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Physicians and Medical Practices

SIC 8011 | NAICS 621111

The following guide to industry information, research, and analysis provides sources for industry trends and statistics, financial ratios, salary surveys, and more.

Select from the following page sections or scroll below to see a complete listing of available resources:

Industry Analysis, Statistics, Trends, and Forecasts

Financial Information and Financial Ratios

Compensation and Salary Surveys

Business Valuation Resources


For resource guides specific to other industries, see our index which lists resource guides by SIC code for over 400 industries.




Industry Analysis, Statistics, Trends, and Forecasts


Primary Care Doctors  (view report)
Specialist Doctors  (view report)
Health Practitioners  (Individual reports cover over 30 specialties)

Comprehensive research reports provide in-depth industry analysis and five-year growth forecasts, with special focus on the underlying structure and external forces and relationships that affect industries and their performance. Report contents include:

Sample report is available online.

American Medical Association
American Medical News
http://www.ama-assn.org/amednews/
Online weekly publication features news and information for the medical profession, with a focus on social, economic, and practice-oriented topics such as government healthcare programs, healthcare reform, legal and regulatory issues, practice management trends, and more. Current and prior issues can be viewed free online.

Advanstar Communications, Inc.
Modern Medicine Magazine
http://www.modernmedicine.com/
Professional trade publication features news and information for the medical profession, with business section topics including business operations, practice management, human resources, liability and risk management, health care information technology, and more. All articles can be viewed free online.

Physicians / Anesthesiologists / Cardiologists / Dermatologists
General Surgeons / OBGYNs / Oncologists / Pediatricians

http://www.firstresearch.com

First Research profiles cover key aspects of an industry's size, scope, and operations, recent news and developments, business challenges, issues, trends, and opportunities, and include a five-year revenue growth forecast. Profiles are updated quarterly and include:

Sample report is available online.

U.S. Bureau of Labor Statistics
Occupational Outlook Handbook - Physicians and Surgeons
http://www.bls.gov/physicians-and-surgeons.htm
Information provided for this occupational category includes a description of the nature of the work and the work environment, number and types of jobs, education and training requirements, wages and earnings, employment outlook, and sources for additional information. All information is available free online.

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Financial Benchmarking Data


Industry Financial Ratios
Physicians - General Practitioners and Specialists
http://www.bizminer.com  Search for "621111" (see listing for specific specialties)
Five-year comparative financial statement analysis includes income statements with expense detail, balance sheets, cash flow statements, and key financial and operating ratios, with detailed analysis available by sales size range on a national, state, and metropolitan area level. Sample reports are available online.

American Medical Group Association
Medical Group Compensation and Financial Survey
https://ecommerce.amga.org/
Compensation and productivity data for physicians and salary data for administrative personnel are reported by specialty or administrative position, as appropriate, with additional breakdowns by group size and geographic region. Financial operations section provides staffing profiles, staff compensation, and operating cost data on a per physician and per square foot basis with additional breakdowns by specialty, managed care revenue percentage, group type and size, and geographic region.

Medical Group Management Association
Information resources available from this organization include:

Physician Compensation and Production Survey
http://www.mgma.com/pm/article.aspx?id=28798
Annual survey covers over 100 specialties with compensation data reported by specialty, practice setting, years in specialty, compensation method, and geographic region, and productivity data including gross charges, collections for charges, and compensation to collections ratios. Detailed table of contents can be viewed free online.

Cost Survey
http://www.mgma.com/pm/default.aspx?id=29008
Annual cost survey provides detailed data on staffing ratios and operating costs, with cost data reported as a percentage of revenue and on a per physician and per square foot basis, and also includes performance measures for gross charges, accounts receivable, collection percentages, and more. Survey is available in multi-specialty and single-specialty versions; detailed table of contents can be viewed free online.


Practice Support Resources, Inc.
Practice Management STATS Quick Reference
http://www.practicesupport.com/  select "Benchmarks/Surveys"
Annual survey provides practice benchmarks for charges, collections, accounts receivable, expenses, compensation, and more for 10 physician specialties by region, and includes a CD with an Excel spreadsheet for comparative analysis.

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Compensation and Salary Surveys


Medical Economics
Physician Earnings Survey
http://www.modernmedicine.com/  Search for "earnings survey"
Annual earnings survey provides earnings data by age, gender, region, and other measures, with a primary focus on primary care providers including family/general medicine practitioners, internists, and pediatricians. Survey is available free online.

American Academy of Family Physicians
Facts About Family Medicine
http://www.aafp.org/facts.html
Data tables included in this section cover a variety of statistical measures including mean and median net income, hours worked, patient visits, patient insurance coverage, Medicare and Medicaid participation, and more. All information is available free online.

American Medical Group Association
Medical Group Compensation and Financial Survey
https://ecommerce.amga.org/
Compensation and productivity data for physicians and salary data for administrative personnel are reported by specialty or administrative position, as appropriate, with additional breakdowns by group size and geographic region. Financial operations section provides staffing profiles, staff compensation, and operating cost data on a per physician and per square foot basis with additional breakdowns by specialty, managed care revenue percentage, group type and size, and geographic region.

Medical Group Management Association
Information resources available from this organization include:

Physician Compensation and Production Survey
http://www.mgma.com/pm/article.aspx?id=28798
Annual survey covers over 100 specialties with compensation data reported by specialty, practice setting, years in specialty, compensation method, and geographic region, and productivity data including gross charges, collections for charges, and compensation to collections ratios. Detailed table of contents can be viewed free online.

Physician Placement Starting Salary Survey Report
http://www.mgma.com/pm/article.aspx?id=28798
Survey data includes starting salary information categorized by specialty, group type and ownership, and geographic region, and also includes additional information on signing bonuses, relocation expenses, first year vacation, and paid time off for continuing education. Detailed table of contents can be viewed free online.

Management Compensation Survey
http://www.mgma.com/pm/article.aspx?id=28996
Annual survey provides compensation data for practice management personnel by group type and size, total annual revenue, and geographic location, with additional breakdowns for other factors which affect compensation such as payment methods, education, experience, and credentials. Detailed table of contents can be viewed free online.


The Health Care Group
Information resources available from this organization include:

Staff Salary Survey
http://www.thehealthcaregroup.com/  Select "Products - Annual Surveys"
Survey provides nationwide salary data for 37 key office positions organized by position, years of service, and locale, and also provides data on benefits and turnover rates.

Physician Starting Salary Survey
http://www.thehealthcaregroup.com/  Select "Products - Annual Surveys"
Survey reports three initial years of salary and incentive information categorized by year, specialty, and location, and also includes information on co-ownership provisions, benefits, and restrictive covenants.


Hospital & Healthcare Compensation Service
Physician Salary & Benefits Report
http://www.hhcsinc.com/hcsreports.htm
Covers salary and bonus data on 44 physician specialties, chief of staff/medical director, interns and residents. Data reported according to: 9 regions, nationally, bed-size, hospital-based, HMO, or group practice status.

Merrit Hawkins & Associates
Physician Salary, Compensation, and Practice Surveys
http://www.merritthawkins.com/compensation-surveys.aspx
Surveys cover subjects such as physician compensation and benefits, starting salaries, practice characteristics, revenue generation, and other related topics. All surveys are free online.

Sullivan Cotter and Associates, Inc.
Physician Compensation and Productivity Survey
http://www.sullivancotter.com/
Annual compensation survey provides physician compensation and productivity data for over 200 specialties, with survey data broken out by type of organization, specialty, and geographic location. Survey also includes compensation information for medical group executives, program directors, medical directors, division chiefs, and department chairs.

U.S. Bureau of Labor Statistics
Occupational Outlook Handbook - Physicians and Surgeons
http://www.bls.gov/physicians-and-surgeons.htm
Information provided for this occupational category includes a description of the nature of the work and the work environment, number and types of jobs, education and training requirements, wages and earnings, employment outlook, and sources for additional information. All information is available free online.

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Business Valuation Resources


The Health Care Group
Goodwill Registry
http://www.thehealthcaregroup.com/  Select "Products - Annual Surveys"
The Goodwill Registry compiles transaction data on the intangible values of medical, dental, and other health care practices. Each reported transaction includes location, purpose, gross income, overhead percentage, and goodwill value in both dollars and as a percentage of gross income. Individual specialty information is also available for purchase separately online in the "Products - Goodwill Registry Online" section.

Valuing Professional Practices and Licenses:
A Guide for the Matrimonial Practitioner

Part C: Valuing Medical and Dental Practices
Ronald L. Brown (Editor), Aspen Publishers, supplemented annually
http://www.aspenpublishers.com/
Loose-leaf guide contains over 45 chapters focused on valuing professional practices and professional degrees and licenses for divorce purposes. Detailed table of contents and searchable text can be viewed free online using "Google Preview" feature.

Valuation of a Medical Practice
Tinsley, Sides, and Anderson, John Wiley & Sons, 1999
http://www.amazon.com/
Text addresses regulatory issues and other special issues which affect the valuation of a medical practice with separate chapters on capitalization rates, valuation methods, the site visit and owner interview, completing the valuation process, and sample reports. Searchable text preview available free online.

Medical Practice Valuation Guidebook
Mark Dietrich, Windsor Professional Information
http://www.cpa.net/publications/
Comprehensive guidebook to medical practice valuation covers a wide range of topics including understanding physician revenue and compensation, choosing and using the right valuation methods, dealing with special situations and circumstances, sample report, and more. Detailed table of contents is available free online.

BVR/AHLA Guide to Healthcare Valuation
Valuing Physician Practices
Business Valuation Resources, LLC, updated annually
http://www.bvresources.com/
Comprehensive guide to healthcare valuation includes sections focused on valuing physician practices and valuing physician services and relationships with hospitals. Detailed table of contents can be viewed free online.

BVR's Guide to Physician Practice Valuation
Business Valuation Resources, LLC, updated annually
http://www.bvresources.com/
Topics covered include guidance on valuation methods to use, the impact of supply and demand on value, medical accounts receivable, benchmarking practice performance and physician compensation, and more. Detailed table of contents can be viewed free online.

Assessing the Value of the Medical Practice
John P. Reiboldt, American Medical Association, 2004
http://www.amazon.com/
Topics covered include the valuation process, methods, and guidelines, managing the appraiser-client relationship, regulatory issues in valuing health care entities, and maximizing the value of a medical practice.

Medical Group Management Association
Buying, Selling, and Merging a Medical Practice
http://www.mgma.com/store/
Publication addresses various aspects of buying, selling, or merging a practice, with topics covered include understanding valuation concepts, valuing equipment and other tangible assets, valuing goodwill using various methods, legal and tax considerations, performing due diligence, and more. Table of contents can be viewed free online.

CCH Business Valuation Guide
Chapter 25 - Medical Practices
Hawkins, Paschall, CCH, annual
http://www.businessvalue.com/cchbook.htm
Chapter 25 addresses issues and factors to be considered in performing valuations for family practice, internal medicine, pediatrics, obstetrics and gynecology, occupational medicine, ophthalmology, anesthesiology, nephrology, and urology practices.

The Handbook of Business Valuation
Chapter 24 - Valuing Medical Practices
Thomas L. West and Jeffrey D. Jones, John Wiley & Sons, 1999
http://www.amazon.com/
Handbook includes a number of chapters which address valuation issues for specific industries, with Chapter 24 covering medical practices. Chapter contents can be previewed free online using Amazon.com's "Look Inside" feature.

Small Business Valuation Formula Multiples
Medical Practices
http://valuationresources.com/

Comprehensive reference guide provides market-based business valuation multiples for small businesses in more than 200 industries. Valuation multiples are derived from actual business sales transactions as reported by BIZCOMPS®, with the primary focus on small companies priced at less than $1 million.


BVMarketData
Private Company Sales Transactions
Pratt's Stats® | BIZCOMPS®
Free "Visitor Search" allows users to search private company sales transactions by business description for comparable business sales transaction data, including revenue, earnings, and EBITDA multiples.


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