The amount of revenue physicians generate for hospitals is typically considerably more than their annual salaries, according to a recent survey by physician staffing firm Merritt Hawkins.
The survey was emailed to roughly 3,000 hospital CFOs and other financial managers across the nation between October 2018 and December 2018, and the survey results include data on 93 hospitals. Despite the relatively small data set, Merritt Hawkins believes the survey results are generally reliable and accurate because the overall number for average annual revenue generated by all physician specialties for their affiliated hospitals has remained relatively constant over the 16 years the survey has been conducted.
Below are the 10 physician specialties that generate the highest average annual net revenue for hospitals and the average salaries for those specialties, according to the Merritt Hawkins 2019 Physician Inpatient/Outpatient Revenue Survey.
1. Cardiovascular surgery
- Average revenue: $3.7 million
- Average salary: $425,000
2. Cardiology (invasive)
- Average revenue: $3.48 million
- Average salary: $590,000
3. Neurosurgery
- Average revenue: $3.44 million
- Average salary: $687,000
4. Orthopedic surgery
- Average revenue: $3.29 million
- Average salary: $533,000
5. Gastroenterology
- Average revenue: $2.97 million
- Average salary: $487,000
6. Hematology/Oncology
- Average revenue: $2.86 million
- Average salary: $425,000
7. General surgery
- Average revenue: $2.71 million
- Average salary: $350,000
8. Internal medicine
- Average revenue: $2.68 million
- Average salary: $261,000
9. Pulmonology
- Average revenue: $2.36 million
- Average salary: $418,000
10. Cardiology (noninvasive)
- Average revenue: $2.31 million
- Average salary: $427,000
More articles on healthcare finance:
Alabama hospital in danger of closing as physicians leave town
Private equity pushes into healthcare: 7 latest deals
Kaiser's net income more than doubles to $3.2B in Q1