Between the new value-based care models, M&A activity and innovations in healthcare, it is valuable to track compensation to evaluate and compare how changes will affect physicians. Especially as fewer physicians strike out on their own and hospitals look to attract new recruits, compensation data provides a valuable benchmark.
In 2014, family physicians were the most in demand specialty for recruitment for the eighth year in a row, according to Merritt Hawkins. This may reflect the current emphasis on primary care. To further illustrate this trend, primary care specialty compensation increased most on average, by approximately 3.8 percent, according to an American Medical Group Association report. Surgical specialties increased 3 percent and other specialties by 1.8 percent.
While most specialties saw an increase, compensation varies widely between specialty, healthcare setting and region. The following statistics provide a view of the current compensation landscape in healthcare.
Note: Some of the following statistics may seem higher or lower compared with others in the same specialty. Several surveys were used to compile this report. Each specialty does not contain the same number of statistics because data was unavailable for some specialties. More information is provided at the end of the report.
Median compensation
Anesthesiologists: $398,240 (0.9 percent increase from 2013)
Cardiologists: $425,000 (1 percent increase from 2013)
Dermatologists: $419,146 (1.9 percent increase from 2013)
Endocrinologists: $233,769 (0.2 percent decrease from 2013)
Emergency room physicians: $316,739 (5.2 percent increase from 2013)
Family medicine physicians: $229,607 (2.6 percent decrease from 2013)
Gastroenterologists: $471,336 (9 percent decrease from 2013)
General Surgeons: $380,778 (2 percent increase from 2013)
Internal medicine physicians: $237,548 (4.7 percent increase from 2013)
Neurologists: $268,096 (5.1 percent increase from 2013)
OB/GYN: $322,423 (3.2 percent increase from 2013)
Oncologists: $367,404 (4.9 percent increase from 2013)
Ophthalmologists: $380,600 (2.2 percent increase from 2013)
Orthopedic surgeons: $538,123 (2.5 percent increase from 2013)
Pediatricians: $232,097 (4.2 percent increase from 2013)
Psychiatrists: $232,750 (3.5 percent increase from 2013)
Pulmonologists: $304,367 (1.2 percent increase from 2013)
Rheumatologists: $239,112 (0.5 percent decrease from 2013)
Urologists: $434,563 (2.3 percent increase from 2013)
Median work RVU
Anesthesiologists: N/A
Cardiologists: 7,335
Dermatologists: 7,333
Endocrinologists: 4,601
Emergency room physicians: 7,664
Family medicine physicians: 4,975
Gastroenterologists: 8,349
General Surgeons: 6,782
Internal medicine physicians: 4,708
Neurologists: 4,639
OB/GYN: 6,974
Oncologists: 4,652
Ophthalmologists: 8,460
Orthopedic surgeons: 8,133
Pediatricians: 5,448
Psychiatrists: 4,169
Pulmonologists: 6,120
Rheumatologists: 4,558
Urologists: 7,344
Mean compensation for men and women
Anesthesiologists — men: $350,000
Anesthesiologists — women: $295,000
Cardiologists —men: $356,000
Cardiologists — women: $309,000
Dermatologists —men: $329,000
Dermatologists — women: $272,000
Endocrinologists — men: $195,000
Endocrinologists — women: $161,000
Emergency room physicians — men: $283,000
Emergency room physicians — women: $235,000
Family medicine physicians — men: $187,000
Family medicine physicians — women: $157,000
Gastroenterologists — men: $350,000
Gastroenterologists — women: $331,000
General Surgeons — men: $307,000
General Surgeons — women: $240,000
Internal medicine physicians — men: $195,000
Internal medicine physicians — women: $173,000
Neurologists — men: $226,000
Neurologists — women: $200,000
OB/GYN — men: $256,000
OB/GYN — women: $229,000
Oncologists — men: $303,000
Oncologists — women: $254,000
Ophthalmologists — men: $300,000
Ophthalmologists — women: $256,000
Orthopedic surgeons — men: $418,000
Orthopedic surgeons — women: $354,000
Pediatricians — men: $198,000
Pediatricians — women: $165,000
Psychiatrists — men: $209,000
Psychiatrists — women: $178,000
Pulmonologists — men: $266,000
Pulmonologists — women: $216,000
Rheumatologists — men: $228,000
Rheumatologists — women: $181,000
Urologists — men: $348,000
Urologists — women: $353,000
Lowest paying region*, by mean compensation
Anesthesiologists: Northwest ($296,000)
Cardiologists: West ($308,000)
Dermatologists: South Central ($238,000)
Endocrinologists: Northwest ($129,000)
Emergency room physicians: Northeast ($248,000)
Family medicine physicians: Mid-Atlantic ($165,000) and Southwest ($166,000)
Gastroenterologists: Mid Atlantic ($319,000)
General Surgeons: South Central ($280,000)
Internal medicine physicians: Northeast ($172,000)
Neurologists: Southwest ($186,000)
OB/GYN: Northeast ($234,000)
Oncologists: Northeast ($255,000)
Ophthalmologists: Southwest ($239,000)
Orthopedic surgeons: West ($343,000)
Pediatricians: West ($172,000)
Psychiatrists: Great Lakes, Southeast and Northeast ($192,000)
Pulmonologists: Northwest ($218,000)
Rheumatologists: South Central ($166,000)
Urologists: Northeast ($320,000)
Highest paying region*, by mean compensation
Anesthesiologists: North Central ($365,000)
Cardiologists: Northwest ($434,000)
Dermatologists: Southwest ($385,000)
Endocrinologists: West ($203,000)
Emergency room physicians: South Central ($295,000)
Family medicine physicians: North Central ($198,000)
Gastroenterologists: Great Lakes ($382,000)
General Surgeons: North Central ($325,000)
Internal medicine physicians: North Central($208,000)
Neurologists: Great Lakes ($239,000)
OB/GYN: Great Lakes ($264,000)
Oncologists: Southwest ($331,000)
Ophthalmologists: Great Lakes ($333,000)
Orthopedic surgeons: Northwest ($468,000)
Pediatricians: South Central ($199,000)
Psychiatrists: West ($218,000)
Pulmonologists: North Central ($295,000)
Rheumatologists: North Central ($368,000)
Urologists: Northwest ($406,000)
Hospital-employed mean compensation
Anesthesiologists: $348,000
Cardiologists: $316,000
Dermatologists: $169,000
Endocrinologists: $162,000
Emergency room physicians: $278,000
Family medicine physicians: $191,000
Gastroenterologists: $266,000
General Surgeons: $287,000
Internal medicine physicians: $190,000
Neurologists: $193,000
OB/GYN: $228,000
Oncologists: $257,000
Ophthalmologists: $177,000
Orthopedic surgeons: $397,000
Pediatricians: $177,000
Psychiatrists: $199,000
Pulmonologists: $243,000
Rheumatologists: $176,000
Urologists: $315,000
Multispecialty group practice mean compensation
Anesthesiologists: $345,000
Cardiologists: $384,000
Dermatologists: $361,000
Endocrinologists: $200,000
Emergency room physicians: $279,000
Family medicine physicians: $187,000
Gastroenterologists: $404,000
General Surgeons: $335,000
Internal medicine physicians: $200,000
Neurologists: $243,000
OB/GYN: $271,000
Oncologists: $336,000
Ophthalmologists: $309,000
Orthopedic surgeons: $459,000
Pediatricians: $190,000
Psychiatrists: $184,000
Pulmonologists: $281,000
Rheumatologists: $244,000
Urologists: $449,000
Single-specialty group practice mean compensation
Anesthesiologists: $340,000
Cardiologists: $380,000
Dermatologists: $323,000
Endocrinologists: $207,000
Emergency room physicians: $234,000
Family medicine physicians: $182,000
Gastroenterologists: $395,000
General Surgeons: $316,000
Internal medicine physicians: $195,000
Neurologists: $251,000
OB/GYN: $255,000
Oncologists: $334,000
Ophthalmologists: $325,000
Orthopedic surgeons: $442,000
Pediatricians: $193,000
Psychiatrists: $219,000
Pulmonologists: $289,000
Rheumatologists: $248,000
Urologists: $384,000
Highest offered base salary
(Bonuses and benefits not included)
Anesthesiologists: N/A
Cardiologists (noninvasive): $500,000
Dermatologists: N/A
Endocrinologists: $235,000
Emergency room physicians: $400,000
Family medicine physicians: $293,000
Gastroenterologists: $560,000
General Surgeons: $515,000
Internal medicine physicians: $360,000
Neurologists: $400,000
OB/GYN: $380,000
Oncologists: $450,000
Orthopedic surgeons: $700,000
Pediatricians: $240,000
Psychiatrists: $350,000
Pulmonologists: $425,000
Rheumatologists: N/A
Urologists: $625,000
Lowest offered base salary
(Bonuses and benefits not included)
Anesthesiologists: N/A
Cardiologists (noninvasive): $400,000
Dermatologists: N/A
Endocrinologists: $175,000
Emergency room physicians: $220,000
Family medicine physicians: $140,000
Gastroenterologists: $240,000
General Surgeons: $270,000
Internal medicine physicians: $145,000
Neurologists: $180,000
OB/GYN: $215,000
Oncologists: $315,000
Orthopedic surgeons: $350,000
Pediatricians: $130,000
Psychiatrists: $150,000
Pulmonologists: $230,000
Rheumatologists: N/A
Urologists: $430,000
Statistics are based on the following:
Median compensation and median work RVUs are from the American Medical Group Association's "2014 Medical Group Compensation and Financial Survey," a 2014 report based on 2013 data. The nationwide survey includes data from 289 medical groups with approximately 73,700 providers. Compensation includes base salary, plus variable compensation and voluntary compensation reductions. It does not include retirement benefits, pension, SERP or tax-deferred profit-sharing plans. Work RVUs, or relative value units, are units of value based on time, skill, training and intensity of administered services, using the CMS scale.
Mean compensation for men and women, highest-paying and lowest-paying region by mean compensation, hospital-employed mean compensation, multispecialty group practice mean compensation and single-specialty group practice mean compensation are from Medscape's "2014 Physician Compensation Report." The report is based on responses from an online survey of 24,075 physicians across 25 specialty areas from Dec. 11, 2013, to Jan. 24, 2014. Compensation from this report includes base salary, bonuses and profit-sharing contributions. Geographical regions are detailed at the end of the report.
Highest and lowest offered base salary figures are from the Merritt Hawkins "2014 Review of Physician and Advanced Practitioner Recruiting Incentives." The review is based on 3,158 permanent physician and advanced practitioner search assignments that were ongoing or conducted by Merritt Hawkins and sister physician staffing companies from April 2013 to March 2014.
*Geographical regions:
Northeast: New York, Connecticut, Rhode Island, Massachusetts, Vermont, New Hampshire and Maine
Mid-Atlantic: Pennsylvania, New Jersey, Delaware, Maryland, West Virginia, Virginia, North Carolina and South Carolina
Southeast: Tennessee, Kentucky, Louisiana, Mississippi, Alabama, Georgia and Florida
Great Lakes: Minnesota, Wisconsin, Illinois, Michigan, Indiana and Ohio
North Central: Iowa, Missouri, North Dakota, South Dakota, Nebraska and Kansas
South Central: Texas, Oklahoma and Arkansas
Northwest: Alaska, Oregon, Washington, Idaho, Montana and Wyoming
Southwest: Colorado, Nevada, New Mexico, Arizona and Utah
West: California and Hawaii