Physician Pay and Productivity Are Moving in Opposite Directions, MGMA Report Finds
Summary
MGMA’s new report shows physician compensation rose in 2025, but productivity moved in the opposite direction. Pay increases generally lagged inflation, while nonsurgical specialists saw the sharpest decline in patient visits. Medical groups are also relying more on advanced practice providers and hybrid compensation models to keep access stable. The report suggests staffing pressure, burnout, and Medicare’s new efficiency adjustment will keep reshaping compensation decisions in 2026.
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