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Hospital Review February 2015 • Vol. 2015 No. 2 What if We Were Wrong About the Physician Shortage? By Tamara Rosin For years, the medical community largely agreed the country faced a critical physician shortage, but many experts say the issue is a regional one requiring local solutions. Have national forecasts added more costs to the system? Healthcare Strategy 2015 — Back to the Basics: 12 Key Thoughts By Scott Becker Many strategies put forth today by professors and con- sultants resonate less and less with what is going on in the real world, what works and what is successful. Perhaps what we really need is a return to the basics of business and leadership. Between the new value-based care models, M&A activity and innova- tions in healthcare, it is valuable to track compensation to evaluate and compare how changes will affect physicians. Less physicians are strik- ing out on their own too. As hospitals look to attract new recruits, com- pensation data provides a valuable benchmark. In 2014, family physicians were the most in-demand specialty for recruit- ment for the eighth year in a row, according to Merritt Hawkins. This may reflect the current emphasis on primary care. To further illustrate this trend, primary care specialty com- pensation increased most on average, by approximately 3.8 percent, accord- ing to an American Medical Group Association report. Surgical special- ties increased 3 percent and other specialties by 1.8 percent. While most specialties saw an in- crease, compensation varies widely between specialty, healthcare setting and region. The following statistics provide a view of the current com- pensation landscape in healthcare. Note: Some of the following statistics may seem higher or lower compared with others in the same specialty. Sev- eral surveys were used to compile this report. Each specialty does not contain the same number of statistics because data was unavailable for some special- ties. More information is provided at the end of the report. continued on page 42 continued on page 28 continued on page 8 Inside: 20 Statistics on Executive Compensation p. 11 200 Statistics on Physician Compensation By Emily Rappleye SAVE THE DATE! Becker's Hospital Review Annual Meeting May 7-9, 2015 Swissôtel - Chicago, Illinois 153 Great Health System Executives Speaking 119 Sessions - 212 Speakers To learn more visit www.BeckersHospitalReview.com To register, visit www.regonline.com/hospitalreview6thannualmeeting INDEX Table of Contents p. 6 CFO Roundtable p. 15 Clinical Integration & ACOs p. 28 Health IT p. 35 Leadership & Management p. 42 CFO Roundtable Three financial leaders weigh in on compensation issues, priorities and their top concerns this year. p. 15 Waiting on the ROI The cost and administrative burden of health IT leads some to question its value compared to the time and energy spent on it. Here are three lessons to note. p. 35 It Takes a Village CEO José R. Sánchez took a grassroots approach to turn around Norwegian American Hospital in Chicago with the entire hospital staff and broader community. p. 52