Physician Compensation Report: 2011 Results

Despite the economy, a majority of physicians across all specialties reported compensation increasing or remaining stable over the past year. More than 15,000 physicians nationwide took part in Medscape's 2011 Compensation Survey. Twenty-two specialists (including primary care) participated in the survey.

Orthopedic surgeons and radiologists (median compensation: $350,000), anesthesiologists and cardiologists ($325,000) were the top earners, as primary care ($159,000) and pediatricians ($148,000) brought up the rear. If they had to do it all over again, primary care doctors were least likely to choose the same specialty (43%), followed by pulmonologists (52%) and ob/gyn's (53%). While pediatricians were lowest on the income rung, 61% would choose the same specialty again.

Some physicians have seen the financial wisdom of investing in their own surgery/clinical procedure centers. Among specialists who've already taken this step, gastroenterologists lead the way (40%), followed in descending order by urologists, plastic surgeons, orthopedic surgeons, and ophthalmologists. For at least a portion of such doctors, though, this train may have already left the station, especially anyone considering investing in an ambulatory surgical center. Doctors thinking about setting up their own ambulatory surgical center face the prospect of lower reimbursements and rising costs for construction and related expenditures.

Sometimes the best way to boost practice income during tough times is simply to cut expenses. Of the roughly 15% of respondents who followed this game plan in 2010, most said they'd cut expenses by up to 10%. Among this group of cost-cutters, the best represented specialties are plastic surgery (29%), urology (23%), gastroenterology (20%), and cardiology (19%). Psychiatrists ($175,000) are not the top income earners but low operating costs may put them on an equal financial footing with many of their higher-earning specialist colleagues.

Read the full report on Medscape, or click here:

http://www.medscape.com/features/slideshow/compensation/2011