Here are this week’s collection of interesting  links :

• Commission on doc pay urges shift from fee-for-service, end to SGR 
• 9 Latest Hospital, Physician Compensation Stories
• States Get OK To Cut Physician Compensation Under Medicaid
• 7 Statistics on Primary Care Physician Salaries
• Patients’ Compensation System Introduced in Florida Legislature

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Links for 2011-10-13 Links for 2011-11-11 Links for 2011-12-2

Here are this week’s links :

• 27 Statistics on Physician Salary Increases
• Most internists don’t plan to stay in primary care
• Professional fees push doctor salaries much higher than $47.50/hour
• 2011 Hospitalist Salaries and Food For Thought
• Are Radiology Salaries Hitting a Cooling Point?

The post Salary Snippets : 13DEC2012 appeared first on MD Salaries.

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Salary Snippets : 11 OCT 2012 Links for 2011-10-20 Links for 2011-10-28

I think we all know that.
But just how much more do they earn over, say, a lifetime?

Well, a nationwide study, conducted by the University of California Davis Health System sought to find an answer.  They noticed a gap of about $2.8 million dollars on average.  Yes, that’s right, PCPs make about 2.8 million dollars less than their Specialist counterparts.

But there is some wide variation.  For example, a medical oncologist earns $4,288,906 more than PCPs over their lifetime while some specialties only earn $761,000 more than PCPs.

Examples of Lifetime Earnings:

• Surgery: $4,588,249
• Internal medicine subspecialties and pediatric subspecialties: $4,100,183
• All other medical specialties: $3,761,930
• Primary care: $3,000,527

The study evaluated information from 6,000 physicians using their data from 2004-2005.  The numbers were also adjusted for certain demographics including where you practice, sex, board certification, US vs international student, etc.  In total, 41 medical specialties were reported in the study.

With student loans reaching $250k in addition to other personal financial matters, it’s hard not to consider salaries when choosing a medical specialty.  We continue to see medical students choosing specialist residencies more than primary care roles further exacerbating a shortage of PCPs in the nation.  But don’t be so hard on them, because sawing bones or touching the heart on a daily basis is extremely awesome and worthwhile to the patients that have a better quality of life because of it.

Sources
Becker’s Hospital Review, Study: Primary Care Physicians Earn $2.8M Less Than Specialists Over Lifetime
UCDavis Health System, New Study Identifies Large Gaps in Lifetime Earnings of Specialist and Primary-Care Physicians

The post Study: Yep, Specialists Earn More Than Primary Care appeared first on MD Salaries.

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Here are this week’s links :

• Top 5 Non-Clinical Physician Jobs and Salaries
• How Has Cardiologist Compensation Evolved Over the Past 5 Years
• Financial Concerns Deter Medical Students From Becoming Primary Care Physicians
• 24 Statistics on Physician Income Over the Past 3 Years
• Best Paying Cities for Physicians

The post Salary Snippets : 11 OCT 2012 appeared first on MD Salaries.

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Salary Snippets : 13DEC2012 Links for 2011-11-25 Physician Practice releases 2012 Compensation Survey

Physician salaries and compensation in the news.

• Jumping to a nonclinical career
• Hospital exec pay keeps rising
• AMIA CEO Shortliffe to step down
• Wal-Mart wants to be your doctor
• 8 Statistics on Family Physician Salary Based on Employment Status

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Here are 5 links to articles related to physician salaries.  The first one is the most interesting.  It lists 16 salaries for pediatric specialists ranging from $339,528 to $165,594.

• Neonatal Medicine Specialists Have Highest Salaries Among Pediatricians
• Physician Pay Increases Expected to Regress in 2012
• Sen. Chuck Grassley Questions Large Salaries of Non-Profit Hospital CEOs
• Fee for Service: How Long Will It Be Around?
• Hospital workers call on voters to curb new CEO’s pay

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Here are five interesting articles about physician salaries or things that can affect it….like getting sued!

• Executive pay creeping up – FierceHealthcare
• 8 Recent Stories on Hospital Executive Compensation | Compensation Issues
• Are Primary Care Physicians Undervalued? – Cejka Search
• Highest nonprofit exec earners make millions – FierceHealthcare
• Physician sued for revealed HIV status to hospital patient’s mother – FierceHealthcare

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Bold statement?

That’s what this infographic infers when comparing Income and Job Satisfaction.  Click on the image and scroll to the bottom right of the graphic and you’ll see that Pediatricians score 80 on the happiness scale whereas Surgeons score 53.1.  Big jump!

What’s more important to you?  Money or Happiness?

The post Pediatricians make less but happier than surgeons appeared first on MD Salaries.

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Just like Internal medicine doctors are experts in adults, Pediatricians are experts in children.  Pediatrics is considered a primary care field and most patients will stick with you in to their late teens!  They are the first point of contact for many frightened parents with sick babies, children, and adolescents.

One of the downsides to this field and probably the saddest part is that eventually your patients will have to transition on to an adult doctor, whether family medicine or internal medicine.  But one of the cool things I’ve noticed rotating with my pediatric attendings is this smile on their face as they turn to me and say, “I took care of her as a child, and now I’m taking care of her children.”

That’s the lure of primary care, to be connected so personally with your patients as you both go through life.

The national average starting salary for pediatric doctors finishing residency is $135,000.  After you’ve been seasoned, the maximum salary we’ve seen is $271,000.

Most pediatricians make between $147,108 and $188,654 dollars.  As a pediatric hospitalist, you might be able to make more money while having a better lifestyle.  Hospitalists work in shifts instead of the typical 9 – 5 work day plus overnight call.

To become a pediatrician, you need to complete 3 years of residency in pediatrics.  That’s the norm for primary care specialties [ internal medicine and family medicine ].

Just like in internal medicine, pediatricians can do fellowships after residency in order to specialize in a particular body system.  Specializing will allow you to earn a higher salary.

Pediatrics is probably the most competitive of the 3 primary care specialties because they have the least amount of spots.  In the most recent match, there were only 209 residency programs that offered 2,428 spots.

Pediatrics is a very interesting field.  The amount of pathology that children can have is as vast as the adult world.  When I rotated as a resident in Salt Lake City and Minneapolis, I met many pediatric residents who had the biggest smiles on their faces from talking to their patients.  Their smiles were so big, you couldn’t help but smile too.  This makes me believe that this field is extremely rewarding for those who love children.  The salary, however, is just average.

Sources
Salary.com, Physician – Pediatric Physician Salary
Allied Physicians – Physician Salary Survey
NMRP Match Results
ACGME

The post Pediatric Physician Salary appeared first on MD Salaries.

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Internal medicine deals with the prevention, diagnosis, and treatment of adult diseases.  Compared with family medicine, internists do not deliver babies or care for children.  Their focus is only on adults.

Internal medicine is one of the pillars for primary care.  They are often the first point of contact for many patients who have a health concern.  Many patients will stick with the same doctor for their life!

Internal medicine physicians have a flexibility unlike any other primary care field.  We’ll talk about that in the training section.

salary.com

Just how much do internal medicine doctors make?  The national average for starting right out of residency is $156,000.  The median average salary is $182,005.  It’s a little strange that the average reporting starting salary for family physicians was a little bit higher.  But I’m sure there were some confounds to the study.

Majority of internal medicine physicians reported earning between $163,989 and $205,702.  The maximum salary reported was $238,000.  If you accept a hospitalist position, you can earn $250,000 and work half of the year!

In another post, we’ll give you some insight into different practice models that will let primary care physicians earn a higher salary while providing better patient satisfaction.

Residencies in internal medicine are 3 years long which is the same for most of the other primary care specialties as well.  The benefit of internal medicine over the other primary care specialties is that there are much more fellowships for you to specialize in afterwards.  Do you see all of those categories on the right of the page there?  Most of those are accessible only to internal medicine physicians.

Nephrologists.  Gastroenterologists.  Infectious Disease.  Critical Care.  Cardiology.  Neurology.  Endocrinology.  Rheumatology.  Did I miss anything?  All of these specialties began with a 3 year residency in internal medicine.  The fellowships for these fields range from a couple years extra to many years extra!  See their respective posts for more details.

In the most recent match, 377 programs offered a total of 4,999 spots in internal medicine residencies.  That’s nearly twice as much opportunity than available family medicine spots.

Internal medicine doctors are specialists in adult medicine.  Their residency is the gateway to a multitude of fellowship opportunities that will let you specialize in a distinct field which will undoubtedly increase your salary.  If you’re a primary care enthusiast but not interested in delivering babies or taking care of children, take a look into this field and see if it’s the right fit for you.

Sources
Salary.com, Physician – Internal Medicine Physician Salary
Allied Physicians – Physician Salary Survey
NMRP Match Results
ACGME

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