The salaries of specialist physicians in the private sector are increasing more rapidly than those of academic specialists, according to a new survey by the Medical Group Management Association (MGMA). Among primary care doctors, the trend is reversed, with academic physicians experiencing greater percentage gains in pay.
According to the study, private-sector specialists saw a 6.61% increase in 2006 (to a median of $316,620 annually) while academic specialists gained 3.59% (median $202,000). In primary care, academics made 5.51% more than in 2005 (to $142,251) while those in private practice received a 3.89% increase (to $168,111).
The gains in academic primary care could be due to competition with the private sector for new physicians, said an MGMA representative. A few academic specialties had little or no increase in compensation in 2006. Neurology, ophthalmology and ob/gyn all saw less than 2% increases in pay.
Both general and specialist physicians are doing well compared to the rest of America, according to another study. Doctors took 13 of the top 15 spots on Forbes’ annual list of the best-paid occupations in the U.S. Anesthesiologists had the top mean salary at $184,340, followed by surgeons and ob/gyns. General internists came in sixth with an average annual salary of $160,860. Family physicians/general practitioners took the ninth spot with an average of $149,850 per year.