Valuation Resources

Physicians and Medical Practices

SIC 8011  |  NAICS 621111

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

See the following sections listed below to view available resources by category:

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. Topics addressed in the reports include:

UBM Medica LLC
Medical Economics Magazine
https://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.

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.

BizMiner
Market Analysis Report
https://www.bizminer.com

Market analysis report provides industry statistics for a user-defined area on a national, state, county, metro area, or zip code level, with data provided including number of companies, market volume and sales trends, average company sales, sales per employee, staffing and employment trends, average employee wage, and business start up activity and failure rates. Sample report can be viewed online.


Financial Statements and Financial Ratios

BizMiner
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 including:

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.


Compensation and Salary Surveys

Medical Economics
Physician Earnings Survey
https://www.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
https://www.aafp.org/
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
https://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.

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.

BVMarketData
www.bvresources.com
Private company sales transaction data for over 800 industries.



Related Industries:
Ambulatory Surgery Centers
Home Health Care Services
Hospitals and Medical Centers
Nursing Homes and Assisted Living Facilities

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