Posted on 04/21/2014 1:25:04 PM PDT by SeekAndFind
Medscape, a subsidiary of the medical information website WebMD, has released its 2014 Physician Compensation Report. The data in the report come from more than 24,000 doctors in 25 specialties, who responded to Medscape's annual survey with information on their compensation for 2013.
The infographic below shows the average earnings for each surveyed specialty. Orthopedists were the highest earners:
In an explanation of their findings, Medscape notes that: "As in the past, those who perform procedures have the highest incomes compared with those who manage chronic illnesses." Some primary care practices saw a slight increase in earnings, "which could reflect early changes in reimbursement resulting from the Affordable Care Act."
(Excerpt) Read more at businessinsider.com ...
Nothing in the survey showed what their insurance cost were.
Florida has some of the highest rates of liability insurance. Moreover, the deviation between low and high averages varies in Florida more widely than in almost any other state. For instance, a doctor in internal medicine in Florida could expect to pay in excess of $56,000 per year for insurance as of 2009, in contrast with Minnesota’s $4,000. General surgeons paid in between $90,000 per year and $175,000 per year or more. OB/GYNs once again could expect the highest rates, with liability coverage ranging from $100,000 to $200,000 per year.
Do these figures assume all professional expenses have been paid like liability etc ?
I suspect both orthopedic surgeons and cardiologists get such high pay because they pay ungodly malpractice premiums.
In my experience, I've also never run into doctors who work as hard or are as highly skilled as doctors in both groups.
To teeming numbers of LIV’s, that is WAY too much.
If you are correct than wouldn’t tort reform reduce our health care costs by nearly 50%?
Looks like a partnership in a single-specialty orthopedics practice is the place to be.
Probably pretty good hours with weekends off, too.
I’m sure they are including only profit. Makes no sense to track their income according to total revenue instead.
I”m really surprised by how even that is across the country. I know that doctors tend to be drawn to high-cost urban areas, which is a potential drag on their income if there’s too much competition, but still.
The trial lawyers are too powerful in most states to allow real reform which would require a finding of malpractice by a medical review board before a suit can be filed (like in Germany).
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That’s earnings. What’s take-home? You got your malpractice insurance, student loans, hospital fees, greens fees, taxes, taxes, taxes, and (did I mention) taxes.
Those numbers look higher than average to me. I know a lot of FP docs working 60 hours a week making about $150k or less. That is not including their malpractice and health insurance but does represent their true income before taxes.
So doctors make more money in states where people actually pay their bills. Who knew?
Med school and residency plus fellowship and ongoing training then cost of running a business/practice, staffing, their benefits, insurance/malpractice, their own family expenses...And so on! It is a LOT of debt. And if it means that they are very good at what they do for me/my family, then so be it. I don’t begrudge them their money/wealth—they work hard for it. Jealousy/envy dies not serve anyone well.
For someone who performs such a vital service, I wouldn’t care if they made 4 times as much.
Getting to Dr. is a tortuous path and most more than earn every nickel.
Anyone want to trade with Cuba, Neo-USSR or UK? No me. Among the worst thing the damn libs ever did was work at destroying the best Medicine in the world.
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