Primary care physicians and specialists both suffered modest salary declines during COVID-19

Primary care physicians took home an average of $242,000 in 2021, a small drop from the $243,000 in the year prior. Specialists also experienced a modest decline in pay, averaging $344,000 compared to $346,000 in 2020, according to data published Thursday.

Specialists continue to earn significantly more than PCPs, with surgical specialists sitting atop the list. Plastic surgeons’ average salary jumped 10% between 2020 and 2021, landing at $526,000. No. 2 on the list is orthopedic & orthopedic surgeons ($511,000), followed by cardiologists ($459,000), urologists ($427,000) and otolaryngologists ($417,000).

At the bottom of the rankings are pediatricians ($221,000), family medicine providers ($236,000), public health/preventative docs ($237,000) and infectious disease specialists ($245,000).

Physicians Thrive, a financial planning company that helps manage their money, compiled the findings from a handful of top compensation reports, including data from Medscape, Doximity, Merritt Hawkins, Salary.com and the Bureau of Labor Statistics.

The ongoing pandemic has played a large role in these salary figures, with 72% of docs reporting a drop in income. Meanwhile, 43% are dealing with a smaller staff and 8% have been forced to close their practice entirely.

COVID-19 is also altering the hiring landscape, with recruitment focused on hematologists/oncologists, family medicine specialists, obstetricians/gynecologists, gastroenterologists, psychiatrists, dermatologists, endocrinologists, cardiologists, radiologists, and neurologists.

“For the past 13 years, family physicians have been the most heavily recruited physicians around the country,” the report authors wrote. “But with COVID-19 causing a decrease in office visits, 2021 created an increase in specialist recruiting for the first time in over a decade.”

For more trends, you can read the entire “Physician Compensation Report” here.

""

Matt joined Chicago’s TriMed team in 2018 covering all areas of health imaging after two years reporting on the hospital field. He holds a bachelor’s in English from UIC, and enjoys a good cup of coffee and an interesting documentary.

Trimed Popup
Trimed Popup