Earlier in the month, Medscape released its 2016 Physician Compensation Report, which surveyed more than 19,000 physicians across 26 specialties.
Overall, the top five earning specialties in 2016 were:
- Orthopedics (earning $443,000 on average)
- Cardiology ($410,000)
- Dermatology ($381,000;
- Gastroenterology ($380,000)
- Radiology ($375,000)
Nearly across the board, physician salaries increased over the previous year. Two specialties, allergy and pulmonology, experienced a noticeable decrease in income (-11% and -5%, respectively), and pathologists and plastic surgeons remained stable.
Overall, dermatologists, at 65%, were the most satisfied with their careers and also feel they are compensated fairly (66%). On the bottom of the list, nephrologists and internists are the least satisfied with their careers (47% and 48%, respectively).
Physicians who participated in health insurance exchanges last year were asked whether their income was affected About a quarter (26%) experienced a decrease.
Experts say the report suggests that strong demand for physicians in many specialties is driving up earnings. For instance, “Over 10,000 baby boomers turn 65 every day, driving demand for internists, and their compensation, higher,” says Travis Singleton, SVP of national physician search firm Merritt Hawkins.
As a physician, do you feel like you’re being compensated fairly?