Here are three more notes on employed physician pay versus private practice physicians:
1. Self-employed physicians reported $374,000 on average, compared with $344,000 for employed physicians, according to the Medscape report.
2. Physicians can earn big in ancillary revenue as a private practice physician.
“Ancillary service revenue can reflect up to 50% to 60% of a private practicing physician’s income, which, unfortunately, short of gain-sharing opportunities or partial ASC ownership, is usually unavailable in large healthcare system-employed practice situations,” Jack Bert, MD, orthopedic surgeon at Woodbury (Minn.) Bone & Joint, told Becker’s.
3. Single-specialty, solo practice and multispecialty groups are the highest-earning physician employment settings, according to Doximity’s 2023 Physician Compensation Report.
Physician compensation growth across employment settings from 2021 to 2022:
- Single specialty group: $438,959 (-0.7%)
- Solo practice: $428,112 (+3%)
- Multispecialty group: $421,159 (-0.7%)
- Health system: $400,207 (+1.4%)
- Hospital: $398,954 (-0.1%)
- Industry/pharmaceutical: $392,534 (-0.8%)
- HMO: $387,393 (+3.4%)
- Academic: $347,013 (-0.9%)
- Government: $269,189 (+1.8%)
- Urgent care center: $264,727 (-1%)
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