MedAxiom, has published its 2024 Cardiovascular Provider Compensation and Production Survey Report, offering insight into significant trends shaping the cardiovascular field. This year’s report includes data from the largest number of cardiovascular programs since the survey’s inception and sheds light on post-pandemic shifts in practice ownership models, provider compensation, and the evolving role of team-based care.
MedAxiom President and CEO, Dr. Jerry Blackwell, notes in the report’s foreword that the findings offer a critical view of the current cardiovascular landscape. “As cardiovascular leaders are faced with challenging questions about how to best deliver care in the future, an accurate map of the current cardiovascular ecosystem is indispensable,” Blackwell said.
Key Findings of the 2024 Report:
- Almost 50% of private practice cardiovascular groups are now part of private equity portfolios—a dramatic shift from a few years ago when none reported private equity involvement.
- For the first time in over a decade, invasive cardiologists are the highest earners in both private and integrated ownership models, with median total compensation exceeding $700,000 per full-time physician. Electrophysiologists and interventional cardiologists also reported compensation at similar levels.
- Advanced practice providers (APPs) in private practice earned a median compensation of $126,583, slightly ahead of their counterparts in integrated systems, who earned $122,873.
- The use of advanced imaging in cardiology continues to rise, with a growing ratio of advanced imaging to cardiac catheterizations (caths). The median ratio has doubled over the past five years, underscoring the increasing reliance on diagnostic imaging.
This data is derived from MedAxcess, MedAxiom’s business intelligence platform, which powers the annual survey. “MedAxcess is more than just a data source—it’s a dynamic tool that helps drive decision-making and care transformation in the cardiovascular field,” said Karen Wilson, Vice President of Member Services at MedAxiom and co-author of the report. Over the past year, several updates were made to MedAxcess to enhance the user experience for data submission and reporting.
The 2024 report is based on data collected from 202 cardiovascular programs, representing 5,663 cardiovascular providers, giving a comprehensive snapshot of the industry’s current state.