Average annual compensation for doctors rose from roughly $300,000 last year to $313,000, according to Medscape’s annual reports on physician compensation for 2019 and 2018.
While Medscape, which surveyed over 19,300 physicians to create its 2019 report, found a pay increase, a recent wage report from Doximity concluded that physician salaries are beginning to plateau, and members of the profession have raised concerns that there could be a physician compensation bubble that’s about to burst.
The average primary care physician is now earning $237,000 per year, a 22 percent increase from 2015, while the average specialist salary is $341,000, a 20 percent increase from 2015, Medscape reported.
Medscape’s numbers are significantly higher than those provided by the Bureau of Labor Statistics for 2018. BLS gave a median wage of $208,000 for all physicians and average annual wages of roughly $211,800 for family physicians and $255,100 for surgeons.
Below are a few of the report’s highlights.
Where earnings are highest
Physicians are earning the most money in Oklahoma, Alabama and Nevada, according to Medscape’s survey data and other factors it considered when creating the report.
The greatest challenges of practicing medicine
Physicians today say rules and regulations, EHRs and long hours are the most difficult aspects of practicing medicine. On the flip side, relationships with patients, excelling at their jobs and making the world a better place are what today’s doctors most enjoy about their work.
Get more information from the full report at Medscape, including details about methodology.