Physician Compensation Rises 17% Since 2018 as Shortages Persist
Physician compensation is on the rise as healthcare organizations confront persistent clinician shortages and record levels of burnout.
physician compensation rose yet again, with the average physician salary growing from $299,000 in 2018 to $352,000 in this year’s report. That is an over 17 percent increase during the period and a 4 percent increase compared to last year’s average physician salary. Meanwhile, the gender pay gap in healthcare closed a little for physicians. Women doctors in primary care earn 19 percent less than their male counterparts compared to 25 percent less in 2018. Women specialists make 36 percent less versus 31 percent in 2022. The racial pay gap, however, did not budget, according to the report. African American and Black physicians continued to earn about 13 percent less than their White peers. Latinx and Hispanic physicians also make less than White physicians, on average.
Overall, physicians spend 15.5 hours per week on paperwork and administration. Of that, 9 hours are on EHR documentation, the report states. Among the specialties with the most paperwork are physical medicine and rehabilitation (19 hours), critical care (18 hours), internal medicine (18 hours), nephrology (18 hours), and neurology (18 hours). Family medicine physicians also spend an average of 17 hours per week on paperwork and administration.
Notably, these specialties are not among the top earning areas in this year’s report. Top earners based on average salary include plastic surgery ($619,000), orthopedics ($573,000), cardiology ($507,000), urology ($506,000), and gastroenterology ($501,000)...Read more
What do you think contributes to the rise in physician compensation?
