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Economic advantages of board certification
Journal of Health Economics
|February 10, 1983
Summary
Board certification significantly boosts physician income. Being board eligible increases earnings by approximately $8,000 annually, while full board certification adds nearly $13,000, demonstrating substantial economic advantages.
Area of Science:
- Health Economics
- Medical Professionalism
Background:
- Previous research has explored physician characteristics.
- A gap exists in comprehensively quantifying the economic benefits of board certification.
Purpose of the Study:
- To empirically assess the direct economic advantages conferred by board certification.
- To quantify the income differences associated with board eligibility and board certification.
Main Methods:
- Analysis of data from a nationwide physician survey.
- Estimation of the relationship between income and board certification status, controlling for other factors.
Main Results:
- Board eligibility is associated with an approximate $8,000 increase in annual practice income.
- Board certification is linked to an additional increase of nearly $13,000 in annual practice income, holding other variables constant.
- These findings indicate substantial economic benefits tied to physician board certification.
Conclusions:
- Board certification offers significant financial rewards to physicians.
- The economic advantages underscore the value of achieving and maintaining board certification.
- Further economic analyses can explore the long-term financial implications of board certification.