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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, market research and analysis, financial ratios and salary surveys, and more.



For guides to other industries, see our index of over 400 industries.





Industry Analysis, Trends, Statistics, and Forecasts


Primary Care Doctors  (view report)
Specialists by Specialty  (view reports)

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

  • Market size and characteristics
  • Key statistics and ratios
  • Current performance
  • Competitive landscape
  • Major firms and market share
  • Key risk and success factors
  • Five-year growth forecast


UBM Medica LLC
Medical Economics Magazine
http://www.medicaleconomics.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
http://www.firstresearch.com

First Research profiles cover key aspects of an industry's size, scope, and operations and include a five-year growth forecast. Profile contents include:

  • Industry overview
  • Recent developments
  • Critical issues and challenges
  • Business trends and opportunities
  • Executive insights
  • Financial benchmarking data
  • Five-year growth forecast


U.S. Bureau of Labor Statistics
Occupational Outlook Handbook - Physicians and Surgeons
https://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.

More Resources ››



Financial Statements and Financial Ratios



Industry Financial Ratios
Physicians - General Practitioners and Specialists
https://www.bizminer.com  Search for "621111" (see listing for specific specialties)

Five-year financial statement analysis includes income statements, balance sheets, and key financial ratios, with data available by sales size range on a national, state, and metro area level.

  • Income and expense detail in dollars and percentages
  • Balance sheets in dollars and percentages
  • Cash flow analysis
  • Liquidity and working capital ratios
  • Profitability and return on investment ratios
  • Asset turnover and efficiency ratios
  • Capital structure and debt service ratios


American Medical Group Association
Medical Group Compensation and Financial Survey
https://www.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:

MGMA DataDive Provider Compensation Data
https://www.mgma.com/
Annual survey covers over 140 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.

MGMA DataDive Cost and Revenue Data
https://www.mgma.com/
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.


More Resources ››



Compensation and Salary Surveys


Medical Economics
Physician Earnings Survey
http://medicaleconomics.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://www.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:

MGMA DataDive Provider Compensation Data
https://www.mgma.com/
Annual survey covers over 140 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.

MGMA DataDive Management and Staff Compensation Data
https://www.mgma.com/
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.


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/
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
https://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.

More Resources ››



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 in the "Goodwill Registry Online by Specialty" section.

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

Part C: Valuing Medical and Dental Practices
Ronald L. Brown (Editor), Wolters Kluwer, supplemented annually
https://lrus.wolterskluwer.com/
Valuation guide contains over 45 chapters focused on valuing professional practices, degrees, and licenses for divorce purposes, with professions covered including attorneys, accountants, architects, and dentists. Detailed table of contents and searchable text can be viewed online using "Google Preview" feature.

Valuation of a Medical Practice
Tinsley, Sides, and Anderson, John Wiley & Sons, 1999
https://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 chapters specifically focused on valuation of physician practices, hospitals, diagnostic imaging centers, ambulatory surgery centers, dialysis clinics, and home health care services. Summary description and detailed table of contents from the guide 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
https://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.

The Handbook of Business Valuation
Chapter 24 - Valuing Medical Practices
Thomas L. West and Jeffrey D. Jones, John Wiley & Sons, 1999
https://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 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.





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