Physician income growth from 2009 to 2010 was relatively flat (-0.14 average) compared to growth in previous years, according to the eighth annual Physician Compensation and Relocation Report by The Medicus Firm.
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Get Your Report Now!According to a press release, The Medicus Firm surveyed 2,339 physicians across 19 medical specialties and 50 states. A small percentage of respondents included nurse practitioners, physician assistants, and physicians in training.
Specialties which experienced the greatest income growth (based on percentage growth over the previous year) were emergency medicine physicians (up 5.5 percent) and psychiatrists (up 11.5 percent).
Physicians reporting a decline in 2010 income from 2009 included radiologists and oncologists.
Also, 61 percent of physicians responding to the survey expressed some level of dissatisfaction with their 2010 income, including 6 percent who are significantly upset to the point of possibly quitting medicine. The complete survey findings, including mean and median compensation ranges for the 19 specialties surveyed are available upon request.
"While many physicians don't choose medicine for the money initially, they do want to be compensated fairly, especially considering the additional years of school and training invested. Physicians may be more susceptible to career burn-out or dissatisfaction if they do not feel they are paid what the market bears for their services," states Jim Stone, president and managing partner of The Medicus Firm.