A Medscape.com article talks about the increase in physician compensation over the last year following a decline in pay during the previous several years. The numbers, which the article goes on to detail, are based on Medscape’s 2013 Physician Compensation Report which also talks about an increase in frustration associated with medical practice. So while things may be getting complicated (insurance issues, the escape from private practice, patient-doctor time problems – see the article for more), at least doctors are receiving increases in compensation – there’s definitely a silver lining here!
Here are additional highlights from the report:
• Orthopedic surgeons have the highest income, earning about $405,000 (mean). Orthopedists reported a 27% increase in income from the previous year.
• Cardiologists come in second with a mean income of $357,000, followed by radiologists who make $349,000.
• Specialties with the smallest paychecks include pediatricians (at $173,000), family doctors ($175,000), endocrinologists/diabetes physicians ($178,000), and internists ($185,000). The lowest earning specialty is HIV/infectious diseases with a mean income of $170,000. (Last year, pediatricians made the least.)
• Two out of the 25 specialties that saw decreases in their income over the past year – endocrinologists by 3% and oncologists by 4%.
• Gender pay gap update: Last year male physicians earned 40% more than their female colleagues; this year the gap has narrowed to 30%. In primary care, the pay gap narrowed from 23% to 17%.