Medscape Physician Compensation survey 2011

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Smachadams

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http://www.medscape.com/features/slideshow/compensation/2011

Here's the 2011 compensation survey:

Here's some of the stuff I thought was really interesting:

While many physicians justifiably express frustration with the state of practice today, a large majority (69%) would still choose medicine as a career. About 61% of physicians would choose the same specialty, whereas 21% would abandon their current specialty. Half would remain in the same practice setting; 21% would change settings, and 29% were unsure. "It is horrific how many primary care doctors indicated they would not practice primary care again when compared to the number of specialists who indicated they would not be in their field again," notes one family physician from Montana. "One has to wonder about that."

Primary care physicians reported the lowest level of satisfaction among all the specialties; only 43% would choose the same specialty of they were given the choice all over again.

Across all specialties, male physicians earn about 41% more than female doctors. In primary care, men earn 21% more. "The vast majority of women physicians are in primary care or obstetrics, so it's natural that they would earn less," says AMN's Travis Singleton. Many women physicians are more likely to work fewer hours than their male counterparts, choosing part-time schedules to balance work and family/lifestyle needs, says Singleton. Also, there are fewer women in some of the higher-paying specialties.

Take a look and tell me what you guys think.

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Interesting finds...

One thing I was curious about is the overall satisfaction rate. Since I don't really have a reference point, do you guys/gals think 78% is "good?" Does anyone have any data for other fields? Law? Teaching? Etc.

Also, there needs to be more incentive to go into PC. Flat out. However, I wonder how many of those are physicians that got "stuck" doing FP and have hated it from the get-go.
 
Interesting finds...

One thing I was curious about is the overall satisfaction rate. Since I don't really have a reference point, do you guys/gals think 78% is "good?" Does anyone have any data for other fields? Law? Teaching? Etc.

Also, there needs to be more incentive to go into PC. Flat out. However, I wonder how many of those are physicians that got "stuck" doing FP and have hated it from the get-go.

The answer is simple, pay them more. Dermatology wouldn't be so competitive to enter if they didn't make 350K for a 40 hour work week. Feeling fairly compensated is well correlated with overall satisfaction.
 
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Interesting finds...

One thing I was curious about is the overall satisfaction rate. Since I don't really have a reference point, do you guys/gals think 78% is "good?" Does anyone have any data for other fields? Law? Teaching? Etc.

Also, there needs to be more incentive to go into PC. Flat out. However, I wonder how many of those are physicians that got "stuck" doing FP and have hated it from the get-go.

I definitely would say 78% is good.

I agree that PC has a lot of challenges and I could see some residencies, like FM, have very few MDs chosing to practice it. Midlevels are gaining momentum in America, it only makes sense that they will engulf fields like FM and general anesthesia, possibly even non emergent EM.
 
The answer is simple, pay them more. Dermatology wouldn't be so competitive to enter if they didn't make 350K for a 40 hour work day. Feeling fairly compensated is well correlated with overall satisfaction.

I agree.. you can actually see the correlation in the table that displays which specialties are the most satisfied..among the top, unsuprisingly, are Derm, Radiology, Optho... although infectious disease/HIV kinda sneaked up on me... o_o
 
those numbers seem low to me just based on discussions with other physicians and that other survery posted on here not too long ago. But I am glad that rads still makes a ton!! lol...
 
those numbers seem low to me just based on discussions with other physicians and that other survery posted on here not too long ago. But I am glad that rads still makes a ton!! lol...

Any anecdotal advice from any physicians you know is welcome :D
 
Any anecdotal advice from any physicians you know is welcome :D

man the ones I've worked with in private practice say they make way more than what is posted there. I mentioned to them the other day that I thought rads only made 500k or so and they almost laughed... they apparently make that much (obgyn). The radiologists they know who primarly read films easily make 600-700k and if you own your own mri and ct scanners you can easily break 1.5 million... Granted they are also telling me that reimbursements for rads are getting cut but they'll still make way more than most docs regardless.

I just found it interesting that obgyn can make a lot in private practice. And that amount for rads was ridiculous. Granted those types of guys are probably partners in a large practice and been doing it a long time but still that's really impressive.

A family doc I worked with easily pulls around 300k. He's got a boat (nice one too), a few kids, and looking at a lake house soon. Not sure what his wife does but this doc also does a lot of his own procedures like cyst removals, botox, etc.

Met a gen surgeon in a smaller city who also pulls 650k on a really good year. Key with him is that it was outside the major metro area where there is less competition and higher compensation. Also cost of living is lower so you can live extremely well pulling that money.

In essence if you want to make money go into private practice. Rads is good for the hours and type of work (if you enjoy it) but the super big bucks are in surgical subspecialities (neuro surg, spinal surg, retinal surg, etc). The only way to get extra cash in academics is to consistently get grants for research. But even then the university you work for probably will take a chunk of it. Either way there is plenty of money to be made.


I'm not sure why that survey shows lower compensation values. Obviously I am getting info via word of mouth but it shows you that kind of stuff is out there regardless. Just have to find the right practice and group in whatever field you choose.
 
nothing really changed. Also, the survey's too biased, it has 23% primary care physicians and the rest are all 8% or less for other specialties. One thing I did notice was that there are fewer percentages for "choosing medicine as a career again."
 
But I am glad that rads still makes a ton!! lol...

Don't be fooled by absolute numbers. These guys (and also most other procedure-driven specialties) have essentially doubled (and in some cases even more that doubled) the number of RVU's per year per physician over the past decade. Compensation per unit of work is actually consistently going down.
 
man the ones I've worked with in private practice say they make way more than what is posted there. I mentioned to them the other day that I thought rads only made 500k or so and they almost laughed... they apparently make that much (obgyn). The radiologists they know who primarly read films easily make 600-700k and if you own your own mri and ct scanners you can easily break 1.5 million... Granted they are also telling me that reimbursements for rads are getting cut but they'll still make way more than most docs regardless.

I just found it interesting that obgyn can make a lot in private practice. And that amount for rads was ridiculous. Granted those types of guys are probably partners in a large practice and been doing it a long time but still that's really impressive.

A family doc I worked with easily pulls around 300k. He's got a boat (nice one too), a few kids, and looking at a lake house soon. Not sure what his wife does but this doc also does a lot of his own procedures like cyst removals, botox, etc.

Met a gen surgeon in a smaller city who also pulls 650k on a really good year. Key with him is that it was outside the major metro area where there is less competition and higher compensation. Also cost of living is lower so you can live extremely well pulling that money.

In essence if you want to make money go into private practice. Rads is good for the hours and type of work (if you enjoy it) but the super big bucks are in surgical subspecialities (neuro surg, spinal surg, retinal surg, etc). The only way to get extra cash in academics is to consistently get grants for research. But even then the university you work for probably will take a chunk of it. Either way there is plenty of money to be made.


I'm not sure why that survey shows lower compensation values. Obviously I am getting info via word of mouth but it shows you that kind of stuff is out there regardless. Just have to find the right practice and group in whatever field you choose.

Um, according radworks and salaries floated around AM, the median rads salary is a bit inflated in MGMA. Not quite sure where the doctors you know work (geography) and how long they've been in practice. Hard to see a newly minted rad making anywhere close to that kind of cash, let alone in the next 5-10 years.
 
The answer is simple, pay them more. Dermatology wouldn't be so competitive to enter if they didn't make 350K for a 40 hour work week. Feeling fairly compensated is well correlated with overall satisfaction.
Why are the reimbursements for dermatology so much higher than primary care?
 
Why are the reimbursements for dermatology so much higher than primary care?
There's a fair amount of cosmetic work in Derm. A lot of cosmetic work is cash-only, and people are willing to pay for this, as opposed to paying for diabetes follow up office visits.

Think botox, dermabrasion, etc. for derm in addition to acne, moles, rashes, etc.
 
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