Magazine article Medical Economics

Physician Owners Take a 6% Pay Cut in 2012; Other Incomes Relatively Flat, Survey Says

Magazine article Medical Economics

Physician Owners Take a 6% Pay Cut in 2012; Other Incomes Relatively Flat, Survey Says

Article excerpt

Physician practice owners took a pay cut last year, according to the results of the 85th exclusive Medical Economics Continuing Study, an annual survey that examines physician earnings.

Average incomes for physicians with an ownership stake in practice dropped nearly 6% to $244,000 in 2012 from $260,000 in 2011, according to the data. The mean incomes for employed physicians (including some specialties) climbed to $216,000 this year, up from $211,000 last year (2% increase).

While internal medicine posted a slight increase over last, those gains were not experienced by family physician who noted a 2% decline overall (Table, p. 23). The most significant income gains were noted for pediatrics, urologists, psychiatrists, and gynecologists. Conversely, declines were posted by physicians working in emergency and acute care, ophthalmologists, hospitalists, and cardiologists.

Some of the other survey results include:

* Male physicians made significantly more on average (34%) than female physicians regardless of whether they were employed in a group practice or maintained an ownership position within the practice.

* For employed physicians, the annual mean income for female physicians was $179,000 and their male colleagues brought in $240,000. For those physicians with an ownership interest in practice, female physidans earned $195,000 compared to $263,000 for male respondents.

* As might be expected, numbers of patient visits had a significant impact on annual income for physicians. In feet, those physidans seeing fewer than 25 patients a week made $158,000 while those seeing 150-174 patients a week pulled down $287,000 a year. …

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