Medscape has finally released the results of their massive 2013 survey. They’ve been doing this for the past 3 years and the results are always interesting. The data comprises information from 21,878 physicians across 25 medical specialties regarding the 2012 fiscal year. I cherry picked some key points I thought you might find interesting :
- The 3 top earning specialties this year are the same as last years : orthopedic surgery ($405,000), cardiology ($357,000), and radiology ($349,000).
- Endocrinology and Oncology were the only specialties who had a decrease in income.
- Roughly half of physicians feel fairly compensated and half don’t.
- Concierge and Cash Only practices are on the rise (albeit a slow one) but joining ACOs jumped up from 3% to 16%.
- 23% of doctors will drop insurers who pay poorly.
- 71% of doctors spend up to 14 hours per week on paperwork. 18% spend 15-24 hours. 9% spend more than 25 hours per week. (wow)
I think the most powerful slide for me is this one because it speaks to career satisfaction. It’s something I value greatly and think about often.
What do you think of the survey?
For the full results, click on the link below: