Being an employed physician comes with several advantages, but practicing this way has drawbacks as well.
One way that employed physicians are losing out is in the pay department. Self-employed physicians earn about $374,000 annually, while employed physicians earn $344,000, according to Medscape's "Physician Compensation Report 2023."
Autonomy is another area where employed physicians may be missing out. According to Medscape's "Employed Physicians Report 2023," 56% of employed physicians said what they like least about their jobs is less autonomy. "Less income potential" and "more workplace rules" were the second and third things employed physicians like least about their jobs, respectively.
However, being an employed physician does come with its perks. According to Medscape's "Employed Physicians Report 2023," 56% of employed physicians said that what they like most about their jobs is that they don't have to run a business. The second and third things that employed physicians like most about their jobs is the stable income and that their employer pays for malpractice insurance.