Compensation for ASC leaders is on the rise, according to OR Manager.
The publication surveyed 139 ASC leaders from March 22 to June 8, 2023, primarily from physician-owned or joint venture surgery centers. In the annual survey, 77% of ASC leaders said they made $100,000 or more, up from 58% in 2022.
While 68% of respondents reported a total annual compensation of $120,000 or more, these wages might be insufficient to offset the strain ASC leaders are facing. ASC leaders supervise an average of 40 employees, compared to 36 in 2022 and 32 in 2019.
Here are five other highlights from the survey:
1. In the past 12 months, 74% of respondents reported receiving a raise, up from 66% in 2022.
2. The average raise was 5.1%, higher than 2022's 4.24% but lower than the 2022 consumer price index of 6.5%.
3. More than half of respondents plan to retire in 2024 or later. Of those, 10% planned to exit the workforce by the end of 2025.
4. Half of respondents plan to stay with their current employer for five years or more, and 28% plan to stay for two years or less.
5. Job satisfaction dropped only slightly, with 73% viewing their current job or position favorably, compared with 74% in 2019.