2013 Medical & Dental Survey

Transcription

1 2013 Medical & Dental Survey based on 2012 results Beall Barclay & Company, PLC Fort Smith 3101 S. 70th Street Fort Smith, AR Rogers 2005 W. Elm Street Rogers, AR

2 A letter from your Beall Barclay Medical/Dental Group Enclosed are the results of our 3rd Annual Medical/Dental Survey. The survey respondents included a diverse group of practices throughout Arkansas and Oklahoma. We trust this information will be useful to you in making strategic decisions for your practice. In an effort to present the information in a manner that can be easily interpreted and utilized, we have provided the following: A description of the survey respondents, including practice size and type. A summary of data for areas, including salary ranges and averages for various positions. Graphic representations of each question posed within the original survey. The industry reports referenced throughout the survey results were provided by First Research, a division of Hoover s Inc. We hope you find this information valuable and we appreciate your participation in our survey. If you have any questions regarding the information presented, please feel free to contact our Fort Smith office at or Rogers office at Sincerely, Beall Barclay & Company, PLC Medical/Dental Group

3 Table of Contents Description of Medical Survey Respondents... 2 Medical Benefits Medical Compensation... 7 Description of Dental Survey Respondents... 8 Dental Benefits Dental Compensation

4 Description of Medical Survey Respondents According to industry reports, there are approximately 220,000 offices with combined annual revenue of about $380 billion and that number is expected to grow at a moderate rate in the next two years. Key growth drivers are demographics and access to health care. The images below illustrate the 2012 survey respondent demographics. This year s dominant practice profile includes specialty practices with one physician and 1-10 total staff members. The 2012 survey respondents represent a diverse population of practices, including: Behavioral Health Dermatology Ophthalmology Plastic and Reconstructive Surgery Family Practice Number of Physicians Number of Individuals One % Number of Full-Time Equivalent n-physician Staff Number of Full-Time Equivalent Administrative & Clerical Staff % % %

5 Medical Benefits National trends reflect most employment opportunities in healthcare practices are clerical and involve scheduling, maintaining medical records and billing. Although these positions are highly specialized and require computer skills, the turnover rate can be high. To compensate for the repetitive nature of the work and limited advancement opportunities, it is imperative that practices offer well-rounded benefit packages to recruit and retain quality employees. Because most healthcare employees are quite knowledgeable about medical insurance plans, fringe benefits are usually high. The 2012 survey respondents revealed an 8.3% increase in the number of practices offering health coverage and a 25% increase in those offering dental insurance to their employees. Health Insurance Do you offer health insurance coverage to your employees? Individual Percentage Paid by Company Family Percentage Paid by Company 44.5% 11.1% 76-99% 51-75% 50% 0% 14.3% 76-99% 51-75% 50% 0% 11.1% 75.0% 85.7% Dental Insurance Do you offer dental insurance coverage to your employees? Individual Percentage Paid by Company 76-99% 0% 42.8% 28.6% 66.7% 28.6% 3

6 Medical Benefits Life Insurance Do you offer life insurance coverage to your employees? Percentage Paid by Company 76-99% 58.3% 42.8% 28.6% 28.6% Short-term Disability Do you offer short-term disability to your employees? Percentage Paid by Company 76-99% 58.3% 4 6 Long-term Disability Do you offer long-term disability to your employees? Percentage Paid by Company 16.7% 76-99% % 4

7 Medical Benefits The 2012 respondents report an increase in the percentage of practices providing benefits to part-time employees, which is 8.3% higher than in For those who do offer these benefits, the most popular include health, dental and life insurance, and pro-rated vacation. There was an increase in the number of employers who offer a uniform allowance for non-physician staff, up 25% from Do you offer a 401(k) plan to your employees? Type of 401(k) Benefits Offered 16.7% Proft sharing Match 66.7% 83.3% ne 16.7% Do you offer a defined benefit plan? If you offer employees a retirement plan, are they allowed to select their own investments? response response 66.7% Number of Days Received Per Year Does your company offer a uniform allowance for non-physician staff? Vacation Average Range Under 1 year years years years Sick Time Average Range Under 1 year years 5 N/A* 6 10 years 5 N/A* 11+ years 5 N/A* 75.0% *Indicates only one company listed time off for this amount. 5

8 Medical Benefits Holidays Observed What benefits do you offer your part-time employees? New Year's Day Good Friday Memorial Day 4th of July Labor Day Veterans Day Thanksgiving Day after Thanksgiving Christmas Eve Christmas Day New Year s Eve Other 8.3% % Health insurance Dental insurance Short-term disability 8.3% part-time employees 8.3% Life insurance Pro-rated vacation Long-term disability benefits offered 16.7% 16.7% Do you offer health benefit plans to your employees? Do you offer the following health benefit plans? Flexible Spending Account (Section 125/Cafeteria Plan) Medical Reimbursement Plan 5 response Individual Deductible Amount Deductible Contributed by Practice Family Deductible Amount Deductible Contributed by Practice

9 Medical Compensation According to the Bureau of Labor Statistics, the average hourly wages of employees in U.S. medical offices increased from $26.72 in 2012 to $27.38 in March According to the 2012 results, most average compensation rates increased since last year s survey, with the exception of administrative assistant/receptionist, other office clerks, referral coordinator, Certified Medical Assistant, M.A., Certified Ophthalmic Assistant and Optician. Does your practice offer a bonus program? Basis for Bonuses What is the basis for salary increases for your employees? Based on profitability 57.1% Merit based 75.0% 58.3% Based on individual performance Annual holiday bonus response 14.3% 28.6% 42.9% Cost of living Automatic annual Full-time and Part-time Wages Average Range Practice Administrator FT Hourly $23.29 $13.82 $36.06 Years Experience Front Office Supervisor FT Hourly $16.04 $12.00 $22.00 Years Experience Bookkeeper(s) FT Hourly $16.31 N/A* Years Experience 3.0 N/A* Credit & Collections/Billing Supervisor FT Hourly $15.70 $11.00 $25.00 Years Experience Insurance/Accounts Receivable Specialist FT Hourly $13.42 $13.00 $14.00 Years Experience Medical Record/File Clerk FT Hourly $10.17 $9.50 $11.00 PT Hourly $10.50 N/A* Years Experience Administrative Assistant/Receptionist FT Hourly $10.80 $9.00 $12.50 Years Experience Other Office Clerks FT Hourly $10.00 N/A* Years Experience 1.0 N/A* Referral Coordinator FT Hourly $12.00 N/A* Years Experience 5.0 N/A* Surgery Scheduler FT Hourly $14.95 $12.00 $17.90 Years Experience Certified Medical Assistant, M.A. FT Hourly $9.00 N/A* Years Experience 1.0 N/A* Nurse Practitioner FT Hourly $48.29 $37.02 $56.00 Years Experience Physician s Assistant FT Hourly $37.02 N/A* *Indicates only one company listed wages for this position. Write-ins Average Range Registered Nurse, R.N. FT Hourly $20.95 $18.50 $24.44 Years Experience Licensed Practical Nurse, LPN FT Hourly $15.85 $14.70 $17.00 Years Experience Certified Ophthalmic Assistant FT Hourly $12.00 N/A* Years Experience 3.0 N/A* Optician FT Hourly $14.00 N/A* Years Experience 3.0 N/A* n-certified Operatory Assistant FT Hourly $11.00 N/A* Years Experience 2.0 N/A* Technician Supervisor FT Hourly $20.00 N/A* Years Experience 9.0 N/A* Scrub Technician 1 FT Hourly $13.50 N/A* Years Experience 2.0 N/A* Scrub Technician 2 PT Hourly $11.50 N/A* Years Experience 10.0 N/A* Head Licensed Practical Nurse FT Hourly $17.50 N/A* Years Experience 2.0 N/A* Licensed Practical Nurse 2 PT Hourly $13.50 N/A* Years Experience 2.0 N/A* RHIA Medical Clerk FT Hourly $26.50 N/A* Years Experience 5.0 N/A* Surgical Technician FT Hourly $14.00 N/A* Years Experience 3.7 N/A* Optical Supervisor FT Hourly $22.00 N/A* Years Experience 11.0 N/A* Optical Apprentice FT Hourly $12.50 $11.00 $14.00 Years Experience

10 Description of Dental Survey Respondents The United States is home to approximately 130,000 dental offices, generating an annual revenue of about $100 billion. According to industry reports, moderate growth is forecasted for the industry over the next two years. Key demand drivers include demographics, as an aging population requires more dental care, especially for expensive services such as implants. Other demand drivers include an increased interest in cosmetic surgery. Number of Dentists Sole Practitioner % 72.7% Number of Hygienists Number of Dental Assistants 27.3% 4 hygienists 3 hygienists 9.1% 4 assistants 3 assistants 2 hygienists 1 hygienist 2 assistants 1 assistant 36.3% 54.5% Employment Type - Hygienists Employment Type - Dental Assistants 16.0% Full-time 7.4% Full-time Part-time Part-time 84.0% 92.6% 8

11 Dental Benefits According to the 2012 survey respondents, only 45.5% offer health insurance, a decrease from 57.1% based on 2011 data. Those respondents who offer health insurance pay of the individual s coverage. Furthermore, 36.4% of participants offer their employees dental insurance, a decrease from 42.8% based on 2011 data. Health Insurance Do you offer health insurance coverage to your employees? 45.5% 54.5% Dental Insurance Do you offer dental insurance coverage to your employees? Individual Percentage Paid by Company 76-99% 36.4% 63.6% 75.0% Life Insurance Do you offer life insurance coverage to your employees? Individual Percentage Paid by Company 0% 54.5% % 8 9

12 Dental Benefits A majority of the respondents do not offer short-term or long-term disability for employees. When asked what benefits are offered to part-time employees, nearly half of respondents reported none. For those that offer benefits, offer dental and life insurance and pro-rated vacation. Do you offer short-term disability to your employees? Do you offer long-term disability to your employees? 81.8% Employees 9.1% 0% 9.1% 72.7% 0% 9.1% 9.1% 9.1% What benefits do you offer your part-time employees? Do you offer health benefits to your employees? Health Insurance Dental Insurance Short-term Disability PT Employees Life Insurance Pro-rated Vacation Long-term Disability Benefits Offered Response 27.3% 45.5% 9.1% % response Do you offer the following health benefits? Holidays Observed Flexible Spending Account (Section 125/Cafeteria Plan) Medical Reimbursement Plan Individual Deductible Amount Family Deductible Amount Deductible Contributed by Practice New Years Day 10 Good Friday 36.4% Memorial Day 81.8% 4th of July Labor Day % Veterans Day Thanksgiving 10 Day after Thanksgiving Christmas Eve 36.4% 54.5% Christmas Day 10 New Year's Eve

13 Dental Benefits Do you offer a 401(k) plan to your employees? Do you offer the following pension plans? 27.3% Proft sharing Match 63.6% 72.7% ne 27.3% Do you offer a defined benefit plan? If you offer employees a retirement plan, are they allowed to select their own investments? 45.5% 9.0% response response 55.6% 45.5% 11.1% Number of Days Received Per Year Does your company offer a uniform allowance for non-physician staff? Vacation Average Range Under 1 year years years years % Sick Time Average Range Under 1 year years years years % 11

14 Dental Benefits Compensation According to industry reports, employees in dental offices and clinics earn wages that are moderately higher than the U.S. average, in part because of the special training that dental hygienists and other office assistants must receive. According to the Bureau of Labor Statistics, the average hourly wage of employees in U.S. dental offices increased from $22.62 in 2012 to $23.05 in March Consistent with last year s survey results, all respondents stated that their employees salary increases are primarily merit based. In addition, 63.6% of practices offer an incentive bonus program with profitability as the main indicator for bonuses. This is a decrease compared to 71.4% based on 2011 data. Does your practice offer a bonus program? Basis for Bonuses 36.4% Based on profitability 10 Based on individual performance 14.3% 63.6% Annual holiday bonus 14.3% What is the basis for salary increases for your employees? Merit based 10 Cost of living 4 Automatic annual

15 Dental Compensation Average Wages Average Wages Hygienist FT Hourly $35.06 PT Hourly $52.13 Years Experience 10.4 Dental Assistant FT Hourly $15.71 PT Hourly $11.50 Years Experience 5.9 Full-time and Part-time Wages Hygienist 1 Hygienist 2 Hygienist 3 Hygienist 4 Dental Assistant 1 Dental Assistant 2 Dental Assistant 3 Dental Assistant 4 Hygienists and Dental Assistants Average Range FT Hourly $40.91 $30.00 $55.46 Years Experience FT Hourly $36.48 $30.00 $43.75 PT Hourly $48.38 $35.00 $61.75 Years Experience FT Hourly $34.88 $30.00 $40.63 PT Hourly $54.00 N/A* Years Experience FT Hourly $28.00 N/A* PT Hourly $54.00 N/A* Years Experience FT Hourly $18.27 $12.00 $25.50 Years Experience FT Hourly $15.40 $12.00 $20.00 PT Hourly $12.50 N/A* Years Experience FT Hourly $15.17 $13.00 $17.50 PT Hourly $10.50 N/A* Years Experience FT Hourly $12.00 $11.00 $13.00 Years Experience *Indicates only one company listed wages for this position. Write-ins Average Range Office Manager FT Hourly $22.02 $15.50 $28.18 PT Hourly $30.00 N/A* Years Experience Phone/Appointment Operator FT Hourly $15.14 $13.00 $18.00 Years Experience Receptionist FT Hourly $14.76 $13.52 $16.00 PT Hourly $13.00 N/A* Years Experience Administrative Assistant 1 FT Hourly $17.38 $13.50 $20.00 Years Experience Insurance Clerk FT Hourly $17.05 $16.00 $18.15 Years Experience Financial Coordinator FT Hourly $18.00 N/A* PT Hourly $13.00 N/A* Years Experience Medical Record/File Clerk PT Hourly $8.00 N/A* Years Experience 1.0 N/A* Dental Assistant/Receptionist FT Hourly $12.50 N/A* Years Experience 2.0 N/A* Tax Coordinator FT Hourly $25.77 N/A* Years Experience 6.0 N/A* Hygienist Assistant PT Hourly $13.00 N/A* Years Experience 6.0 N/A* Scheduling Coordinator FT Hourly $17.85 N/A* Years Experience 10.0 N/A* Hygentist/Front Office PT Hourly $20.00 N/A* Years Experience 5.0 N/A* 13

16 Beall Barclay & Company, PLC Fort Smith 3101 S. 70th Street Fort Smith, AR P: F: Rogers 2005 W. Elm Street Rogers, AR P: F: