Provider pay increased by 4.9% across specialties in 2024, survey finds
A new survey from the American Medical Group Association (AMGA) found that provider pay increased in 2024, at an average rate of 4.9% across the board, with variations seen across specialties.
AMGA, a trade group representing health systems, surveyed its members on physician and advanced medical provider pay for its annual Medical Group Compensation and Productivity survey, finding that median compensation increased from $311,666 to $329,780 from 2023 to 2024, with primary care providers taking home the largest increase, 5.7%.
Many specialists also saw a pay raise, albeit less, with the average increase for cardiologists, ENTs, OB/GYNs and others coming in at around 4% at the median. Those that perform specialty surgeries, however, only saw a pay raise of 3.7%—slightly lower than their nonsurgical peers.
Zooming in, medical doctors and advanced care providers who focus on radiology, anesthesiology and pathology took home on average 5.1% more on the year, beating other clinical specialties.
Overall, the results show, doctors are earning more for hours worked. According to the AMGA, providers saw a 3.2% increase in compensation per billed hour. This indicates a slowdown in the pay decline relative to relative value units (RVUs)—a billing metric that factors in time spent delivering care as well as resources and expertise. RVUs spiked during COVID-19 but have since dropped.
NP and PA compensation rising
The survey is based on data from 185,000 providers and 2,000 executives spanning 482 medical groups, all from AMGA members, taking into account 183 physician and advanced practice provider specialties and salaries, including bonuses.
Per the results, advanced care providers of all care specialties continue to take on more work at health systems. While compensation does not match their MD peers, nurse practitioners and physician assistants did see an overall pay increase of between 2023 and 2024, comparable to the rise in physician pay.
However, the rising cost of care and overall inflation do eat into gains, as the cost of living for many likely increased more than commensurate pay. But, in general, the increase of income shows payers and medical groups are paying more for care when measured against hours worked.
“In today’s highly challenging healthcare provider marketplace, medical groups continue to feel inflationary pressure as they navigate rising costs,” Coppola said in a statement. “The limited growth in net collections combined with increasing compensation has created a scenario where over the past eight years—2017-2025 survey years—the average annual compensation change for top specialties outpaces the annual change in collections,” Mike Coppola, the COO of AMGA Consulting, said in a statement.
Coppola added that the rise in compensation is driven largely by a demand for talent, as many health systems grapple with provider shortages.
“Amid these evolving dynamics, one constant remains: We expect to continue to see strong demand for provider talent across many physician and ambulatory payment classification specialties. In our opinion, this trend will continue to lead to analogous compensation increases for providers,” he said.
The full survey is available here.
Chad is an award-winning writer and editor with over 15 years of experience working in media. He has a decade-long professional background in healthcare, working as a writer and in public relations.