In this year’s compensation report by Medscape EM Physician Compensation Survey, reported in April, accounting for nearly19,200 respondents in over 26 specialties disclosed their income, working hours, career satisfaction, their major rewards and whether they’d choose medicine again and more.
Overall Earning by EM Physicians:
Each physician who participated in the survey were asked to provide their annual compensation for providing patient care. An annual compensation for employed physicians includes salary, bonus, and profit-sharing contributions. And for partners, it involves earnings after deducting taxes as well as business expenses before income tax. This year EM physicians had a compensation of $339,000, ranking them above the middle. Orthopedists were the highest payees at $489,000, whereas pediatricians were at the lowest at $202,000.
Some Specialties Observed Decline:
Cardiologists and Oncologists compensation remained same as 2016 survey. Only Pediatricians were reported to show a decrease this year by 1%. All other specialties showed an increase, also EM physicians (5%),with plastic surgeons’ (24%) and allergists’ (16%)are the largest gainers.
Who Earns Big? US Trained Physician or Foreign Trained Physician?
On average, a compensation difference of 3% has been observed in this year’s report, as US-trained EM physicians earn$340,000more than that of their foreign-trained associates i.e. $330,000. The average compensation earned by the US-trained physicians surveyed is $301,000. Also, the second highest earners are the Canada-trained physicians with $328,000.
Geographic Income Disparities Persist:
This year, EM physicians in the South Central ($395,000), North Central ($381,000),and Southeast ($354,000) regions were the highest average compensation receivers, whereas the lowest compensation receivers was found in the West ($311,000), Northwest ($312,000), and Mid-Atlantic($313,000) regions.
Welfare received by an EM Physician:
This year high percentages of EM physicians responded positively of receiving welfare:
- Liability coverage (75%)
- Employer-subsidized health insurance(62%)
- Employer-subsidized dental insurance (54%)
- Employee-matched retirement plans (46%)
Although 14% of EM physicians reported receiving no benefits.
Compensation Satisfaction – Are EM Physicians Fairly Compensated?
Almost 68% of EM physicians reported negatively on being fairly compensated. Of the list, at the bottom most, only 41% of nephrologists feel they are fairly compensated, on contrary 44% of endocrinologists reported dissatisfaction on this subject.
Do EM Physicians think to join MACRA?
The Medicare Access and CHIP Reauthorization Act of 2015 (MACRA), commonly called the permanent “Doc Fix,” came into effect on January 1, 2017. In this survey when asked if they – the EM physicians think to join MACRA, to which 43% answered positively.
Hours per Week EM Physicians Spent Seeing Patients?
Most of the EM physicians i.e. 80% of the surveyed, spend 45 hours/week or less with patients.
Would EM Physicians choose medicine again if they had to?
Almost 77% of the EM physicians responded positively when asked if they would do over medicine again if they had to.