The demand for Physician Assistants (PA-C) and Nurse Practitioners (NP) is set to rise significantly, driven by factors such as the promotion of preventative care, the aging population, and the scarcity of physicians. Our May post, Physician Assistants and Nurse Practitioners May Ease Projected Physician Shortage, explains more about this.
Medscape.com has just published a new slideshow on the state of compensation for 2024. Knowing that not all of our readers are subscribers with access to the full report, we wanted to share some key takeaways.
- Overall compensation for PAs rose 6% from the previous year
- 53% of PAs felt they were fairly paid, compared to 50% previously
- Operating room/Surgery offered the highest average salary ($156K) with an 8% increase in pay, year over year
Stephanie Doty, National Director of Sales and Recruitment of Healthcare Recruiters International, emphasizes the need to consider more than just salary surveys when understanding salary requests and billing potential. She points out, “When employers are workforce planning, it is pertinent to have a pulse on the current advanced practice provider’s salary requests and billing potential. Relying solely on salary surveys can leave employers in the dark and with long-term vacant positions.”
Stephanie also points out that it is significant for the NP or PA to understand their bonus structures. “There’s room for negotiation with some contracts. They need to ask questions like, “Does the practice have enough patients to make the bonus?” Additionally, they should ask “How many other advanced practice providers are making their bonus?”
Finally, Stephanie commented, “Surveys often omit the creative compensation employers add to secure the NP / PA placement, such as a sign-on bonus, retention bonus, merit-based increase, creative RVU structures, and flexible scheduling options.”
Are you looking for an advanced practice provider position? Or need help finding top talent? Finding the right match is what we do. Apply for a job or simply reach out to HealthCare Recruiters today.
