COMP NEWS – A new compensation and productivity survey has been released for Advanced Practice Providers, signaling that salaries and benefits in these professions are on the rise.
CHICAGO–(BUSINESS WIRE)–SullivanCotter, the nation’s leading independent consulting firm in the assessment and development of total rewards programs, workforce solutions, and data products for health care and nonprofits, has released its 2023 Advanced Practice Provider Compensation and Productivity Survey report.
The 2023 report revealed that APP compensation has continued to grow across all specialties. While 2022 saw higher-than-normal growth in primary care and hospital-based specialties, the 2023 results show larger increases for primary care, medical and surgical specialties (each at 5%) and modest growth for hospital-based specialties (2.5%) for both base and total cash compensation (TCC).
Although this year’s increases are more in line with historical APP compensation increases, the 3-year trends reflect a continuing market demand for these clinicians. Median TCC for nurse practitioners and physician assistants rose 13.0% for primary care, 10.2% for medical, 9.4% for surgical, and 10.9% for hospital-based specialties from 2020-2023.
Consistent with the past several years, the demand for anesthesiology providers remains high, which continues to put upward pressure on compensation. Certified Registered Nurse Anesthetists (CRNAs) saw a 9.6% increase in median TCC in 2023. In looking at the 3-year trends for CRNAs, median TCC rose 15.6% from 2020-2023, andmedian hourly rates increased from $89.62 in 2020 to $102.91 in 2023.
According to the survey, a chief motivator for organizations to evolve their approach to compensation in an effort to minimize burnout among employees.
APP compensation programs continue to evolve to include an increased focus on work effort, schedule burden, and premium pay to minimize burnout while meeting coverage needs. Similarly, organizations are taking a closer look at how APPs practice within a team-based care model. “While state practice acts can drive APP scope of practice, hospital bylaws often impose additional restrictions. Ideally, pay practices are structured to support optimal use of all members of the care team,” said Hartsell.
There is increased pressure to remain market competitive with pay, resulting in annual (or more frequent) market reviews, narrower ranges and quicker time-to-range median and max.
“In addition to compensation, organizations should evaluate care delivery models and how APPs are utilized as this can be a significant driver of turnover, regardless of compensation level. Adding APP leadership roles can help organizations ensure APPs have the appropriate scope of practice and improve APP recruitment and retention,” said Hartsell.
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