A Mid-Year Update on Physician Compensation

Posted on July 3, 2015 by Dr. David Edward Marcinko MBA MEd CMP™

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Medscape Compensation Report

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By Vicki Rackner MD

A 2015  Medscape Compensation Report sheds light on physicians’ earning potential.

Here are some key findings from a survey of 20,000 physicians in 26 specialties:

  • Orthopedists ($421,000) and cardiologists ($376,000) are still the top earners among physicians.
  • Physicians in private practice earn significantly more ($329,000 for specialists) than do employed physicians ($258,000 for specialists), despite the trend toward employment.
  • Male physicians earn more ($284,000) than their female counterparts ($215,000).
  • North Dakota and Alaska ($330,000) are the top-paying states for physicians, while Rhode Island ($217,000) and Maryland ($237,000) are the lowest-paying.
  • 9% of physicians have concierge or cash-only practices, the same percentage as last year, while ACO participation continues to grow.
Assessment

However, it’s not what you make that’s important; it’s what you keep. Click here to read a blog post about the Myth of the Rich Doctor that addresses the disconnect between income and wealth.

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So, what are your thoughts about physicians’ potential to enjoy financial independence?

ABOUT

Vicki Rackner MD is an author, speaker and consultant who offers a bridge between the world of medicine and the world of business. She helps businesses acquire physician clients, and she helps physicians run more successful practices. Contact her at (425) 451-3777

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Conclusion

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OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

Risk Management, Liability Insurance, and Asset Protection Strategies for Doctors and Advisors: Best Practices from Leading Consultants and Certified Medical Planners™8Comprehensive Financial Planning Strategies for Doctors and Advisors: Best Practices from Leading Consultants and Certified Medical Planners™

There is no other comprehensive book like it to help doctors, nurses, and other medical providers accumulate and preserve the wealth that their years of education and hard work have earned them.
—Dr. Jason Dyken MD MBA

[Dyken Wealth Strategies, Gulf Shores, Alabama]

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