Seventy-five percent of healthcare information technology (IT) professionals received raises in 2003 that averaged 4.8 percent, according to respondents of the 2004 Health Information and Management Systems Society (HIMSS) Compensation Survey. The average salary for survey respondents was $96,568, an increase of just over $5,000 from the average salary of $91,268 reported in the 2002 survey.
"In today's marketplace, it is even more crucial for professionals in health information technology and management systems to understand the dynamics of their salaries and related benefits," said H. Stephen Lieber, HIMSS president/CEO. "The 2004 HIMSS Compensation Survey provides current data to help guide our members and industry professionals in both evaluating and enhancing their compensation packages."
Other key findings from the 2004 HIMSS Compensation Survey follow; all reported figures are as of Jan.1, 2004:
· Men received higher raises (at 5.1 percent) than women (at 4.4 percent) who responded to the survey. Raises among respondents at consulting firms (at 7.4 percent) and for senior managers (at 6.0 percent) topped the demographic categories of organization and position respectively.
- Respondents expected to receive their next raise in 12 months.
- Almost half of the respondents received a bonus in 2003.
- Respondents working for managed care and vendor/consulting organizations are most likely to receive bonuses while those individuals employed by either a stand-alone or multi-hospital systems are least likely to report receiving a bonus.
- Almost all respondents, or 98 percent, indicated that they received some level of benefits from their employer with a 401(k) or 403(b) retirement savings plan (94.5 percent), medical insurance (93.7 percent), and dental insurance (88.5 percent) ranked as the top three benefits.
HIMSS administered the survey online from March 31 - May 31, 2004 with invitations sent to HIMSS members and other healthcare IT professionals, who were invited to pass on the survey to others as appropriate in the organizations. Survey results were based on 1,352 responses
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