Physicians practicing within a single specialty group were compensated the highest in 2018, according to a new report from Doximity, while physicians in academia had the lowest average compensation for the year.
It’s no surprise that physician compensation varies by employment type. Just how much it varies is outlined in Doximity’s 2019 report on physician compensation, which aims to provide a snapshot of current wage trends across specialties, metro areas and type of employment.
Variance by employment type
As more physicians steer away from private practice ownership and toward employment by larger physician groups and health systems, it’s relevant to recognize the differences in average compensation for various types of employment, Doximity notes.
Here are Doximity’s findings on average annual compensation for 2018 and 2017 based on employment type.
Physicians practicing within a single specialty group reported average compensation of $377,414, in 2018, which is 23 percent higher than those working in academia, who reported earning $307,180 on average in 2018. Doctors working within the health care or pharmaceutical industry saw the largest pay increase with a 17 percent boost from 2017, while those working in academia saw a 9 percent decline in their average compensation from 2017.
Doximity’s findings drew on self-reported data from roughly 90,000 full-time physicians surveyed since 2017. It’s worth noting that the average wages listed in the report 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 last year.
You can see Doximity’s full report and methodology here.
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Get details on current job openings and career resources by visiting the AOA Career Center.
This article provides an overview of how much money doctors are making in 2019, according to Medscape.
Learn the 10 specialties with the highest and lowest compensation in 2018, according to Doximity survey data.