September 26, 2022 – Compensation has been a hot button topic in the healthcare industry in recent years, mostly in regard to the heavy toll inflicted by the coronavirus pandemic. Healthcare workers have faced innumerable challenges in the last couple of years, ranging from inadequate materials to protect themselves on the front line to the Great Resignation depleting the staffing reinforcements. In an effort to improve retention for healthcare organizations, providers have had to raise the salaries for employees almost across the board.
A recent report from the Medical Group Management Association (MGMA) – the nation’s largest association focused on the business of medical practice management – shows that the salaries and wages of healthcare workers who have worked through the challenges of the pandemic are rising. The 2022 edition of MGMA DataDive Management and Staff
According to the report, there have been several key trends that MGMA has seen in the healthcare industry in the last few years. Based on the findings from the report, these trends include:
- Compensation rising for management
- Compensation for executive management positions has increased by 19.73% from 2019 to 2021
- Those at the senior management level saw a compensation increase of 5.07% between 2019 and 2021.
- General management positions saw a compensation increase of 4.28% from 2019 to 2021.
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