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Financial Models for an Academic Practice in Plastic Surgery.

Kathrina Munoz1, Gregory R D Evans1

  • 1Department of Plastic Surgery, The University of California, Irvine, Orange, Calif.

Plastic and Reconstructive Surgery. Global Open
|January 19, 2023
PubMed
Summary
This summary is machine-generated.

Physician compensation in academic plastic surgery varies, with most models based on the relative value unit (RVU) system. Research and education funding remain challenges, despite COVID-19 not altering established financial structures.

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Area of Science:

  • Medical Economics
  • Academic Medicine
  • Plastic Surgery

Background:

  • Physician compensation models in academic settings are complex and varied.
  • Understanding these models is crucial for faculty recruitment and retention in specialized fields like plastic surgery.

Purpose of the Study:

  • To investigate and evaluate the financial reimbursement models employed by plastic surgery departments and divisions within academic universities.
  • To identify common compensation structures and any influencing factors, such as region or the COVID-19 pandemic.

Main Methods:

  • A survey was conducted among thirteen academic plastic surgery divisions or departments.
  • Data collection focused on total compensation, bonus/incentive structures, and reimbursement for cosmetic and non-insured procedures.
  • Institutions were analyzed regionally (Western, Midwest, Eastern) to identify geographical variations.

Main Results:

  • No significant regional differences in compensation models were identified.
  • The COVID-19 pandemic did not substantially alter pre-existing financial reimbursement models.
  • The predominant compensation model observed was based on a $/work Relative Value Unit (wRVU) system.

Conclusions:

  • There is no single ideal compensation model; significant variation exists across academic plastic surgery practices.
  • Funding for research and education presents a persistent challenge due to inadequate reimbursement.
  • While compensation is not the sole factor, it significantly influences decisions regarding entering and remaining in academic practice.