X

Physician compensation up; more choose employment; but self-employed earn more

April 29, 2015
Area(s) of Interest: Physician Workforce Professional Development & Education 


Physician compensation was up modestly for 2014, according to the annual Medscape.com survey, released last week. The survey showed that physicians were more inclined to pursue employment in a medical group, hospital or clinic setting than to be self-employed. However, this year's report shows those physicians who are self-employed (32 percent) earn significantly more than those employed (63 percent). On average, self-employed primary care physicians (PCP) earn$212,000 compared with their employed counterparts ($189,000), and self-employed specialists, on average, earn $329,000 compared to employed specialists ($258,000). In its fifth year, Medscape's survey looked at more than 19,500 physicians across 26 specialties.


Physician participation in different payment models also continued to evolve. While concierge and cash-only practice models remained a tiny portion of the market (3 percent and 6 percent, respectively), participation in accountable care organizations (ACO) continued to rise dramatically – growing from 3 percent in 2011 to 30 percent in this year's report, with another 7 percent reporting that they plan to join an ACO during 2015.


Findings show specialists continuing to outpace PCPs in earnings, with the average annual income for PCPs at $195,000, compared to $284,000 for specialists. Specialties with the highest average patient care incomes are orthopedists ($421,000), cardiologists ($376,000) and gastroenterologists ($370,000).


The lowest earners are pediatricians ($189,000), family physicians ($195,000), endocrinologists and internists (both at $196,000). In comparison to last year, only rheumatologists experienced any large decrease in income (4 percent). Urologists were the only other specialists to see a decline, but by only 1 percent. All other physicians reported a compensation increase, with greatest pay increases among infectious disease physicians (22 percent), pulmonologists (15 percent) and emergency medicine physicians and pathologists (both 12 percent).  Family physicians also saw a 10 percent increase in compensation.


To view the rest of the survey, click here.

 

Was this article helpful?    

COVID-19 Resources

Resources for physicians and health care providers on the latest news, research and developments.

Stay Informed

Opt in to receive updates on the latest health care news, legislation, and more.

Latest News

Load More