Advanced practice provider compensation is growing rapidly as organizations face ongoing staff shortages and other health care workforce challenges.
Featured in a recent article from RevCycle Intelligence, data from SullivanCotter’s 2022 APP Compensation and Productivity Survey highlights the need for more dynamic compensation practices for nurse practitioners (NPs), physician assistants (PAs) and certified registered nurse anesthetists (CRNAs).
Attracting and retaining advanced practice providers in today’s unprecedented market for talent – where the demand for care continues to outpace the supply of providers – is now more critical than ever amidst the current health care workforce crisis.
To remain competitive, hospitals and health systems are having to keep up with rapid year-over-year growth in median annual total cash compensation for NPs and PAs. The competition for CRNAs is even greater – with an increase of more than 10% in median TCC since 2019.
How are organizations responding?
- Adjusting base pay for key clinical positions
- Expanding APP salary budgets
- Increasing fixed, merit and market pay
- Exploring flexible staffing arrangements
- Addressing turnover with greater retention bonuses