Cardiology groups integrated with a hospital or health system saw compensation growth for the third year in a row, according to 2023 data reported by the American College of Cardiology's consulting firm, MedAxiom.
The firm published its "Cardiovascular Provider Compensation and Production Survey Report" on Oct. 16.
Here are 10 things to know from the report:
- More than 5,600 cardiovascular physicians and advanced practice providers responded to the survey.
- Of the respondents, 88% were employed or leased by a hospital or health system and 12% were in private practice. Of the private practice respondents, 50% were part of a private equity portfolio.
- The median total compensation per cardiologist by ownership model in 2023 was $688,809 for integrated models and $616,382 for private practice, up from 2022 totals of $645,388 and $588,272, respectively.
- The median compensation per cardiologist by subspecialty in 2023, regardless of ownership model, was:
- Invasive: $755,468
- Electrophysiology: $741,895
- Interventional: $730,119
- General/Noninvasive: $624,891
- Advanced heart failure: $619,990
- The median compensation per cardiologist by geographical region was:
- South: $710,936
- West: $655,722
- Midwest: $647,600
- Northeast: $646,576
- The median compensation per cardiologist by age, ranked here highest to lowest, was:
- 51 to 60: $718,645
- 41 to 50: $690,358
- 61 to 70: $660,000
- 40 or younger: $630,268
- 71 and older: $537,891
- The median compensation for cardiologists age 35 and younger increased from $523,257 in 2022 to $597,393 in 2023.
- The median compensation per cardiovascular surgeon by specialty in 2023 was $928,081 for cardiac surgeons and $650,107 for vascular surgeons.
- The media nonclinical compensation per cardiologist increased from $52,880 in 2022 to $63,054 in 2023.
- The median compensation for cardiovascular advanced practice providers in 2023 was:
- Cardiac surgery: $152,883
- Vascular surgery: $133,474
- Cardiology: $123,572