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Orthopedic doctors and surgeons earn on average 558 thousand U.S. dollars annually. This makes Orthopedic doctors and surgeons the most well-compensated physicians in the United States as of 2024, followed by plastic surgeons. Plastic surgeons were, by far, the highest earning physicians in the U.S. in 2023. An orthopedic physician specializes in injuries and diseases involving bones, muscles, joints, nerves and other parts of the musculoskeletal system.

Although orthopedic doctors and surgeons have the highest average annual salary, from 2023 to 2024 their compensation actually decreased by 3 percent. In comparison, compensation for physicians specialized in physical medicine and rehabilitation increased 11 percent during this time, while plastic surgeons saw the largest decrease of 13 percent. The region with the highest annual compensation for physicians was West North Central in 2024, with physicians earning some 404 thousand U.S. dollars in this region.

There are currently around 29.2 active physicians per 10,000 people in the U.S. Around 29 percent of physicians in the U.S. are aged between 56 and 65 years, while only 11 percent are 35 years or younger. The vast majority of physicians are employed by hospitals or groups and work an average of 51 hours per week.

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Medicare Rates in 2025 Would Cut Pay For Docs by About 3%

And so, Federal officials on July 11th proposed Medicare rates that effectively would cut physician pay by about 3% in 2025, touching off a fresh round of protests from medical associations. The 2025 draft base rate, or conversion factor, is slated to drop to $32.36 from the current level of $33.29, the Centers for Medicare & Medicaid Services said.

This proposed cut is mostly due to the 5-year freeze in the physician schedule base rate mandated by the 2015 Medicare Access and CHIP Reauthorization Act (MACRA). Congress designed MACRA with an aim of shifting clinicians toward programs that would peg pay increases to quality measures.

Source: Kerry Dooley Young, MD Edge [7/11/25]

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Filed under: "Doctors Only", Career Development, Experts Invited, Health Economics, Health Insurance, Health Law & Policy, Healthcare Finance | Tagged: CHIP, CMS, doctor pay, doctor salary, Kerry Dooley, MACRA, MD Edge, medicare |