Oncologists explore new models to prepare for shortage
Compensation for oncologists has remained relatively flat in recent years, primarily because of reimbursement constraints and fluctuating drug costs that have overshadowed other market forces. But pay rates may soon spike, thanks to a shortage of physicians that will make supply and demand a more influential driver of compensation and recruitment. Oncologists/hematologists earned a median of $359,140 in 2006, an insignificant 0.07% increase from 2005, according to MGMA's 2007 Physician Compensation and Production Survey. The compensation increase from 2004 to 2005 was modestly better at 2.46%.