SOURCE: Cutting Edge Information

Cutting Edge Information

October 08, 2015 10:15 ET

Base Hourly Fair Market Rate for Primary Care Physicians and Non-MDs in US Is at $192 per Hour

American Average Less Than That of Australia and Japan

RESEARCH TRIANGLE PARK, NC--(Marketwired - October 08, 2015) - Companies have differentiated their fair market value (FMV) payments by therapeutic areas for specialists for over a decade. However, these groups have only recently begun to vary their payments for non-specialist providers. According to a recent study by Cutting Edge Information, FMV related to primary care physicians (PCPs), advanced providers and nurses is still working on converging toward a universal standard. Because FMV for these types of healthcare providers is not yet unified, FMV rates do not follow the same trends seen when analyzing specialist rates.

"In the United States, the base hourly for PCPs and non-MD providers averages $192 per hour. These rates are higher in Australia and Japan, averaging $215 and $226 per hour," said Shaylyn Pike, head of analytics and FMV at Cutting Edge Information. "Only small differences in payment amounts emerge among the remaining highly developed countries."

According to Cutting Edge Information's recent report, "Global Key Opinion Leader Compensation 2015: CEI's Annual Review of Fair Market Value," the pay differential between specialists and PCPs/non-MDs in European countries is much smaller than in other regions. Europe averages $178 per hour to these non-specialists, but specialists only earned $278 per hour on average, a 56% increase. Specialists in the United States, on the other hand, average about an 85% increase over non-specialists.

"Global Key Opinion Leader Compensation 2015: CEI's Annual Review of Fair Market Value," available at http://www.cuttingedgeinfo.com/research/medical-affairs/thought-leader-fmv-physician-fee-schedules/, provides an introduction to fair market value metrics and discusses the implications of recent physician payment disclosure requirements on the drug and device industries. The report's analysis also examines how companies may select the key opinion leaders with whom to work and provides sample rates of how teams may reimburse selected influencer types. Highlights from the report include:

  • Sample base hourly rates: by region, company type, KOL tier designation and physician specialty area
  • KOL selection criteria, including a discussion of standardized rate cards
  • A review of the Sunshine Act and similar physician payment disclosure requirements

To download a report summary, please go to http://www.cuttingedgeinfo.com/download/?ref=153.

Cutting Edge Information's FMVConnect Database

FMVConnect, a benchmarking and analysis solution by Cutting Edge Information, provides healthcare companies with the data necessary to build key opinion leader relationships and to establish top-notch physician and non-physician fair market value fee schedules.

Our team of research experts has worked with thought leaders and pharmaceutical executives to develop a time-tested methodology for identifying and segmenting healthcare professionals and for determining fair market value for specific thought leader activities. With Cutting Edge Information's FMV services, you can:

  • Implement a fee schedule based on detailed KOL compensation benchmarks
  • Establish sound consultant and advisor payment practices
  • Receive a customized data set based on your company's specific needs

FMV data for different thought leader activities are presented in tables and grouped by specialty, geographic region and tier. Our comprehensive database includes information from 118 countries, 109 specialties/subspecialties and 63 non-specialties.

Go to http://www.cuttingedgeinfo.com/physician-fair-market-value/ for more information.

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