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Tag: MGMA standards

What Am I Worth?

Recently I was asked to serve as a consultant on a medical matter.  Interestingly, they requested my hourly price for my services.  I thought about this and wondered, “What am I worth in per hour in the open market?”

It is an interesting question to ponder.

I have decided to ask the blog-o-sphere.  Call it a bit of “free market economics.”  For the record, 100% of my hourly wage for my services will be sent to our cardiovascular research fund at our hospital to avoid any conflict of interest.  I will not see ANY of the money the blog-o-sphere decides personally, but I really want to know what people think.

So where to begin?

Should I compare my hourly wage to MGMA standards for the annual physician salary of a physician of my subspecialty?  If so, do I pick the 50% percentile, 25th percentile, 75th percentile, or 95th percentile?  On what basis do I have to assure this is a fair price?  Who sets this price?  Are these data accurate or based on earlier years’ hospital data and physician surveys?  Can I verify that their hourly price is justified?  If so, how?  Or are their data proprietary?

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