200 Statistics on Physician Compensation

2014

If you want to know what your doctor may earn here is a detailed breakdown by specialty. Open the link below for more detail. One stat of note is the difference between physician compensation and gross charges. Here is an example for a Dermatologist

The gross charges are practice revenue before expenses and the amount reflected in health insurance costs.

Median salary: $411,499 (3.56 percent increase from 2012)
Median gross charges: $1,649,366
Mean salary for men: $321,000
Mean salary for women: $284,000
Highest-paying region: Great Lakes ($333,000)
Lowest-paying region: Northeast ($274,000)
Highest offered base salary (not including bonuses): $425,000
Lowest offered base salary (not including bonuses): $235,000

So, do physicians contribute to the great inequality we are obsessing about today or are they fairly compensated based on the training, skills required and ongoing stress of the job? As a frame of reference, the town manager where I live earns $200,000 plus benefits worth half as much again as does the Superintendent of Schools for a town of 14,000. The head of the state teachers union earns over $250,000 plus pension, etc.

In response to pressure to contain the cost of care while improving quality, hospitals and health systems have increasingly sought to acquire physician practices.

Keeping track of compensation trends can help hospitals successfully attract physicians in order to expand and improve care. During the past year, some specialties saw notable increases in median compensation, while some of the highest paid specialties saw slight decreases in median base pay.

Highest-paid specialties

Cardiac and surgical specialties once again had the highest median compensation. Invasive cardiologists, orthopedic and cardiac and cardiac and thoracic surgeons reported median salaries of more than $500,000. Interventional diagnostic radiologists polled had a median salary upwards of $500,000, according to the American Medical Group Association\’s 2013 Medical Group Compensation and Financial Survey, based on 2012 data.

Non-invasive cardiologists, dermatologists, gastroenterologists, urologists and non-interventional diagnostic radiologists reported earning more than $400,000. General surgeons, ophthalmologists and otolaryngologists were close behind, all earning median salaries of more than $370,000.

Lowest-paid specialties

Primary care physicians including family medicine practitioners, hospitalists and pediatricians continued to report lower median salaries than other specialties, with pediatricians receiving the lowest median salaries at $222,827. Psychiatrists were the second-lowest paid, with median base pay of $224,878, according to AMGA.

Endocrinologists, infectious disease specialists, internal medicine physicians, rheumatologists and urgent care physicians also ended up near the bottom of the list, all with median salaries less than $243,000.

via 200 Statistics on Physician Compensation.