Sift through Internet benchmark data to uncover the numbers your practice really needs for comp planning
In business, having strong personnel is one of the best ways to enhance or sustain a competitive advantage. For practices, that means hiring the best physicians to optimize income. To build this core group of physicians, you need to offer a competitive, if not superior, salary. To determine what salary to offer, conduct an internal compensation assessment and then compare that data to information in an independent survey (e.g., the MGMA Physician Compensation and Production Survey). These outside compensation surveys are more than mere benchmarks.
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