MedAxiom Issues Annual Cardiology Compensation and Production Survey Report

September 1, 2021—MedAxiom, an American College of Cardiology company that provides cardiovascular organizational performance solutions, announced the release of its ninth annual Cardiovascular Provider Compensation and Production Survey Report. The report is powered by MedAxcess, the company’s database and business intelligence application.

According to MedAxiom, the report shows trends across cardiology, surgery, advanced practice providers (APPs), and nonclinical compensation, and suggests the true impact of the COVID-19 pandemic on cardiovascular programs in 2020.

In addition to highlighting comparisons between private and integrated models, the 2021 report features new panel size metrics for workforce planning. Data for the 2021 report were collected in the 2008 to 2020 timeframe and include 188 cardiovascular groups, representing 4,982 total cardiovascular providers, including 2,565 full-time cardiovascular physicians and 1,935 APPs.

The report can be obtained via the MedAxiom website here.

MedAxiom outlined the report’s key findings as follows:

• Cardiology production was significantly down but cardiology compensation fared well in 2020. Private group cardiologist compensation rose.
• New patient volumes were the lowest in the past 5 years because of the pandemic.
• The market value of cardiac surgeons continues to rise; compensation has increased by 39% since 2016.
• A new patient panel measure shows a downward trend for median physician Full-Time Equivalent per 1,000 active patients, which suggests that the cardiology community is moving more care to APPs as part of its clinical strategy.

Joel Sauer, MedAxiom’s executive Vice President of Consulting, is the author of the report. He commented in the company press release, “The COVID-19 pandemic has rocked the health care industry requiring cardiovascular programs to rapidly adapt to the everchanging environment. The 2020 data showcased in this report are particularly interesting, revealing how challenging the pandemic was for cardiovascular program volumes in 2020 and the significant impact of CARES Act monies and other federal support on provider compensation.”

Jerry Blackwell, MD, MedAxiom’s President and Chief Executive Officer, added, “Data are at the heart of MedAxiom. For 20 years, MedAxiom has been transforming cardiovascular care by driving the data revolution. 2020 was an unprecedented year resulting in a sea change that will impact the cardiology industry for years to come. MedAxiom’s Cardiovascular Provider Compensation and Production Survey Report— designed for cardiology, by cardiology—arms programs with actionable data and unparalleled insights to thrive in the new normal and transform care.”