People are still a medical practice's most valuable asset, and a continuously competitive labor market means that healthcare leaders must keep their compensation and benefit strategies updated to hire and retain top talent to avoid lost revenue and ensure patient access does not suffer.
The 2024 MGMA DataDaive Management and Staff Compensation report, “People Strategies for Today's Healthcare Staffing Challenges” — reflecting 2023 data on more than 171,000 management and staff positions — offers context to how outpatient and ambulatory care leaders have adjusted and innovated across the human resources, operational and financial arenas of their medical practices in the wake of the Great Resignation.
Key highlights of this year's data set find:
- Medical assistant median total compensation grew 3.26% in 2023, capping just more than $7,400 in gains since 2019.
- Registered nurse (RN) median total compensation hovered just under the $80,000 mark in the latest data set.
- Median hourly wages increased for certified nursing assistants ($1.61), patient care assistants ($2.15), RNs ($1.56) and licensed practical nurses ($1.19) in 2023.
- Management positions in healthcare saw a 6.95% increase in median total compensation in 2023.
Compensation also varies widely by region, with general and senior management positions reporting the highest compensation in the Western region and the lowest in the Southern region. RNs earned $23,084 more in the West compared to counterparts in the South.
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