Average annual hospital revenue generated by psychiatrists increased 1% from 2010 to 2013, bucking the trend of declining revenue among specialists, according to a survey by physician job placement firm Merritt Hawkins.
Average revenue of $1.3 million was reported for psychiatrists in 2013, up from $1.29 million in 2010.
That small rise compares favorably with revenue decreases reported for all specialists (–9.7%) and all physicians (–6.2%). Hospital revenue generated was $1.42 million for all specialists in 2013. The specialists’ average is the lowest Merritt Hawkins has reported since it started the survey in 2002, the report noted.
The average net revenue generated for all physicians was $1.45 million – down from 1.54 million in 2010 and, again, the lowest average since the survey began, Merritt Hawkins said in its analysis.
The survey was sent to 5,500 hospitals in January 2013 and was completed by 102 hospital chief financial officers.
