practice in Waukegan, Ill., who was earning $100,000 more than average using one full-time-equivalent physician assistant.
Following consultation and the decision to hire two more physician assistants, the physician's take-home pay increased by 29 percent. Following implementation of a productivity incentive program resulting in a huge boost in the mid-level support staff productivity, his take-home income in 2013 will be more than double what he earned in 2010. The physician is set to add a nurse practitioner to help with care coordination and implementation of the patient-centered medical home tools within the electronic health record.
"The bottom line is that mid-level providers, if productive, do not cost a practice anything and can actually increase revenue," Zaenger writes. "Mid-levels may be the best way to expand your practice, increase the amount of net income per square foot of space, and provide you with a lifestyle that creates more freedom of choice."