sounds like physician scientist = MD/Phd. Or atleast a physician that does research at a major univ.
I always think of academic physicians to have atleast two of three jobs--
1. have patients (they're doctors!)
2. do research
3. perhaps teach some clinical classes
I have seen tons of docs do all 3 at my univ. I suppose a physician scientist might stress more of "2" and "3" while having very little patients. That's just my guess.