From 2010 to 2011, the average median hourly rate for medical directors increased 3 percent to a total average of $146.19 per hour, based on positions that were recorded in both 2010 and 2011, according to Integrated Healthcare Strategies' 2011 Medical Director Survey.
The 2011 Medical Director Survey analyzed data from more than 159 healthcare organizations and more than 3,200 medical directors.
Other results from the survey include the following:
• Neurosurgery medical directors recorded the highest hourly rate in 2011 at $277.78. Medical directors of endocrinology had the largest percent increase (17.4%) in hourly rates from 2010 to 2011.
• The majority of medical director positions tended to be part-time positions filled by private physicians from the hospital's medical staff.
• Independently contracted medical directors are paid almost 4 percent higher on average than employed medical directors.
• Nearly 27 percent of organizations offer performance bonuses to their medical directors, an increase from 22.6 percent in 2010.
• More than 82 percent of organizations said all of their medical directors have contracts. Roughly 73 percent of those contracts are for one-year terms.
• Seventy-eight percent of contracts require physicians to log their time.
Other results from the survey include the following:
• Neurosurgery medical directors recorded the highest hourly rate in 2011 at $277.78. Medical directors of endocrinology had the largest percent increase (17.4%) in hourly rates from 2010 to 2011.
• The majority of medical director positions tended to be part-time positions filled by private physicians from the hospital's medical staff.
• Independently contracted medical directors are paid almost 4 percent higher on average than employed medical directors.
• Nearly 27 percent of organizations offer performance bonuses to their medical directors, an increase from 22.6 percent in 2010.
• More than 82 percent of organizations said all of their medical directors have contracts. Roughly 73 percent of those contracts are for one-year terms.
• Seventy-eight percent of contracts require physicians to log their time.
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