Here are 20 recent statistics and updates regarding physician compensation heading into 2026:
1. CMS released its final rule for 2026 Medicare payments under the physician fee schedule, including two separate conversion factors. One for qualified practitioners participating in advanced alternative-payment models that promote quality and cost accountability. The other will be used for non-QP physicians and practitioners.
2. The final rule includes a QP-conversion factor of $33.57, representing a 3.77% increase from the current conversion factor of $32.35. For non-QPs, the final rule increases the conversion factor by 3.26%, from $32.35 to $33.40.
3. The final rule includes a QP-conversion factor of $33.57, representing a 3.77% increase from the current conversion factor of $32.35. For non-QPs, the final rule increases the conversion factor by 3.26%, from $32.35 to $33.40.
4. According to VMG Health and SullivanCotter’s 2025 “Physician Compensation and Productivity Survey,” median total cash compensation — base salary plus incentives — rose more sharply in 2025 than it has in a decade, driven by clinician shortages and persistent supply-demand imbalances.
5. Adult medical specialties saw the largest year-over-year gain at 7.5%. Over five years, primary care specialties have led with a 21.8% total increase.
6. After several years of COVID-19 pandemic-related swings, SullivanCotter found that productivity has largely stabilized, with work relative value units increasing about 1.5% overall year over year.
7. Adult medical, pediatric surgical and adult surgical specialties saw the greatest productivity growth at 3.4%, 2.4% and 2%, respectively. Compensation per wRVU ratios have normalized, indicating that pay gains are now being driven by market pressure rather than output.
8.Younger physicians are increasingly prioritizing financial security and work-life balance over volume-based risk.
“Often younger physicians don’t want to be at risk relative to production or the amount of volume they can generate,” Mark Ryberg, physician workforce practice leader at SullivanCotter, said in an Oct. 15 release. “They’re prioritizing security in the form of base salaries.”
9. While base salary and wRVUs remain the foundation of most plans, SullivanCotter reports growing use of other metrics and benefits. For example, 75% of organizations now include productivity and patient experience measures, and outcomes-based metrics increased 4.6% year over year.
10. Additionally, 90% and 52% of survey respondents reported using sign-on bonuses and student loan repayment, respectively, as recruitment incentives.
11. From 2018 to 2022, physician salaries rose an average of 5% annually, yet nearly half of physicians report feeling underpaid. To maintain coverage, hospitals are turning to advanced practice providers, with 63% of medical groups adding new APP roles in 2024, according to data from the Medical Group Management Association.
12. Sixty-three percent of physicians would take a pay cut for work-life balance, according to a Medscape survey published in January 2025.
13. Neurosurgeons are the most highly paid specialists, followed by thoracic surgeons and orthopedic surgeons. Many pediatric specialists were among the lowest paid, according to Doximity’s “Physician Compensation Report 2025.”
14. The specialty with the highest pay growth was pediatric nephrology at 15.6%, followed by preventative medicine at 10% and pediatric medicine at 8.5%.
15. Here’s a breakdown of the 20 highest paid specialties:
- Neurology: $749,140
- Thoracic surgery: $689,969
- Orthopedic surgery: $679,517
- General pediatric surgery: $647,721
- Plastic surgery: $621,445
- Oral and maxillofacial surgery: $616,748
- Radiation oncology: $588,678
- Cardiology: $587,360
- Vascular surgery: $576,452
- Interventional radiology: $572,617
- Radiology: $571,749
- Urology: $559,474
- Gastroenterology: $573,870
- Otolaryngology: $523,369
- Anesthesia: $523,277
- Dermatology: $508,401
- Oncology: $502,465
- Colon and rectal surgery: $487,085
- General surgery: $482,574
- Ophthalmology: $477,232
16. Here is a breakdown of the 20 lowest paid specialties:
- Pediatric endocrinology: $230,426
- Pediatric rheumatology: $231,574
- Pediatric infectious disease: $248,322
- Pediatric hematology and oncology: $255,733
- Medical genetics: $259,564
- Pediatric nephrology: $263,031
- Pediatrics: $265,230
- Pediatric pulmonology: $282,000
- Child neurology: $289,738
- Endocrinology: $290,606
- Geriatrics: $291,968
- Medicine / pediatrics: $296,665
- Pediatric gastroenterology: $298,457
- Allergy and immunology: $308,846
- Preventative medicine: $310,177
- Pediatric emergency medicine: $312,271
- Family medicine: $318,959
- Infectious disease: $320,730
- Rheumatology: $324,954
- Internal medicine: $326,116
17. The “Comparing Your Pay Against Your Peers:” Medscape Physician Compensation Report 2025” released in July found that across all physicians, only 48% said that personally feel fairly compensated for their work, the lowest in 10 years.
18. Physicians in the Midwest reported the highest average salary at $385,000. Here’s how other regions stacked up in average physician salary:
- West: $369,000
- North: $363,000
- South: $375,000
19. When asked about physicians as a whole, about 6 in 10 physicians said they were unfairly compensated, a sign that physicians were more concerned about their colleagues’ compensation than their own, according to Medscape.
20. Nearly 4 in 10 physicians find time in their schedules for outside paid work.
