DOXIMITY STUDY SHOWS UPTICK IN PHYSICIAN DEMAND AND COMP IN 2017

medical-doctor-1314903-m1Earlier this month, Doximity released a new study that provides a national review of physician compensation information and job trends, as the strong trend of physician employment by hospital systems continues.  Doximity, formed in 2011, is “the largest community of healthcare professionals in the country,” according to its website. More than 70% of physicians in the United States are verified Doximity members.  Doximity is a network of physicians and other healthcare practitioners. Doximity’s membership also includes many nurse practitioners, physician assistants and pharmacists.  More about Doximity can be learned from its website, www.doximity.com.

The study analyzes thousands of job advertisements posted in 20 of the nation’s largest cities and involving 15 common medical specialties.  Compensation growth was calculated using self-reporting from compensation surveys of tens of thousands of full time U.S. physicians. Physician compensation grew 5.1 percent in 2017, according to the study.

Doximity’s December 2017 study concluded that the following metropolitan areas had the job advertisement growth indicated below:

  1. Boston 72%
  2. San Francisco 42%
  3. Chicago 36%
  4. Washington, DC 23%
  5. New York 21%
  6. Denver 12%
  7. Seattle 4%
  8. Philadelphia 2%
  9. Miami 2%
  10. Los Angeles 1%

The study indicated the following compensation growth by metropolitan areas:

  1. San Francisco 16%
  2. Indianapolis 14%
  3. Los Angeles 13%
  4. Philadelphia 11%
  5. Milwaukee 10%
  6. New York 8%
  7. Minneapolis 8%
  8. Seattle 7%
  9. Boston 7%

The following specialties had the highest growth, according to the study:

  1. Geriatrics 164%
  2. Urology 49%
  3. Oncology 45%
  4. Hematology 39%
  5. OB-GYN 31%
  6. Gastroenterology 27%
  7. Occupational Medicine 26%
  8. Endocrinology 25%
  9. Neurosurgery 25%
  10. Cardiology 23%

The December report follows up on Doximity’s First Annual Compensation Report, published in April 2017.  The April report indicated the following key findings: the metro areas in which all physicians are paid the highest annual salary were as follows:

  1. Charlotte, NC $359,455
  2. Bridgeport, CT $353,925
  3. Phoenix, AZ $351,677
  4. Milwaukee, WI $345,831
  5. Houston, TX $345,079
  6. Louisville, KY $344,362
  7. Minneapolis, MN $343,548
  8. Orlando, FL $343,072
  9. Indianapolis, IN $342,699
  10. Dallas, TX $339,911

And the metro areas in which all physicians are paid the lowest annual salary were as follows:

  1. Durham, NC $267,598
  2. Ann Arbor, MI $272,398
  3. Baltimore, MD $281,005
  4. Charleston, SC $285,933
  5. Washington, DC $286,242
  6. Boston, MA $286,971
  7. Denver, CO $288,095
  8. Providence, RI $294,103
  9. Philadelphia, PA $296,351
  10. Cincinnati, OH $297,700

According to the April report, the highest average compensation by specialties was as follows:

  1. Neurosurgery $620,000
  2. Thoracic Surgery $522,000
  3. Orthopaedic Surgery $503,000
  4. Vascular Surgery $446,000
  5. Radiation Oncology $442,000
  6. Plastic Surgery $420,000
  7. Dermatology $420,000
  8. Cardiology $415,000
  9. Radiology $408,000
  10. Gastroenterology $403,000

According to the April report, the lowest average compensation by specialties was as follows:

 

  1. Pediatric Infectious Disease $186,000
  2. Pediatric Endocrinology $190,000
  3. Preventive Medicine $204,000
  4. Pediatric Hematology and Oncology $210,000
  5. Pediatric Nephrology $211,000
  6. Medical Genetics $217,000
  7. Pediatrics $219,000
  8. Pediatric Rheumatology $220,000
  9. Pediatric Gastroenterology $225,000
  10. Family Medicine $231,000

The April report was based on the responses of over 36,000 licensed doctors.  Additional details and data can be reviewed in the report.

If you have questions about this post, contact us at info@hamillittle.com, or by calling our business and health care law firm at our Atlanta office or Augusta office.

 

** Disclaimer: Thoughts shared here do not constitute legal advice. Please consult with an attorney to discuss your legal issue.

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