Insider: Tim Smith on Physician Compensation Valuations and Data Mythbusting

In this episode of MGMA Insider, healthcare consultant Tim Smith discusses how survey data is used by professional appraisers and healthcare consultants to value physician compensation in service arrangements or as part of valuing a practice. Smith, who is a skeptic by nature, reveals the need to challenge, test and be wary of data unless it's been tested and analyzed. As Smith says, "When it comes to the business of physician practices, a set of talking points is commonly repeated about the physician marketplace and what physicians earn. These claims are often made by reference to survey data reports, but does the data really support popular beliefs about physician compensation and productivity?" He explains that "it's important to take a deep dive into the data to examine widely held paradigms about physician compensation and productivity" and be willing to be a contrarian and call out information when it isn't back up by the data. As a reminder, Smith can be heard speaking at MGMA19 | The Data Conference, May 16-18 in Orlando, Florida. As a special offer to you, our podcast listeners can receive $200 off the regular registration price by entering the code PODCAST at mgma.com/datacon Allied Medical Waste is the premier medical waste and document shredding company for medical groups all over the United States. On average, Allied helps medical groups save up to 50% on their monthly costs. Allied is known for their great service and impeccable response times. Reach out today for a free quote! Allied has a special offer for all MGMA members: the first 2 months FREE of charge!Connect with us at [email protected] or call (801) 328-8581.