BFMV is pleased to present our newest resource for the healthcare industry. We researched publicly reported information regarding amounts paid to physician directors and executives in a broad range of clinical specialties, types of organizations, and geographical regions using Internal Revenue Service (“IRS”) Form 990 data for nonprofit organizations across the country. Form 990s include compensation data for officers, directors, trustees, and key employees of a nonprofit organization whose reportable compensation from the organization and related organizations exceed certain thresholds for the tax year. To provide a more informational and accurate report, BFMV supplemented Form 990 data with its research on the physician leaders’ duties, responsibilities, clinical specialties, and employer characteristics.
Publicly available IRS Form 990 data from 2020 and 2021 were used in this study. Reported compensation amounts for physician executives (MD or DO) were considered, and BFMV confirmed physician credentials through online sources. Outlying data points for which no explanation could be discovered were removed. Additionally, BFMV confirmed physician specialties online and adjusted part-time compensation to full-time equivalents based on 990 reported hours worked per week. Benchmark percentiles were calculated for categories with five (5) or more discrete data points.
The 2023 Physician Leaders Compensation Report reflects compensation for 3,462 physician leaders categorized into 16 leadership positions, 7 revenue categories, 39 clinical specialties, 13 organization types, and by state. The categorization process included our review of organizational information in 990 data and research on individual physician leaders included in the study. Average, median, and 25th, 60th, 75th, and 90th percentile benchmarks are presented for each category.